Bitcoin Above 1000USD... but not in China!
PBoC stopped withdrawals of Bitcoin and Litecoin from top Chinese exchanges for at least 30 days.
Volume on LocalBitcoin exploded (its a hand to hand trading platform for cash + other ways but without exchanges in the middle)
The candle today is ATH ever on this market, meaning exchanges are loosing money but trades are still happening.
But there is other interesting and worth noting thing.
For the first time, China has no premium price above others on BTC!
Currently Bitcoin in China is the cheapest in the world!
So if without main player we are above 1000USD imagine what happens when the player gets back to the field?
Possible scenarios
So China should be unblocked in March, ETF decision for Winklevoss is in March too (see my previous posts) if this both things end positive then faster your seatbelts we can go as high has 3000 USD.
On the other hand if both go wrong, we can see 550 again.
More to gain then to loose, I have had many people asking me about what to do with the bitcoins they own ( I have converted many a fiat lover into cryptocurious and worse ) And Im telling them this : 1/3 chance of ETF aproval which would in my opinion more than tripe the price, 2/3 chance of postponement or rejection which will likely bring bitcoin back to 400-500 territory. I dont know if this makes sense in my opinion but if you already own bitcoin its mathematically wise to sell right now or trade maybe into a cheap altcoin short-term. If you on the other hand dont own any bitcoin then maybe its a good time to buy considering the risk factor.
Great post enjoyed reading it! @kingscrown
Very good observations!
That's what I did.
I bought some bitcoin with my Steem, then sold it for more Steem.
Heck yes, profit.
But then I saw Ethereum's sudden rise.
So I bought some Ether. So far, it's going up and up, so I'm very pleased, especially when I look at those delicious curves. I think it's about to have a "spike".
Probably not on the level of a "bubble", but it might rise a good 20% over the next month or so.
I wouldn't be surprised at all if it rose more though, seeing as the platform itself seems very interesting.
ETH is one of highest volumes so yes it has to pump from time to time :)
Huh?
I just realized I'm a total trading noob, and I have no idea what any of that means.
I just look at the little prices on the chart, and if they're going up slowly and steadily, I think "I should buy" and if they're going up really fast, I think "I should sell".
Beyond that, I've got no idea. ^,^
as long as you are in profit thats all good ;)
erghhh, yeah, that's one of those things that's always troublesome.
I was doing fine until Steem crashed.
I got ruined completely...
I'd be happy either way, if it drops again then I can buy more. XD
Bitcoin will have downward pressure as the larger data centers start dumping more bitcoin - they need to pay their bills somehow.
Indeed both visions look good ;)
There were some stats shown before that actual cash transactions are about 1-2% of LocalBitcoin trading volume. Vast majority is stuff like wire transfers, Western Union, money orders etc.
Yeah theres even paypal i just dont want to over-complicate the posts for people who hear 1st time of the stuff im posting. But yes you are right theres other options than cash! Ive edited it a little!