Bitcoin Surges Above $4400 As World Realizes Jamie Dimon & China Don't Matter

[krishnapramod]

Bitcoin just topped $4400 for the first time since in over 3 weeks and has now erased all of the plunge losses from Jamie Dimon's "it's a fraud" and China's shuttering of all local exchanges.

It didn't take long for the world of crypto-currencies to shrug off Jamie Dimon's self-tighteous denigration of the decentralized currency that could directly 'disrupt' his cash cow businesses; and furthermore, as The South China Morning Post reports, China's bitcoin market alive and well as traders defy crackdown.

Although the crackdown has dissuaded large swathes of less-experienced investors from participating in the trade, market participants point to the limits Chinese regulators ultimately face in controlling the industry, where many users are anonymous and difficult to track.

In the short-run, the crackdown has also created an arbitrage opportunity for investors, with the price of bitcoin in China now trading at a discount to overseas exchanges.

http://www.zerohedge.com/news/2017-10-01/bitcoin-surges-above-4400-world-realizes-jamie-dimon-china-dont-matter

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[Batmain]

Bitcoin just topped $4400 for the first time since in over 3 weeks and has now erased all of the plunge losses from Jamie Dimon's "it's a fraud" and China's shuttering of all local exchanges.

It didn't take long for the world of crypto-currencies to shrug off Jamie Dimon's self-tighteous denigration of the decentralized currency that could directly 'disrupt' his cash cow businesses; and furthermore, as The South China Morning Post reports, China's bitcoin market alive and well as traders defy crackdown.

Although the crackdown has dissuaded large swathes of less-experienced investors from participating in the trade, market participants point to the limits Chinese regulators ultimately face in controlling the industry, where many users are anonymous and difficult to track.

In the short-run, the crackdown has also created an arbitrage opportunity for investors, with the price of bitcoin in China now trading at a discount to overseas exchanges.

http://www.zerohedge.com/news/2017-10-01/bitcoin-surges-above-4400-world-realizes-jamie-dimon-china-dont-matter

It is expected that we will have this kind of issues and news and critisism about BTC. Some says that this is only a technique to stop BTC price from surging and some says that someone is being hurt because its a potential threat to them. Despite all of this, the price is still hangging on and the unwavering adopstion of the blockchain all over the world cant be stop by a mere people and by a large government. Snowden, elon and even some celebrities are aware of it and they have participated and invested in some coins.
Me as an audience and as an investor will watched as the price go up to the moon.

[xuan87]

Yes it is a great rising, and people believe that Bitcoin still a great investment even after the price drop so low, the trust of the investors are the ones that keep Bitcoin alive, and one country, one man can't make Bitcoin down, and Bitcoin's price recover in a very fast pace

[Jovovich]

Yes it is a great rising, and people believe that Bitcoin still a great investment even after the price drop so low, the trust of the investors are the ones that keep Bitcoin alive, and one country, one man can't make Bitcoin down, and Bitcoin's price recover in a very fast pace

And according to the article, even some citizens in China are investing in bitcoin so safe to say bitcoin didnt really lose the support of Chinnese traders and it's just the government that is having a hard time finding ways to regulate crypto currency. Besides it is not just Jamie Dimon who are against bitcoin. Even american businessmen have had heresy on bitcoin but bitcoin is still surging in its price.

[davis196]

All the newbies realized that China and Jamie Dimon don`t matter and they stopped panic selling and started buying btc again.I`m pretty sure that Jamie Dimon owns bitcoins and all the shittalk about btc was to lower the btc price so he could buy more.
I`m glad that i HODLED my bitcoins and refused to sell when btc price dropped to 3300 USD.
I year or two ago, i was a part of the newbies that were panic selling every time the btc price went down.

[kimochidesh]

These negative news created a panic among the investors in the crypto-market for some time, but people realize that this is just a propaganda to control the bitcoin price. Big names like Jamie Dimon take the advantage of this opportunity to double their wealth. Expected to see bitcoin price up to $5000 by the end of oct.

[TheUltraElite]

The last month has been very challenging for bitcoin and the altcoin markets. From people using scare tactics to scare panic sellers away from bitcoin to those who really understand the worthiness of blockchain technology and trust in it. I think this is a good proof beyond doubt that the crypto market will be profitable no matter what happens and that bitcoin price is bound to increase and rise beyond the 5000USD mark next month.

All this news of bitcoin only leads to more exposure of people to bitcoin and that investors are counting on it to buy more and hold more. This is a very healthy market now and I see more profits in future for the traders.

[iram1011]

Market is today mature enough to recover from these FUDs in a month. Price has broken down the resistance level of $4200 as predicted by some experts that if Bitcoin passes over the $4200, then it will continue to grow else it will fall back to $3500 back. Since the outcome is positive. I am looking forward to see ATH in October.

[Chachacoin17]

Bitcoin just topped $4400 for the first time since in over 3 weeks and has now erased all of the plunge losses from Jamie Dimon's "it's a fraud" and China's shuttering of all local exchanges.

It didn't take long for the world of crypto-currencies to shrug off Jamie Dimon's self-tighteous denigration of the decentralized currency that could directly 'disrupt' his cash cow businesses; and furthermore, as The South China Morning Post reports, China's bitcoin market alive and well as traders defy crackdown.

Although the crackdown has dissuaded large swathes of less-experienced investors from participating in the trade, market participants point to the limits Chinese regulators ultimately face in controlling the industry, where many users are anonymous and difficult to track.

In the short-run, the crackdown has also created an arbitrage opportunity for investors, with the price of bitcoin in China now trading at a discount to overseas exchanges.

http://www.zerohedge.com/news/2017-10-01/bitcoin-surges-above-4400-world-realizes-jamie-dimon-china-dont-matter

Wow! This is very great news! As what I have expected and believed, bitoin will definitely soar again. Despite all the banning and negative issues about bitcoin, bitcoin still is alive and kicking! Now, $5000 to hit this year is not impossible. I think it will goes up to $7000 this Novber or December. Now, who says bitcoins is failure? Nehhh..they are just big losers... ;p

[TagaMungkahi]

Bitcoin just topped $4400 for the first time since in over 3 weeks and has now erased all of the plunge losses from Jamie Dimon's "it's a fraud" and China's shuttering of all local exchanges.

It didn't take long for the world of crypto-currencies to shrug off Jamie Dimon's self-tighteous denigration of the decentralized currency that could directly 'disrupt' his cash cow businesses; and furthermore, as The South China Morning Post reports, China's bitcoin market alive and well as traders defy crackdown.

Although the crackdown has dissuaded large swathes of less-experienced investors from participating in the trade, market participants point to the limits Chinese regulators ultimately face in controlling the industry, where many users are anonymous and difficult to track.

In the short-run, the crackdown has also created an arbitrage opportunity for investors, with the price of bitcoin in China now trading at a discount to overseas exchanges.

http://www.zerohedge.com/news/2017-10-01/bitcoin-surges-above-4400-world-realizes-jamie-dimon-china-dont-matter

I love this kind of news and i just hope the World learned their lessons with this event and hopefully The World will now be smart enough to take time to read and check every sources and learn how to research, this scheme of big companies will now be dead and thanks to China x Morgan event, the world is now awakened.

[TheCoinFinder]

There are still a lot of people lacking consensus on bitcoin currency but people are voting bitcoin more than before by investing magnanimously into this market.
After weeks of volatility,the forecast confides us about price to be trend up continuously leaving behind china regulators speculation.
For me, it is an indeed surprising moment that bitcoin again crossed $4000 without china's support.
People including me are surpassingly expecting $5000 soon.

[swogerino]

Bitcoin cannot be stopped no matter what China or Jamie Dimon makes. If more and more people start to you use bitcoin the price of bitcoin should only see uptrends although in long term periods. Do not expect that the price of Bitcoin to skyrocket in a short amount of time. Steadily with the passing of time bitcoin price should only go up. It is not that important what China does.

[sindikat]

There are still a lot of people lacking consensus on bitcoin currency but people are voting bitcoin more than before by investing magnanimously into this market.
After weeks of volatility,the forecast confides us about price to be trend up continuously leaving behind china regulators speculation.
For me, it is an indeed surprising moment that bitcoin again crossed $4000 without china's support.
People including me are surpassingly expecting $5000 soon.

Why are you so sure that without the support of China? We've all heard whispers of. Who saw action? I would not be surprised if it turns out that after such an information attack China will become a large shareholder of bitcoin.

[hase0278]

Bitcoin just topped $4400 for the first time since in over 3 weeks and has now erased all of the plunge losses from Jamie Dimon's "it's a fraud" and China's shuttering of all local exchanges.

It made me happy to see that bitcoin have rised despite Jamie Dimon saying it is a fraud and China's local exchange ban. Sooner or later if China really doesn't affect btc price in the next few movements in the next coming weeks or year, then for sure it would be made clear to the world that market is healthier and is not the same crypto market which is commonly manipulated by Chinese and by some other entity.

[Sled]

The price of bitcoin is keep on going up and i think that there is no dump in the market as of now because the people already realize that they don't need to listen to the bad news like FUD because it doesn't help them to earn money but to just panic. Majority of the people in bitcoin knows the best thing to right now and that is to keep holding for long term and don't entertain any FUDs.

[beerlover]

Bitcoin has always had a very good support and the support is growing daily. Some of those who are part of this trend today and have realized what the whole FUD was all about will be looking for chances like this to buy more tomorrow when the price dips a little, knowing how good it is for them than panicking. Like you said, the recovery so far has been stunning and I am sure things will get better with time.

[BillyBobZorton]

There are still a lot of people lacking consensus on bitcoin currency but people are voting bitcoin more than before by investing magnanimously into this market.
After weeks of volatility,the forecast confides us about price to be trend up continuously leaving behind china regulators speculation.
For me, it is an indeed surprising moment that bitcoin again crossed $4000 without china's support.
People including me are surpassingly expecting $5000 soon.

I think the quick recovery after an insane attack of bitcoin coming from China and JP Morgan is a very bullish sign and brings peace of mind on investors that were worried about what could happen in an hypothetical ban by a big country. Well it happened, now we need to hit an all time high in order to clear any doubts that this is a clear recovery and not a dead cat bounce.

Im not worried about the current pullback, seems like regular market action after the rise. Start worrying if we approach $3400 again.

[miyaka26]

Bad move for the China, we are correct that bitcoin survived without them in spite of its bad and wicked criticism that attacks the bitcoin and spread fear to its loving investors and supporters but here we are, to its skyrocket price value in the market and it has the potential to go even higher.

[webtricks]

Bad move for the China, we are correct that bitcoin survived without them in spite of its bad and wicked criticism that attacks the bitcoin and spread fear to its loving investors and supporters but here we are, to its skyrocket price value in the market and it has the potential to go even higher.

How could you say it was bad move for China? It wasn't like Chinese government invested billions in Bitcoin before and now sold off!
It is just a precautionary step by Chinese government to avoid laundering loopholes in economy. Don't think it would stop here.
The future of Bitcoin is simple. "Either Ban or Regulation".

[jtipt]

These negative news created a panic among the investors in the crypto-market for some time, but people realize that this is just a propaganda to control the bitcoin price. Big names like Jamie Dimon take the advantage of this opportunity to double their wealth. Expected to see bitcoin price up to $5000 by the end of oct.

The Steep drop was just caused because of the panic selling of the newbie traders and people who believed Jaime Dimon. Obviously the long time holders didn't care about it and were one of the reasons why the price stayed above $3k and eventually come back up.