Post
Topic
Board Speculation
Re: Bitcoin prognosis
by
1Referee
on 01/10/2017, 22:26:18 UTC
For the moment i think price will stabilise between $4300-4400 for a while before rising again then maybe a second huge dump will happens.
It depends. It may very well be that people are buying themselves into Bitcoin for the upcoming chain split this month. The same has basically happened in the runup to Bitcoin Cash, and that while a whole lot of people were looking at the 1st of August as being the much feared dooms day. If this is the reason the price is bouncing up, then we may indeed see an insignificant dump (10-15%) at a later point. It's always smart money that moves this market, and rightfully so.

I don't think many people will sell at the current rate.
Noobs will. They just need a push in form of an announcement from China to sell their stash like there is no tomorrow. From their perspective China is the main reason Bitcoin has value in the first place, so if something is about to happen with Bitcoin in China, then they will definitely let themselves go and sell. This is something that will likely never change, unless China 'bans' Bitcoin entirely.