Quote from: deisik on March 21, 2017, 07:39:15 PM

Quote from: Snorek on March 21, 2017, 06:47:00 PM

Quote from: roadbits on March 21, 2017, 05:56:51 PM

I don't think that the bitcoin prices are affected by only Chinese. I agree that China is the biggest exchange area of bitcoins but because of that we can not guess like this. Now the Bitcoin users increased lot in all countries this is also one of the reasons for the price increase and decrease. And the digital currency will not stable like traditional currency.

Chinese market used to be shaping force for the bitcoin's price in the past. But since PBoC intervention early this year this situation changed.
We have reached ATH during Chinese exchanges blockade when withdrawal of BTC/LTC were suspended. In the past this would cause major price drop, but not anymore.

The higher the adoption, the higher the market cap, the lower the fluctuation of price and stability

I'm curious how long people will repeat this nonsense

It should ve pretty evident to anyone having an eye (or pair of eyes) that it will never be the case (if you actually mean higher stability with a higher market cap, of course). Conversely, with Bitcoin price rising we are set to witness even higher price volatility. This had been discussed many times before when the price was still well below the 1,000 dollar mark, and it was not yet quite clear whether this theory is going to be proved right in practice. And the recent price volatility (whatever may be causing it) proves exactly that. Within three months of this year we've seen the price reach over 1,100 dollars per coin, then flash crash to 750 dollars, rise again to ATH of 1,300 dollars and plummet once again to 950 dollars. And now we are rising one more time

This only applies up to a certain point though. Once Bitcoin has found its common place, the price will fluctuate less - that will come when its usage is nearly stable in the merchants which are relevant to accepting it.

Alesis

Posts

Merits