I don't know how to factor china effect it is obvious.
I guessed somewhere that it will suppress prices below $1000 till end of january, I was wrong.
Anyway I am amused by those calls of doom and gloom whenever the tide temporarily turns.
For those who didn't catch my point overall I am bullish
Up 89%, down 50% up 60% down 70%, up 90% and the story continues.......
.....several opportunities to make or break a fortune, all within the space of the last 4 weeks.
Bitcoin is like a psychotic rattlesnake at the moment and who really knows where it will strike next and to what extremities. It amazes me that with something as volatile as Bitcoin, how people can still apply the same normalcy bias to it as though it were just another everyday thing.
My mate said to me sometime in early Dec; "I can't see Bitcoin ever going below $1000 ever again"
I said; "Don't go fkn deluding yourself!"
At the time, I was bullish, and earning a pretty penny trading Bitcoins both on Bitstamp and shifting them on for a premium on LocalBitcoins. All my greatest hopes would have been pinned on the mania lasting forever. If it had done so as the majority of the perma-bulls assured me it would, then I would have been forced to pack in my day job (and it is a pretty damn well paying 'day job'), but i could never allow myself to be so naive and events have proven my precaution to be well warranted.
Perhaps if you are one of those who have been riding the Bitcoin gravy train since sub $100 times, then it becomes increasingly hard to have a sober outlook towards Bitcoin?
Sure, widespread uptake, adoption, and development based upon the Bitcoin protocol may well take Bitcoin to unforseen heights, or legislative pressure from western governments may bury it. But that is all to come. What is on the plate just now is the China syndrome. I hear lots of people dismiss the significance of China's scheduled exit from open market Bitcoin trading, but I have never heard a convincing argument why.
I don't know if I am sober but I believe that bitcoin will end up either sub $0 or >$1M but it is irrelevant. What really matters are idea behind this crypto. At some point it will win legal or not. I will ride the cart to the end( my end ). The name bitcoin litecoin whatever...Idea matters. Can't you see no one can stop this in long term.China will embrace it at some point not today then in 2020. We are all early adopters here and we will gain the most
