There is change, but in the form of an slow downtrend. The slow downtrend is caused by traders, who are desperate for another rise, so they pump the price with their empty dreams and denial. This is the cause for this inefficient market, that is unattractive for buying or trading. An efficient market would let the price drop to an solid level quickly, and then wait there until there is a strong recovery. An efficient market would decide their stance on China quickly, and wouldn't jump on and off everytime there are new news about the bureaucracy catching up to the weak attempts to keep the bitcoin business going in China. It would be more stable and predictable then, and that would make the market a lot more attractive for buying and trading.
But well, the bitcoin market isn't actually full of people who know what they're doing... So, we better just have to deal with this...
^^This.
There is no market. Just traders playing pass the parcel, probably not even actually passing the parcel half the time, but simply switching it from the left hand to the right. All involved in Bitcoin are waiting on the next X-Factor to come into Bitcoin and give it it's next turbo boost, whether they realise it or not. This X-Factor is going to have to be another form of capital flight, where sufficient amounts of wealth piles into Bitcoin insensitive to the price. Until that comes along, then it is more pumping, dumping, but overall grinding down. Bottom catchers can forget their tech analysis as this will be a geo-political fundamental that the charts will not be able to predict, and yeah, sooner or later I believe it will happen but until it does, the floor is the limit for Bitcoin.
Bitcoin has its practical uses and even advantages over fiat and digital banking, but they are at this point in time very few and generally come with both higher premiums (getting fiat in and out of Bitcoin) than conventional transactions with greater time obstacles. If I wanted to buy drugs or other black market goods n services, I would use Bitcoin. If I wanted to hide and/or take wealth beyond borders circumnavigating the fiscal controls of a specific nation, then that too is where Bitcoin comes into it's own.
So my fellow Bitcoiner 2 da moon chums, get on your knees and pray for some economic melt down in some diddy Latin American country or something and for the stricken nation's moderately wealthy and indeed very wealthy to turn to Bitcoin in panicked droves in order to give us 4 digit Bitcoin once again and then some!!! When the great day comes, we shall all meet in the grand old castle Malla, and feast on the blood of the dispossessed poor of the economies from which the capital has flown......
