Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

8,800 Incoming... I said it before, and say it again:

Indicators are meaningless when the Chinese are just printing fiat money infinitely. You have to keep in mind the Chinese have been printing unlimited amounts of fiat at a faster pace than anyone else, but try to prevent it from leaving the country on the official fiat money exchange rates. They will try to maintain a fiat exchange rate fix as long as possible, so they maintain purchasing power, but it is really just like Monopoly money to them. Bitcoin/crypto may be a way of escape.

8,800? I mean why not right?

Yeah. Continuing devaluation and rumors of capital controls.

8,850 Why not??? Just print moar fiat! No problem!

It's not really the "money printing", its the loss of purchasing power (symptom of this though; devaluation and strengthening USD), and fear of being locked in to a devaluing currency. It's part of a bigger trend. Bitcoin is just a protocol and conduit.

Limitless Unrestrained money printing via fractional reserve banking = Loss of purchasing power. Even with the fixed exchanged rate of CNY/USD. The thing is it is a fixed exchange rate = fake exchange rate; if all restrictions were lifted and we had a free market exchange rate what you would see is exactly what your are seing in CNY/BTC.