Can bitcoin reach $5000 again without China ?

[bitcoincryptochamber]

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

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[Graphics]

Yes and it will. Why should it not?

[ayesha201009]

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

probably right now no, it can't. because most of the operating miners are china based, most of the big whale for trade are also based there.
So in a short term I think we can't see this value again, let's see difficult or hash power on btc wisdom: is pretty clear mining operations have get a sort of ALT in these days.

[tyuner4]

IMO, BTC can reach $5000 again with or without China banning the exchanges.

As you can see, the chinese are finding all sorts of ways to trade BTC. The latest i heard of is trading OTC over telegram.

https://bitcointalk.org/index.php?topic=2184765.msg21917799#msg21917799

[Zalfa_mui]

yes it is very likely to happen,
although without china, bitcoin prices can still soar,
china does have a big effect In bitcoin,
but it does not make weak bitcoin without china,

[Shamie1002]

Why depend only on China ? The only thing needed to achieve higher prices is to adapt the use of bitcoins more in the community. Exchanges through selling ang purchasing bitcoin will increase demand and decrease supply making it worth more and increase more through the continuous process.
China is not the only population needed, there are other countries too.

[nightwishx]

Of course, I can. bitcoin now has a strong foundation in the form of a large community and investors (apart from China). so I guess bitcoin can still get a price of $ 5000 or even $ 6000 when the situation is stable.

[DenCho?]

Of course yes! It will a bit slower but of course it will go up. Everything is ok due to elliot theory. So buy low and wait a bit

[LodisMcguire]

Yes it will reach 5k and even higher,but not as fast as you think,maybe it will come in the end of the year or early 2018
Just buy the dip now if you want to make profit later

[DortheyLedwig5010]

Well no doubt it will reach there but I hope not just yet. Let it fall badly so some stop losses can hit and latecomers can get some advantage.

[Pursuer]

After the fall due to china ban , Bitcoin has dropped on short term basis .

China never banned bitcoin. it never even banned anything else remotely related to bitcoin!
and bitcoin price drop was not at all because of China and what they did. it was because of the FUD and panic that was spread in disguise of China news.

Can it reach up to $5000 again without China ?

sure it can. the FUD can not last forever and the idiot weak hands have limited amount to panic sell. they will be flushed out of the market and then everyone else remaining will take advantage of the low price only. by that time it will be a competition over who can buy cheaper and faster before it is too late.

[jurez]

I think China is not the biggest problem. I believe China is invested too heavily to go for a complete/absolute ban. I'm more concerned about the people who make sure the $ doesn't get devalued -- their media reach still does magic.

[iv4n]

Yes it can, but why without China? After some bad news and couple closed exchangers you are talking about China like they are out of the game but that can't be truth. Do anyone here knows how many miner's come from China? What will they do with mining rigs? After so many years in bitcoin making money they will just quit like that?
We need to see the end of this campaign against bitcoin and crypto currencies, I think Chinese government steps and some JP Morgan CEOs can try to stop bitcoin but that will not happen, they will fail once again and people of China will find a way to continue with earning and supporting bitcoin.

[Question123]

Even china ban bitcoin exchange to their country. For sure it will reach 5k dollars without the help of china because many country until today support and believe in bitcoin.  If you want to see bitcoin price reach again 5k dollars you can buy bitcoin at your first . Let show to china even withour their help we can reach 5k dollars any amount that we want to reach. Because they have unity.

[kachimasu]

Unless they start shutting down mines, sure

[alyssa85]

The answer is Yes - the closing of the dodgy Chinese exchanges makes it more likely that an ETF is approved for example, which would bring in a huge amount of institutional money from pension funds and the like.

When the SEC ruled on the ETF at the start of the year, they specifically mentioned price manipulation in unregulated exchanges for their reason for denying the ETF. They were referring to the Chinese exchanges which had fake volume, probably fractional reserves and all sorts of dodgy practices.

[LateralThinkerer]

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

Of course yes. $5000 is still cheap.

[Carlsen]

The price is just a result of supply & demand.
China broght a lot of money and demand to bitcoin. But I see no reason why the rest of the world should not be able to compensate that.
Of course it would take a while, but people in other countries are turning to bitcoin as well.
The 5k are only a matter of time.

[HeRetiK]

Sure. Even if China fully turns their back to crypto, we will have lost "only" about 1/5th of the world's GDP. Bitcoin's potential upside however is much more than that.

Unless they start shutting down mines, sure

Even if they started shutting down the mines, there will always be more than enough hashpower to take their place. That's the beauty of it.

[xypos]

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

This year? In my opinion, probably not. But in the next few years, especially after the 2020 halving, it is almost a given that the price is going to go up to $5000 once again. In fact, i would even bet my money on btc going to at least $8k by the start of 2021.

But right now markets have turned bearish and i think will continue to be for a while.

China is a major player, but it's not the entire market. BTC will survive this, despite any shutdowns. But price will suffer.