Bit bubble of 2017

There is a high probability that Bitcoin will fall back below $1000 USD toward the end of the year. If there is an economic crisis it is likely money will be withdrawn from stocks and put into cash.
This will caused the USD to fly and the price of bitcoin to drop. There will not be enough capital to re-inflate the bit bubble (this year).

Anyone can start a cryptocurrency by branching an existing one, such as Litecoin. The value is meaningless.
評論: China's government has ordered their 3 major telecoms to shutdown all VPN access out of China. This will likely affect Bitcoin very negatively, since 90% of transactions and 60% of mining is from China. The run up in bitcoin (and real estate in Canada) is all the result of capital trying to escape China.
評論: Deadcat bounce before continuing lower this month
評論: China begins to close exchanges and SEC will likely start to close exchanges in the USA in the coming months.
評論: Sources:

SEC ruling >

China's attempt to control capital has been on going for a while.
2016 China Capital flight >
localbitcoins spike after China clamps down >
Zerohedge summary of China's ban on Bitcoin >
BTCChina shutdown message >
Where did you read this information?
Believe me, it goes down, but then it will rise like one. The idea of downtown is so absurd that it becomes viable. And many buyers want this opportunity. Because next year we will have more than 80% of all available bitcoin sold, so expect an absurdly unthinkable value for something of astronomical value.
"The value is meaningless" - Any form of currency has value because people believe it has value. USD for example can be created by a private company out of thin air and is backed by nothing. So it's essentially a virtual currency. And still sheeple accept it has value because of the belief system. Why do you think it's so easy to get credit? A debt driven society is easier to control. The only bubble you should worry about is the fiat bubble.

BTC is a scarce commodity for storing large value which is easy to transfer worldwide. I don't think bitcoin and other cryptos will devaluate and become worthless or worth less than fiat. Swongs by optimism and FUD keep these markets very interesting. All different cryptocurrencies have their own properties and real world application and are valued accordingly. More and more people are realizing there is a monetary revolution going on and are joining. Cryptos and decentralization are freedom from oppression. With all the upcoming blockchain solutions disrupting the traditional financial world you should realize it doesn't go away anytime soon, even if it is still an immature and volatile market it will grow. Liberate yourself. Acquire moar and HODL.
+2 回覆

Well said...
+1 回覆
Nice.. Your first public chart... what nonsense...

$1 - $3000.. Do the maths... Our economy is failing us.
Country's have turned to BTC as a safe haven... Example (Greece/Italy).. Next stop - The rest of the world...

So much positive public attention BTC IS (ill say that again IS going mainstream... Who cares if it dips to 1000 which is very unlikely with all the buy support big banks getting involved.. But if it does I will I'll buy a hell of a load more and so will 99.9% of investors and traders because at the end of the day it makes us money...

+1 回覆
@Ckeefe420, Interestingly enough he's stating the exact same thing now :D backed by some "deep" technical analysis and false fundamentals. Funny guy.
mark.obradley MarkusJanssen
@MarkusJanssen, what about fundamental analysis? China closing exchanges make it very hard to sell bitcoin...
MarkusJanssen mark.obradley
@mark.obradley, China is putting some regulations in place. That is true! But they won't shut the whole industry down, and they won't close all exchanges, neither did you provide any evidence for the SEC claims. Sure there'll be bumps along the way, but that's just part of the deal of integrating it into the mainstream.
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