Hi,
Do you think the price will DROP MORE?
Today every big news website talking about the CHINA BAN.
- wall street journal and many others
What do tou think?
I think bitcoin price wouldnt drop more because the news is over and some maybe are trying to reload their stash now. Bitcoin is sitting tightly at 3900$+ and I think the price it has now is quite good and indicates that there will be another bullish run soon. It might also indicate that another bearish crash will happen but for now it is most unlikely to happen because the FUD is now over but still I wouldn't exclude it's possibility, we can't now if there will be another bad news.
I am seeing bitcoin will continue to rise and I dont think it wouldnt drop more. Though fluctuations in the market is hard to speculate. But Im always checking its value if downtrend will happen.
i also do not think that bitcoin price will drop any more but will now start increasing, as bitcoin has a good potential and i think that the correction period and the bad news about bitcoin are now over in market therefore hopefully bitcoin price will start increasing now.
After bad news, it will comeback and create new AHT price. Hmm, sounds very easy but do you think in someday that happen will do the opposite? Nothing is forever and the scenario on the market also affected by that.
What kind of bad news are you talking about? China's ban?
That was an old news and the price is being pushed down because all those Chinese whales are shifting their money from China to other countries as they don't want to stop themselves using Bitcoins. As well as once all this gets settled from their end, we will be seeing the best rebound of history. Japan's Internet Giant GMO plunged into Bitcoins with their decision to start mining it, do you think Bitcoin is an old school nowadays? It has gone BIG and now nothing can stop it. People say that it's nothing but a war between negative and positive speculation and I believe that's true, the more you believe & hodl, the more you will gain.
One question here, when these whales are shifting their money form China to other part of the world, do they have to sell their Bitcoins? I think no. it is easier to move Bitcoin out of the country than moving fiat currency.
Anyway I think the price will drop even further. Remember there are exchanges that will close on the end of the month and the following month. This will definitely means, many chinese trader will sell their Bitcoin and convert them into fiat. Aside from that the consecutive news about Bitcoin exchanges shutting down in china have a psychological effect to the readers. Those who are thinking to invest in Bitcoin will have fear the same thing may happen to their country. Thoiugh I am a incline to think that Bitcoin will further decline in price, I am still positive that Bitcoin will recover.