[2017-09-30] Forbes: Bitcoin Prices Firmly Above $4,000 Without China

[cybersofts]

Bitcoin traders have got a couple of things right lately. The digital currency can survive and thrive without China. And government regulation is positive, not negative, for the future of Bitcoin and other major cryptocurrencies. It adds credibility to the market, while limiting the supply of new coin offerings.

Most cryptocurrencies traded sharply higher on Wednesday, following recent news that U.S. and Japanese regulators are getting serious about writing the rules for the cryptocurrency markets. Bitcoin prices held above the $4,000-mark, close to 30% above the recent low.

Source: https://www.forbes.com/sites/panosmourdoukoutas/2017/09/27/bitcoin-prices-firmly-above-4000-without-china/#27e3bb7e6149

[richardsNY]

China has always been in people's heads, and it seems that for now China has lost its importance, which is a good thing. I am however afraid that if China comes up with another load of serious regulations, the market will then again act like China is the central point of everything. That being said, I am still not convinced that the current push to over the $4000 level will be maintained for long -- I have taken some profits just over $4300 just in case.