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

[Kemarit]

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

It only means that we have still a market even without China. I assumed that the buy support came mostly from Japan and South Korea. And even in India bitcoin price is up with a premium of $100 difference from other exchanges. We have all moved from the Dimon and China drama. It really proves that bitcoin is cannot be conquered by any one, not by country and definitely not by a person who is just spreading FUD to manipulate the price. They can only affect the price temporary and after that bitcoin continues as if nothing happens.

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[thebanker28]

I would think that Jamie or China "Dont Matter", more appropriately I would think they are less significant that the reaction the markets first reaction. Jamie controls a lot of money and China is a significant portion of not only the Bitcoin ecosystem but of the world economy, I think over time, China will find a better way through and Jamies comments will be seen as misguided.

[redhondaxrm125]

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

This was obviously bound to happen. People aren’t dumb(well maybe some are but not everyone). I already knew this was gonna happen sooner or later. That is why I held on to my possesions and never considered selling them.

Reason is, first of all, dimon, doesn’t understand what he is talking about that much and is probably just basing his conclusions with hear says. Second, everyone with common sense would know that even if bitcoin and all other cryptos get banned on china, not everyone would sell their possessions. And i mean most of the chinese won’t. They just love money too much to sell their crypto possessions.

So..

[centralbanksequalsbombs]

Bitcoin at this point is unstoppable (and actually has been so since 2013, over 4years ago). Consider anything you hear to be free advertising. Good or bad.

[michellee]

finally we can reach more than $44xx today and our hope to reach more than $45xx can be happen in next week. I think people become smart to analyze the news, they are know which is bad news that only makes people panic and which is good news that will lifted bitcoin to increase. we can hope that many people out there especially for new people don't gets panic when someone release the bad news to trying to chaos in the market.

[Pearls Before Swine]

Bitcoin has survived much worse news than either China or JD.  It survived the Mt. Gox disaster,
Cryptsy, Trendon Shavers scamming his depositors, and everything else.  China is huge in the
world of bitcoin, but it's only one country among many.  It's not that those things don't matter,
but neither one dictates what crypto does entirely.

Nice to see BTC rebounding above $4400.  Hopefully we'll get back to $5000 by the end of the
year or thereabouts.  Too bad I don't have enough cash to buy in.  Maybe next week.

[gilad215]

But what I think is more than China or Jamie Dimon, the bulk holders are the one who took the advantage of these news and drove the price by crushing the panic sellers who usually are small investors. Now when they have successfully increased their holdings by buying at drop, the price is again in uptrend despite of South Korea ICO ban which brought little or no impact on price unlike China.

[gabbie2010]

This is indeed a good news and this shows that bitcoin belongs to the masses, China and Jamie Dimon action thus created panic selling, which tends to crash the price of bitcoin, people are no longer selling again they prefer holding it now and the price has picked up.

[btc_angela]

Bitcoin has survived much worse news than either China or JD.  It survived the Mt. Gox disaster,
Cryptsy, Trendon Shavers scamming his depositors, and everything else.  China is huge in the
world of bitcoin, but it's only one country among many.  It's not that those things don't matter,
but neither one dictates what crypto does entirely.

Nice to see BTC rebounding above $4400.  Hopefully we'll get back to $5000 by the end of the
year or thereabouts.  Too bad I don't have enough cash to buy in.  Maybe next week.

We are in the same position. Hahaha. Not enough cash this week. Yeah, I have to agree, there are a lot of worse case that bitcoin confronted in the past but yet it is still standing. I looking at the price at its always $4500 and expect the price to push to $5000. Jamie Dimon and China really don't matter and irrelevant, obsolete. Let that be a lessons as well for those who have intentions to break bitcoin again. Bitcoin is uncontrollable, they can try but its gonna be futile.

[Eugenar]

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

That's great news. It simply proves that Bitcoin can still succeed even if it lose one of the major investors of cryptocurrency and desoite of the false and negative claims of people towards it. It is something to look forward with. If the increase on its value will be continuous and will continue upto the next years to come, it will be more expensive. Bitcoin gone through lots of issues and it is able to recover on each of those, so this one is nothing.

[Sadlife]

The only reason why bitcoin price drop so hard is because when people heard that china is banning ICO's and caused panic so a large group of traders immediately sell their bitcoins without thinking that this might be a good chance to buy more cause this is completely normal cause even other resources doens't always rise high but sometimes takes a dip. The funny part is most of these people are new investors, this jamie whoever he is nothing but a con artist telling people that its a fraud everyday while he tried bitcoin when its in a dip.

[centralbanksequalsbombs]

The only reason why bitcoin price drop so hard is because when people heard that china is banning ICO's and caused panic so a large group of traders immediately sell their bitcoins without thinking that this might be a good chance to buy more cause this is completely normal cause even other resources doens't always rise high but sometimes takes a dip. The funny part is most of these people are new investors, this jamie whoever he is nothing but a con artist telling people that its a fraud everyday while he tried bitcoin when its in a dip.

And remember, Jamie stated that his daughter has bitcoin. LOL.

[arpon11]

I expect this time around for bitcoin price to get to  $5000 before end of this week as there is a strong momentum and to those that buy during Jamie Dimon and Chinese government's FUD now is another opportunity to sell high and take profits. Some people on this forum predict death to cryptocoin during those period but we are happy now that the market has proved them wrong.

[jc89]

The only reason why bitcoin price drop so hard is because when people heard that china is banning ICO's and caused panic so a large group of traders immediately sell their bitcoins without thinking that this might be a good chance to buy more cause this is completely normal cause even other resources doens't always rise high but sometimes takes a dip. The funny part is most of these people are new investors, this jamie whoever he is nothing but a con artist telling people that its a fraud everyday while he tried bitcoin when its in a dip.

And remember, Jamie stated that his daughter has bitcoin. LOL.

Then maybe Jamie just wants to be the greatest dad ever. Never minding what people will say about him as long as he can contribute to the dip so that his daughter can purchase at a lowest price possibe. And so we shouldn't be so hard on him afterall. Lol! But seriously, we should still be thankful to him we had the opportunity to invest more during the dip just like his daughter.

[Zicadis]

It's really a great time to invest in btc as I see bitcoin is recovering well after China's exchange regulations and ico bans affected our markets negatively but with new players like Japan showing continuous support and availability of discounted bitcoins in China we should expect the markets to remain strong and alive

[50ouncebrew]

Hell ya Bitcoin surges above $4400 because the world realizes politicians and governments don't matter! This is because it can't be changed, so you should buy them while you can.

[olubams]

As at the last time I checked, price have surged above $4600 which clearly shows its going that trend without Jamie as Jamie never mattered in the crypto world but the timing his comment was made further worsen the already bad situation which I would conveniently liken to a mere coincidence. In the case of China, I don't think we can still do without them as they are still very much relevant on what happen afterwards.

[GreatOrchid]

I am so happy today! I just woke up and i saw that the price was over $4630 a few minutes ago, so i can say that all those professionals from wall street and those governments from China and Asia didn't matter for the price of bitcoin, because we are going through it and the price is going toward $5k again.. Those are very good news for all of us, i was thinking bout withdrawing some of my bitcoins tomorrow, so i will have more than 7% because of this recently pump.

[Qartersa]

I am so happy today! I just woke up and i saw that the price was over $4630 a few minutes ago, so i can say that all those professionals from wall street and those governments from China and Asia didn't matter for the price of bitcoin, because we are going through it and the price is going toward $5k again.. Those are very good news for all of us, i was thinking bout withdrawing some of my bitcoins tomorrow, so i will have more than 7% because of this recently pump.

Me too, I never believed that china would really be the one calling the shots over bitcoins and cryptocurrencies. The only fear I had was that since a country started doing a negative impact on bitcoins and other cryptocurrencies, this could lead to a wave of countries trying to follow what China has did. If so then that is when we would have a real problem, since if there would be a lot more countries doing the same as what China did, then possibly it would be a really tight spot for us to be in and we'll all be restricted to the use of bitcoins and altcoins.

[South Park]

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.

Bitcoin cannot be stopped, I think they need to understand that, at worst bitcoin can be slowed down, and I think they are trying their best to slow down adoption until they can figure out a way to destroy bitcoin, but it does not matter, they could slow down bitcoin for decades and they are not going to find a way to destroy bitcoin.