Ok, what will happen to the btc price to upcoming month(s).

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to the moon

>>1755490
BUMP

>>1755490
it will take a hike
downhill

>>1755490
The reality of your question: predict what will happen in the world's most populated country with the world's second largest gdp and how it will effect valuation of its currency and its government policies.

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>>1755490
crash to 5$ per coin

PRAISE KEK

>>1756047
Newsflash; it turns out that the Chinese bitcoin volumes were over 90% fake.

China's importance for bitcoin is only a tiny fraction of what people thought it was just a few weeks ago.

>>1755490
bitcoin always goes in a boom, bust, small boom, bigger bust, big boom cycle. As long as more and more people use it, the value will go up in time overall though. HODL

>>1757567
Source or fake news

>>1757567
people still buy bitcoin for 1000 dollar in india
people buy bitcoin with trade fees at this price

recent downturn is because we are worried pboc will ban bitcoin. i don't htink that will happen, why else would they put in the effort to regulate exchanges.

>>1757622
First result in google: http://www.coindesk.com/chinas-big-three-bitcoin-exchanges-end-no-fee-policy/

And as for the volumes dropping by 90%, check it out for yourself.

>>1757625
The actual bitcoin volume in China hasn't actually dropped much though.
All that happened is the fake volume disappeared.

There were no trading fees, and Chinese exchange users were encouraged to increase their volumes because that way they would get a discount on their withdrawal fees.
Because of this, Chinese bitcoin traders were using bots to shuttle their own bitcoin back and forth between their own accounts. Among other things.

The big three Chinese exchanges all did this, they were having a volume dick measuring contest.

All that is gone now, what remains is the true Chinese volume. All thanks to PBoC.
And it's a very very good thing for bitcoin.

>>1757630
I agree

>The actual bitcoin volume in China hasn't actually dropped much though.
All that happened is the fake volume disappeared.
Do you think the current btc price is still based on the old inflated trade volume numbers?

>>1757649
>Do you think the current btc price is still based on the old inflated trade volume numbers?
Volume doesn't necessarily have much to do with the price.
Volume leads to volatility, higher highs and lower lows etc, but the end result remains the same as for price.

The volume was only ever meant to be a marketing tool for the Chinese exchanges.
It never changed much about the demand/supply from the Chinese traders themselves. The volume game was an afterthought for them.

>>1757649
>>1757654
Think of it this way:

Say you have a soulless Chinese devil with 1 bitcoin, and two accounts (A and B) on BTCChina.
Say he moves that same bitcoin back and forth between account A and account B a thousand times in one day.

That means there's 1,000 bitcoins worth of volume per day, but the supply/demand remains perfectly balanced, so there's zero effect on the price.

It's only when there's more demand than supply that prices increase.

>>1756051
Please let this happen. Then I can buy 1000 bitcoin

>people think bitcoin will exceed $1000 permanently
Lol

>>1757669
Look at the growth starting in September 2015.

Bitcoin was simply blasting past 1k and far beyond.

The PBoC announcements rattled people (especially since many thought the Chinese actually owned 98% of all bitcoins), but it turns out that the PBoC measures were VERY beneficial.

So once the initial shock wears off, the price should get back on track for growth since all the PBoC measures did was harm the Chinese exchanges' favorite promotional tool: muh volume, greatly benefiting the market and people's perceptions.

>trump taxes mexican remitances driving up usage x1000000 due all the mexicans using BTC to seamlessly move money across borders
>china, venezuela, argentina , india etc keep inflating and people keep moving money via btc
>kim dotcom releases mega 2.0 and normies start getting in
>2k by xmas
>10k next year
>100k in 5 years with sidechains, ln etc