Money Is Literally Pouring Into Bitcoin

[darkangel11]

More and more countries are legalizing btc so people are buying it.

More and more? Meaning how many did a full legalization? I'm not talking about allowing people to use it, but making laws that allow it to be recognizable by authorities.
Legalization doesn't mean acceptance and popularization, hold your horses!
How many Japanese merchants are really using Bitcoin? This is more of a hype created by "what if" than an actual acceptance.

[bouren]

The time has come when short-term investors and day-trader will repent. In Asian countries bitcoin is trading at the premium of $500-600 !
It is always good to hold bitcoins for long period than putting amounts in mutual funds, banks, etc

[GreenBits]

The time has come when short-term investors and day-trader will repent. In Asian countries bitcoin is trading at the premium of $500-600 !
It is always good to hold bitcoins for long period than putting amounts in mutual funds, banks, etc

Seems like folks are going full derp, but it remains to be seen what traditional markets do relative to bitcoin, to see if this growth will be sustained, or subject to retraction. This feels like right before MT Gox went off the rails. People kept buying despite the bubble, and when it finally popped, people were a bit salty that they had just paid 1000 for something they could later get for 400.

[European Central Bank]

I have to pay more than %20 to be able to buy bitcoins on cex.io now. I remember it well it was 10% or something a while ago.

Check this out: http://www.zerohedge.com/news/2017-05-22/bitcoin-blasts-through-2200-heres-why

In some Eastern countries like Korea, the premium became %27!!! That means people are willingly paying %27 more than the spot market price just to be able to buy them.

When mikenz said that "there aren't enough bitcoins for everyone", i guess he was right.

To be honest i am scared to buy in a time like this though...whether if there is enough of supply or not.

that's the pure definition of FOMO. if there isn't a bubble in the west, there certainly is one in the east. koreans and the japanese particularly are exactly where the chinese were in 2013, a new hype.

i guess the difference is the japanese government is fully behind bitcoin now, that still doesn't mean there won't be a horrific blowoff at some point. could be a bunch higher though.

[Babyrica0226]

More and more countries are legalizing btc so people are buying it.


A lot of people don't realize this, but the reason other countries didn't have many average people buy bitcoin is due to their law structure and their norms.

The example is that in USA if there is no law one way or the other, it is reasonable to assume you are allowed to do something until a law is put forward, and that you likely would not be charged for something you did while there was no specific law on that thing.. Btc didn't have any rulings on it for awhile, yet we are all perfectly content to invest into it amd use the system. We know that we will largely not get into trouble by using it.

Other countries are the opposite. Average people there will not use bitcoin because they wait for a law to be made so they do not get into trouble. Many countries operate this way so that is why we will continue to see money poured into btc. More and more countries are giving legal rulings and that signals average people they are ok and will not be breaking law.

Yeah your right! many of the country by now are legalizing the bitcoin, like in Korea, Japan, China and etc.
This is actually, a great news to all bitcoin community in the entire world.

[mk4]

$5000 on the end of the year. :fingers crossed: