So if China doesn't matter to BTC, what is causing the price to stay down?

[RomertL]

Where do you get this from? You're the ONLY person I've ever heard to say this!

I am pretty sure, that there were People who said the same, when BTC reached 200 USD for the first time last year or any other significant marks since the beginning of Bitcoins.
According to your Forum-Profil, you are not Long enough in the game to know the rules(if there are any).

Just ask yourselves how much of the current Bitcoin price is due to its utility (i.e. its use as currency for buying goods and services) and how much is due to the speculative bubble (i.e. people buying and holding coins only because they are sure price will rise). Think about this and you will get the answer.
Could bitcoin price rise still more in the next few months? Sure, but the more it will rise, the harder it will crash once the bubble will burst.

The last bubble has already burst, the price were a bit over 1000 a couple of month ago. You didn't notice? We're at the new bottom now, starting to rise. We're nowhere near the full potential of Bitcoin. Look for a few more bubbles the next couple of years. , each peak and floor higher than the previous one.

[jc01480]

Chinese influence has to BTC, you must always look Chinese face.

The hell, you say!  I thought that was more along the lines of a Mexican standoff?

[Beliathon]

[disclaimer201]

Didn't you read the memo?! Bitcoin is virtual gold. It will be used as a currency as much as gold is used today, so barely at all. BTC will be a reserve currency and used only to hold or transfer large amounts of wealth, far beyond what everyday users will own or even need for shopping.

My guess is one or multiple of the alts with billions of coins will actually be used as a currency and derive their value out of the currency function, but it may take a couple of years for everyone to get used to the idea that virtual goods are equal to material goods.

[tianrui81317]

I think Now USA really matters.

[desired_username]

In the U.S. and Europe we really don't need BTC because our governments aren't exactly confiscating our wealth on a massive scale, or really even almost any small scale(some peoples opinion might be that they are, but nice opinion bro).

This is the biggest obstacle front of bitcoin, lunacy of the sheeple.

[blatchcorn]

You really like that graph don't you?

[Ibistru]

That chart, as the entire realm of technical analysis, is bullshit. To be more precise: it could be useful to predict future prices if and only if you were the only man knowing it.

For a detailed explanation, I am offering an introduction course to economics and finance at the special price of 0.2 BTC:

 

[t3xasdolly]

Didn't you read the memo?! Bitcoin is virtual gold. It will be used as a currency as much as gold is used today, so barely at all. BTC will be a reserve currency and used only to hold or transfer large amounts of wealth, far beyond what everyday users will own or even need for shopping.

My guess is one or multiple of the alts with billions of coins will actually be used as a currency and derive their value out of the currency function, but it may take a couple of years for everyone to get used to the idea that virtual goods are equal to material goods.

Doesnt make sence. First, it does not matter if coin has million or billions of coins, you just move the decimal elsewhere. Second, if you cant use Bitcoin as a currency because of max transactions per second limitation, you cant use any other decentralized cryptocurrency as a currency neither.