A bullish outlook for the future?
Just like any sort of pressure.. it continues to build.. and takes more and more force to keep it contained. Two things can happen.
A) The pressure continues to build to the point no amount of physical force can stop the pressure from escaping and the Item under pressure escapes and expands insanely fast.
B) The pressure dies down and the item can easily be contained.
Very curious to how this will play out. With enough buyers (pressure) no matter what PBOC does they are doomed to fail at keeping the price at $1000.. and eventually it overpowers them and skyrockets. Wondering if there will be enough.. it is seeming more and more like PBOC is doomed to watch BTC blow up in their face but hey perhaps not
I guess you should first explain why exactly the PBoC tries to contain prices
What does it give them if they are really pursuing this end? As to me, they don't care so much about Bitcoin price as the price of the Yuan (say, in the US dollars). And even not so much about that price itself as control over their currency. What I mean is first of all control over inflation. Basically, they expect that their currency should be used, at least, inside China. But if folks start using Bitcoin (somehow I won't be surprised if ordinary people in China start using Bitcoin for real, as a means of payment), they will massively abandon the Yuan
![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fs013.radikal.ru%2Fi322%2F1702%2Fa8%2F10dc0bc276b3.jpg&t=665&c=0sIxg9xOHts8MQ)
Like it happened in Zimbabwe where the local dollar got eventually replaced with the American one