Here is where bitcoin's price is headed by Dr. Chris Kacher

Bitcoin's price has rebounded as the amount of influence China exerts on bitcoin and cryptospace has diminished greatly this year as Japan and the U.S. become the dominant players:

Further, according to a recent Blockchain podcast with the CEOs of NEO and Quantum, Chinese ICOs and bitcoin trading may move overseas. But both men underscored the point that China is embracing blockchain technology. Both men revealed some staunch beliefs about where the Chinese government stands on the cryptospace:

• Both firmly believe the Chinese government will not grant licenses to exchanges to trade bitcoin or other cryptocurrencies. Therefore, both said trading will be p2p but that Chinese citizens are fearful that buying and selling bitcoin will be much more difficult in the future. Sites such as the old localbitcoins may become more prevalent in China. That said, Chinese citizens may simply trade cryptocurrencies on exchanges outside of China.

• Both firmly believe the Chinese government will not allow ICOs now or in the future. That said, cryptocompanies in China are allowed to raise private capital with up to 200 private investors. Both said some cryptocompanies will migrate away from China where there are fewer regulations.

• The CEO of NEO, Da Hongfei, said global regulation is inevitable so the trend for the next few years is to be compliant. "At NEO, we are drafting a global legal framework for smart contracts running on the NEO blockchain, so if a company wants to do an ICO token raising, they can do it legally in most major countries," said Da Hongfei.

Da Hongfei also said it is possible the Chinese government, given their huge support for blockchain technologies, will utilize NEO's blockchain once regulations are fully in place.

So China's view on cryptotechnologies is to help them thrive, but in a regulated manner.

Bitcoin's recent base building seems to underscore this sentiment:

Notice the big green volume spike in mid-September. The equivalent also occurred in mid-July when bitcoin found its bottom.

Credits: https://www.tradingview.com/chart/p8vhxXsi/

(͡:B ͜ʖ ͡:B)

About Dr. Chris Kacher

Dr. Chris Kacher has appeared on major television, radio, and print programs and is the bestselling author of "How We Made 18,000% in the Stock Market". He founded Creative Trading Ltd, a company aimed at helping others invest in cryptocurrencies. He is currently launching a pro bono cryptocurrency platform and has been an investor in various cryptocurrencies starting in 2013 including STEEMIT when it was founded in 2016. He is the co-founder of http://www.virtueofselfishinvesting.com and has co-authored several books in investments as well as over 100 scientific journal articles in the nuclear sciences. He helped to discover element 110 on the Periodic Table of Elements as well as confirm the discovery of element 106 which his team named Seaborgium after his UC Berkeley Ph.D. thesis advisor Professor Glenn Seaborg. His music has also charted on the iTunes music charts twice.
http://en.wikipedia.org/wiki/Chris_Kacher