Quote from: talkbitcoin on December 07, 2016, 09:08:50 AM

Quote from: yayayo on December 07, 2016, 01:21:24 AM

Quote from: Shiroslullaby on December 04, 2016, 07:45:11 PM

Honestly, I'm very surprised we are seeing a rise in price right now.
Usually everyone in the West is spending their money on christmas presents, travel plans like vacations or going home for the holidays.
So price is more than likely being driven by Asia- India, China, etc.

If we get some good news on Segwit, the confirmation backlog being eliminated, or some new service starts accepting BTC payments,
hitting the $800 to $900 range by the mid of next year seems easily achievable.

I'm not surprised, because even if some Bitcoiners do Christmas shopping, the effect is minuscule compared to the overall market activity. Maybe, Bitcoiners are even buying Bitcoin as a Christmas present for their loved ones. Wink

The overall demand for Bitcoin compensates all spending activity there is. There are - by an order of magnitude - more people outside Bitcoin, wanting in than people already invested. I think the recent actions in India will increase demand for Bitcoin in the medium term. Even if only 1% of the Indian people discover Bitcoin as a solution to their cash problem, Bitcoin fiat valuation will soar.

If i had to guess, I would say we see the start of another epic bubble by end of the first quarter 2017.

ya.ya.yo!

i doubt that because during times like this people need cash to purchase stuff for their new year and they mostly cash out and countries like US which have the Christmas have one of the biggest number of investors in bitcoin and many of them may want some money and cash out.

although this may not even lead to any visible price change only because there is a big buy support which is increasing these days not because of lack of sell pressure.

We can assume that for now global trading already spread more widely in this year, more people trust and buy bitcoin for whatever their purposes, so the price got increased. I prefer to agree with people need sell and convert to fiat to buy stuffs due to christmas and new year but the price looks like doesn't affected instead continue to climb. One thing for sure is the demands of bitcoin pumped right now.