3 Indicators for Current Bitcoin Price Rally

[Paleus]

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Historically, November has been an explosive month for the bitcoin price. In 2013, the price of bitcoin rallied to highs of over $1200 amid positive rulings in the USA on the potential for financial applications to be built using bitcoin technology.

Bitcoin could be in the early stages of a similar price rally to what transpired over the course of late 2013. This time, the exchange infrastructure is at a level where large investment is active in the space.

BULLISH BITCOIN PRICE INDICATORS

• European Union Court of Justice Rules Bitcoin Transactions VAT Exempt – By removing value-added taxation, bitcoin can flow freely between other currencies and is not subject to sales tax when transferred. With this ruling, many of the top bitcoin businesses in Europe are breathing a sigh of relief.
• Gemini Bitcoin Exchange Targeting Institutional Players – “… we are going after a very large market that is to date completely underserved or not even in Bitcoin at all”, Cameron Winklevoss said about the launch, “I think it’s a good thing that there are multiple efforts trying to build bitcoin infrastructure (including Coinbase) so that we can get this thing to the moon.”
• Chinese Driven Surge – China recently capped overseas cash withdrawals, signaling a tightening grip on capital controls and an increase in bitcoin buying pressure from Chinese exchanges

How high could bitcoin go this time?

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[Meuh6879]

Rally need ...

POWWWEEEEEEEEEEEERRRRR !

[Mickeyb]

Let's add to this that Chinese from today can again deposit Yuan directly to the exchanges from their bank accounts. Something that they couldn't do for a while. So no more need for vouchers and workarounds in order to fund their accounts with Fiat.

This move will fuel current run even more. Bitcoin can go very, very high this time around!

[KokiFurihata]

Unless there is mass adoption China this is probably a buble that will most certainly burst. perhaps it will burst at 500, 1000, 5000, who knows.

[ebliever]

If it goes up too fast and too hard it will burst. But every time bitcoin goes into bubble mode and crashes back down, it settles at a higher point than the previous plateau. So if the pattern holds (and I'm NOT saying it will), this time it might go to $3000, then crash back down to $600 or something.

[schnib]

Let's add to this that Chinese from today can again deposit Yuan directly to the exchanges from their bank accounts.

where did you get this from ?

[Ashbite]

And so the speculation begins again buddies. I have faith this time, the sudden spike in the price has never occured in 2 years. The Chinese are doing a great job!

[1990BEARS]

Great thread, good to see why the price is booming!