Buy This Bitcoin Dip

I'm very bullish on the bitcoin price and I have a couple good reasons to buy Bitcoin now rather than later.

The news that came out from China about how the PBOC is banning Bitcoin exchanges was fake news from an unreliable source. This may have been a misunderstanding from the source but the PBOC did not ban Bitcoin Exchanges from operating. The ban was for ICO's not Bitcoin. The market panicked for nothing and some whale dumped 20k BTC. Once this corrected news sinks into the market it will be business as usual.

No contentious hardfork in November. The NYA (New York agreement) over increasing the block size to 2mb or more after the Segwit activation in August would have been yet another civil war within the Bitcoin community. History has shown that uncertainty is not good for the price of Bitcoin. Today during the Breaking Bitcoin conference there was an important discovery that many of the companies that agreed to the NYA are now backing out. Come to find out the companies only agreed to the 2x hardfork because at the time there seemed to have been no solution on the scaling debate. Well Segwit activated and we don't need the 2x hardfork. Plus Bitcoin Core development team has released 0.15 software update that will not recognize the 2x nodes.

In conclusion much of the negative news is disappearing and in my opinion the market will react positively in the next couple weeks.