less than 1 month and price back to normal mode and may be rise more
BTC is moving towards 4500 $ and hope so we are able to see it reaching 5k quickly. This has being a roller coaster ride for bitcoin during the several years and last month as well. Is it possible China has bought back huge chunk of btc at the low of 3000 and due to which this rally is rising now?
You spoke too soon here. The price goes back to $42xx-$43xx. But it still good though. I consider the price strong. I think we are going to see a roller coaster ride up to the looming Segwit2x fork. I really though so too that the market is very bullish however, minor bumps along the way is fine. I don't think that the Chinese has buy back huge amount during the crash. They are the one dumping it, so I doubt that they buy it back. Jaime Dimon and his JPMorgan on behalf of their clients bought big chunks if you are not aware of. Its already mid week so there is still a chance that at the end of this week we have breach $4500. But just like I said, if the price is above $4100 consider it a good price. As compare to the last couple of weeks where we saw the price go down to low of $2900.
The price is already bouncing back up gradually compared to what we had yesterday and like you said, the Chinese have not even started buying back yet and of the rumor of China releasing some exchanges back to work, we might see some quick growth.
However, there are so many upcoming good news and one of them that I am so much awaiting as long as he doesn't end up fumbling, is the one from Goldman Sach's CEO. That news alone will cause a mega upward trend.