Bitcoin Hurdles $1000 Once Again! Can We Keep This Up Without Chinese Trading Volume?
Bitcoin Trading Volume is at Record Lows in China, Yet We are Once Again Over $1,000.
This is the first time in the history of Bitcoin that China is not showing up to the party. Is this an ominous sign for the future of the Bitcoin price or is this exactly what Bitcoin needed? Ira Miller let his opinion be known today in a Tweet.
Ira Miller of GitGuild Tweeted This Chart. See it on Twitter.
What is Bitcoin Without China?
We have grown so accustomed to China leading the Bitcoin charge. Do you think that the time has arrived that Bitcoin can hold its own without the Chinese trading volume? We know that the PBOC has imposed fees on trading in China which has greatly curbed the speculation. The three biggest global bitcoin exchanges, BTCC, OKCoin and Huobi, have stopped margin trading. Will the Chinese just find another way to fulfill their Bitcoin trading needs?
I for one believe this prohibition of Bitcoin margin trading in China will not last. Last March China loosened the grip on margin trading in their country. They will probably loosen the reigns again soon with some controls. What do you think?
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BULLISH BITCOIN. Great blog as always. Upvoted and shared on twitter. Stephen
https://twitter.com/StephenPKendal/status/827446585642668032
Thank you again Stephen!
You are very welcome. Have a fantastic weekend. Stephen
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Yes we can!
Gran información muchas gracias querido amigo @hilarski
I'm thinking we might need to "stabilize" within the 600-800 range again, but if we go into a tulip mania then we could obviously ride much higher on more or less a lack of resistance. (Then we should probably be looking at the 1300+ areas)
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This is part of our conversation about this article on Twitter.
Follow me on Twitter too! I found your post there ^_^ - @TechniumUnltd :]
Done, if you need something RT'ed let me know.