October should be a very good month for bitcoin. Not only do we not have to worry about another hard fork from bitcoin gold yet but also China has announced it will be opening up two Chinese Bitcoin Exchanges when the legislation comes into effect October 1st. Both OKcoin and Huobi will be permitted to continue operation until the end of October.
This also leads one to believe that bitcoin exchanges will open under the legislation that is being passed which should bring in 10% or more money back into bitcoin from China.
Not only that but even when nearly everyone in China bailed on bitcoin the price of it rebounded to $4,200 which goes to show the world how much power and backing the crypto currency has.
To me this clearly paints a continued uptrend for the month of October.
Now November maybe another story as yet another hard fork is poised to take place.
Here is my take I wrote on it (using platform steemit): https://steemit.com/bitcoin/@greenman/all-cryptos-are-the-same-and-you-need-to-get-in-now-because-they-are-extremely-low-priced-for-the-invention-of-computational
good
While the China news kicked in and the price tanked, a lot of good news came out (property sales in different countries, Japanese company starts mining, ect.) I think we are really on a turning point where BTC goes mainstream and the current elite really begins to worry and tries to fight it.
Its going to have to overcome the scalability issue first if it wants to go mainstreem
Bitcoin has crossed its all-time high price. What do you estimate the Bitcoin price will be in 2020, and why do you think so?
I personally estimate that the price for a single bitcoin will be between $5,000 and $8,000 USD in 3 years
$20,000 to $50,000 would be my estimate for 2020
That is a very good number. I like your thinking.
I am going to peg BTC at $6K by year end.
I dont think the fork will slow it much.
Yep i going to the moon :)
Is this hard forking similar to printing fiat by powerful people in the industry?
bitcoin split in 15 nov 2017
You couldn't of said it any better.
I knew these hatred for bitcoin is going to be temporary. As more adoptions sets into the crypto-world, those banning are going to be playing catch up sooner than later. Thanks for sharing the post.
This will be LEGENDARY if we can really GPU mine BTCGOLD :) Lets go
I hope that these events take place as you have mentioned
Bitcoin is always good for investing
Great post friend
Bitcoin is unstoppable :)
I see various issues spread to create market chaos this month, but I am sure Btc prices will continue to increase and I still keep my money all in Btc, because I believe Btc price will continue to increase,...
I'm sure October is gold for Btc
Bitcoin is Coming Down again...
thank you !
I hope so!
Good insight
The thing I have noticed is that BTC ETH and LTC pretty much march in step with one another. I have LTC and I think these cryptos will be advancing significantly in the future.
Good article!
....upvoted and resteemed
It was all just a ploy to get cheap Bitcoin and other alt-coins so they could make MILLIONS while the rest of us lost thousands upon thousands each.
The Chinese investors are very smart and market manipulation is their specialty. China has always manipulated their currency and markets so why would Bitcoin be any different? If anything it's easier to manipulate because BTC markets are mainly driven by psychological factors and have very small liquidity compared to tradition commodities.
It only takes a small amount of money (relative to other types of commodities) to move Bitcoin prices dramatically. In conjunction with some bad press this is the perfect storm for a price crash. The price immediately rebounds every time, however, because the fundamentals have not changed one bit :)
The Chinese government wants its hand in everything. For this reason, I presume they are going to have state run exchanges and mining operations.
I agree with the sentiment of your post...nothing to fret about in terms of the Chinese. It was a major buying opportunity.
It appeared that the hard fork in August did little to derail BTC. While I acknowledge the possibility, it seems this fork has even less support than the last one.
BTC is the most well known crypto and, in an emerging marketplace, name recognition means a great deal. Do you think the average investor is going to research what bitcoin gold means versus bitcoin?
When their brokers offers up the choice, people will go with the one they know.
Thanks it should be, so start now!
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