Correction Overdue

[Crazy]

looks like everyone was pretty quick to snatch up those cheap $1100 Coins.

Let's be honest. No one has any idea what the value of 1 BTC is, they're watching China and following their lead. On every single thing. China will determine the final valuation.

[bitleif]

So when exactly is this "correction" coming?

LOLZ.

You were saying?

[windjc]

looks like everyone was pretty quick to snatch up those cheap $1100 Coins.

Let's be honest. No one has any idea what the value of 1 BTC is, they're watching China and following their lead. On every single thing. China will determine the final valuation.

At this point in time, yes, mainly because China drug us up to 7000 CYN.

But China did not start this rally or the ones before it. China lagged this rally from the gates.

I do not believe that China is the main determining factor in bitcoin pricing. Sometimes, yes, but man we have had several boat loads of awesome news and pro-bitcoin events in the US the last 2 months and THAT has ALOT to do with this price too.

[beetcoin]

i agree it's not just china, but they have had a pretty big role. the start of the chain of events was ulbricht got caught, which dipped the price of BTC by about $20.. then china came into the game and it shot up to the moon. U.S. speculation then took over when the positive senate hearings. to me, there has not been any other meteoric event that has occurred since the senate hearing.

[windjc]

i agree it's not just china, but they have had a pretty big role. the start of the chain of events was ulbricht got caught, which dipped the price of BTC by about $20.. then china came into the game and it shot up to the moon. U.S. speculation then took over when the positive senate hearings. to me, there has not been any other meteoric event that has occurred since the senate hearing.

Actually, if you look closely at the charts, at the consolidation point around $200 it was Bitstamp that led the rally (or Gox, its arguable). Thats when China lagged.

I look at the rally being $200. But, yes, you could say it started at or before Ulbricht, too.

[eternaluniverse]

I did see this coming, a drop to 700/800 CAD. But, I also predicted that after that bitcoin prices would rest at around 2k by of December. Lets see!

[PenAndPaper]

After a long time all of the exchanges are level in their prices. Any speculation about what does it mean?