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

[ReLieD]

It was obvious going to happen. They faked the news about Bitcoin just to make the prices fall . Infact Jamie actually bought like millions of btc I guess . Even he knew that Bitcoin has a future and even later it was revealed that the news of china boycotting Bitcoin was fake . So definitely people will not focus on them now .

[1713436719]

1713436719

[Hydrogen]

The Catalonia Referendum: Catalonia's attempt at seceding from spain and pulling a brexit of their own, could have been largely responsible for bitcoin's price rise over $4400 btw.

Catalonia Referendum Pushes Bitcoin Prices Above $4,400

October 2nd, 2017

News that Catalonia has won "right to statehood" sent the price of Bitcoin at $4,400 on Sunday evening, close to 45% above the recent low.

It’s now official, 90% of Catalans who participated in Sunday’s referendum voted for independence.

That sounds like a clear victory for Catalonia’s independence movement.

The trouble is that only 42.3% of Catalonia’s participated in the referendum, which Spain’s constitutional court has declared illegal. And scores of people were injured in clashes with police.

While it is still unclear which way things will go next, one thing is clear, uncertainty is to spread over Spain, EU and the global economy.

That’s music in the ears of Bitcoin traders who pushed the digital currency up close to $150 dollars on Sunday evening, as clashes between pro-independence demonstrators and Spanish police broke off.

Bitcoin prices have stayed firmly above $4ooo recently, as traders have realized that the digital currency can survive and thrive without China. And government regulation is positive, not negative, for the future of Bitcoin and other major cryptocurrencies. It adds credibility to the market, while limiting the supply of new coin offerings.

Meanwhile, the digital currency has emerged as the new “gold,” a hedge against growing global uncertainty, as it was discussed in a previous piece here.

https://www.forbes.com/sites/panosmourdoukoutas/2017/10/01/catalonia-referendum-pushes-bitcoin-prices-above-4400/

Catalonia is 20% of spain's entire GDP. Catalonia pays more revenue into spain's central government, than they receive. Its a similar circumstance to the UK paying more revenue into the EU than whatever they receive in return.

A decent proportion of the EU's wealth is consumed supporting state's like greece which appear unable to address corruption or dysfunction at the leadership levels. Brexit could make sense as standard policy until corruption/dysfunction issues on the part of governments which consume wealth without producing much in the way of positive tangible returns can be addressed.

[jekjekman]

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 am so confident back then when this issues happened last month that Bitcoin will surely bounce back as this Jamie Dimon guy has already have a record of bashing Bitcoin in year 2015 and after that the price of it still arises plus we all know that this guy is a banker and banks really hates cryptocurrencies as it will cause the fall down of banks in the future.

And with the issues with China it is quite alright also because they didn't even regulate mining where it is most needed, Chinese people is too smart to believe to the downfall of bitcoin, history repeat itself so sorry for those people that got scared about this FUD's.

[BitcoinMarshal]

It was obvious going to happen. They faked the news about Bitcoin just to make the prices fall . Infact Jamie actually bought like millions of btc I guess . Even he knew that Bitcoin has a future and even later it was revealed that the news of china boycotting Bitcoin was fake . So definitely people will not focus on them now .

Now we are living in technology era and peoples have too many sources just because of this these fake news never creating any panic for any one China factor is also not working as most of peoples expecting because now many countries have soft policies for Bitcoin like Japan and Philippine which is increasing value peoples confidence about bitcoins

[BillyBobZorton]

The Catalonia Referendum: Catalonia's attempt at seceding from spain and pulling a brexit of their own, could have been largely responsible for bitcoin's price rise over $4400 btw.

Catalonia Referendum Pushes Bitcoin Prices Above $4,400

October 2nd, 2017

News that Catalonia has won "right to statehood" sent the price of Bitcoin at $4,400 on Sunday evening, close to 45% above the recent low.

It’s now official, 90% of Catalans who participated in Sunday’s referendum voted for independence.

That sounds like a clear victory for Catalonia’s independence movement.

The trouble is that only 42.3% of Catalonia’s participated in the referendum, which Spain’s constitutional court has declared illegal. And scores of people were injured in clashes with police.

While it is still unclear which way things will go next, one thing is clear, uncertainty is to spread over Spain, EU and the global economy.

That’s music in the ears of Bitcoin traders who pushed the digital currency up close to $150 dollars on Sunday evening, as clashes between pro-independence demonstrators and Spanish police broke off.

Bitcoin prices have stayed firmly above $4ooo recently, as traders have realized that the digital currency can survive and thrive without China. And government regulation is positive, not negative, for the future of Bitcoin and other major cryptocurrencies. It adds credibility to the market, while limiting the supply of new coin offerings.

Meanwhile, the digital currency has emerged as the new “gold,” a hedge against growing global uncertainty, as it was discussed in a previous piece here.

https://www.forbes.com/sites/panosmourdoukoutas/2017/10/01/catalonia-referendum-pushes-bitcoin-prices-above-4400/

Catalonia is 20% of spain's entire GDP. Catalonia pays more revenue into spain's central government, than they receive. Its a similar circumstance to the UK paying more revenue into the EU than whatever they receive in return.

A decent proportion of the EU's wealth is consumed supporting state's like greece which appear unable to address corruption or dysfunction at the leadership levels. Brexit could make sense as standard policy until corruption/dysfunction issues on the part of governments which consume wealth without producing much in the way of positive tangible returns can be addressed.

Big banks and business in Catalonia are already moving away from Catalonia into Spain, rates for tourism are already going down in Catalonia, this shows the mistake of an independent Catalonia. I expect this to get worse as long as they stay out of the legal constitution. I hope this is solved in a civilized manner but if independentists push it too far I wouldn't be surprised to see the army on Catalonia. What did they expect? unilateral independence is simply illegal, the entire country most vote in a referendum.

Let's see if at least Bitcoin performs great in times of uncertainty.

[GimmerBot]

One of the best feature/aspect of both bitcoin (and the crypto market in general) that anything could happen, the prices will always recover. Bitcoin and other cryptos are in an increasing demand (the cryptocurrency market's capitalization stood at $18 million at the start of 2017, now it is over $140 million). I think in the case of all Chinese exchanges would shut down, the people of the country would always find a way to invest in BTC.

[Ewinsane]

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.

It only created panic among few investors who just got in most especially with the mindset that bitcoin is going to make them rich overnight only to start seeing the value dropping.

Apparently, they must have learnt their lessons by now and eventually realize that there are some people who just want to take advantage of them, so rather than seeing bitcoin as the enemy, they should see those guys instead as their enemies.

[sana54210]

I am not surprised we will start seeing positive news like this circulating the forum after some few weeks of shaking up the pants by some and raining curses and abuses after Jamie saw a chance to utilize their fears for his own gains.
It is good though that we are back, the most important thing now is for people to realize that Jamie and the likes of him, never had their interest at heart.

[miyaka26]

Among other bad news or fake news that is spreading is a lot of good news and positive speculation about this coin, people are now realizing that bitcoin is strong that can withstand any unfavorable circumstances that is happening technically or financially, we also realize that listening and reading to this so called news is not enough to be a good source of smart information. a lot of people now are researching and do not go to the conclusion of panic selling unless it is proven.

[Anthonyling]

More and more people are aware of bitcoin. More and more people are studying bitcoin. More and more people don't believe in government. More and more people believe in freedom.

[ladydark]

Yes,i think that most people have realized that bitcoin is unstoppable and Jamie Dimon and China does not matter at all.but still,the game is not over since another hard fork is expected in due to activation of segwit 2x.This time,more miners,exchanges and bitcoin related companies support it and hence another wave of FUD could be expected and it may result in one more panic selling and bitcoin price may face a fall.But it would be another chance to grab bitcoins at cheap price.

This would continue to happen since new people enter the bitcoin community daily and get the title newbie to get panic and sell bitcoins at cheap rate.

[Thyaga]

More and more people are aware of bitcoin. More and more people are studying bitcoin. More and more people don't believe in government. More and more people believe in freedom.

I think bitcoin is not freedom because freedom is anonymity and privacy, we know that crypto currency is very transparent. so where the freedom in btc?

[peter0425]

Among other bad news or fake news that is spreading is a lot of good news and positive speculation about this coin, people are now realizing that bitcoin is strong that can withstand any unfavorable circumstances that is happening technically or financially, we also realize that listening and reading to this so called news is not enough to be a good source of smart information. a lot of people now are researching and do not go to the conclusion of panic selling unless it is proven.

But you have to go back how the market works, its based on purely "speculation". Its a fraudulent act, and we don't like it. However, their are really people who are really affected by this bad or fakes news. Of course its not a good source of information but its very effected and it spread like wildfire.

 I really would like to believed that the investors are already matured, however its in the case. Their are still "weak hands" in the market. They are the first one to push the sell button whenever their is a panic around without even researching if the news is fake or not.

[sapnu]

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 became hard for Bitcoin to recover because of the massive downfall that happened. Fortunately, Bitcoin is slowly recovering and is now priced at 4200 from the price of 3300 when the value dropped. It is now expected that before this year end, it will be able to reach the 5000$ mark without China and if the Next hardfork will be successful reminding of the previous one that made the value of Bitcoin to go skyrocket.

[talkbitcoin]

i honestly didn't expect such a strong buy support behind bitcoin to keep the price high at this level.
obviously a recovery was expected even back when price reached the bottom at $3000 it was calling the $4000 come back soon. but i didn't expect the $4300-$4400 range to be sustained this strongly.

all the Dimon and China drama has always been a temporary thing. this is the story of bitcoin as far as i can remember. same FUD, same people taking advantage and becoming bigger whales and price rising in long term without paying any attention to any of them

[Lampaster]

More and more people are aware of bitcoin. More and more people are studying bitcoin. More and more people don't believe in government. More and more people believe in freedom.

I think bitcoin is not freedom because freedom is anonymity and privacy, we know that crypto currency is very transparent. so where the freedom in btc?

Limited freedom is fine too. Agree that Fiat is more under government control than bitcoin. The degree of freedom depends on people. First, we are responsible for the government that we choose and then they restrict our rights. Then we are converting the bitcoin bubble. And finally the constant hostility of the miners and developers, it also adds to the popularity and demand for bitcoin.

[Almat]

I don't think Dimon actually ever mattered. At worst, he probably stopped some people who were on the fence about buying Bitcoins. The China news was quite significant, as there are a lot of Chinese Bitcoin holders, but we're currently finding out that people are more than willing to pick up Bitcoins China dumps.

[ipanks]

i think we don't have to thinking about bad news that might be happen in out there. as long as we can hold our bitcoin for a long time, then i think its enough for us to see the high price. i am sure that this person is only taking advantages from the down of the bitcoin price so he can buy bitcoin at lower price. i think he have a tactic that could make people out there to be panic selling so will makes the price is down too deep. but i think people now become realize that this is only the bad news that want bitcoin price to down.

[XinXan]

I don't think Dimon actually ever mattered. At worst, he probably stopped some people who were on the fence about buying Bitcoins. The China news was quite significant, as there are a lot of Chinese Bitcoin holders, but we're currently finding out that people are more than willing to pick up Bitcoins China dumps.

A lot of people argue that china bad news is making bitcoin stronger. It shows that even if a big country like china goes against bitcoin it can still survive and not only survive but fully recover and that's how it should be, I mean that was the point of bitcoin in the first place, to not be controlled by anyone or anything.

[audaciousbeing]

Its true that bitcoin is recovering and its sure that recovery has been a sustaining one even though the all time high is yet to be reached, but while I will agree that we are doing well without Jamie Dimon, it would be wrong to say that without China.

Because the basis of bitcoin transactions which rest on the activities of the miners is still dependent on that part of the world and that means until there are other big mining farms spread across the world, China will and continue to matter on what happens to bitcoin even after we have confirmation that they are stopping exchange sites.