Beating Buffett Series
When it’s touching $1,200 many complained that it’s too high and wasn’t able to catch the rocket in time, then hoped and prayed for a dip to get in. Well, your wish is granted.
You know who made your wishes come true? Or rather, the question should be, who is capable of making your wishes come true?
Who other than the Chinese government?!
Yes, the Shanghai branch of the Central Bank “visited” the BTCC exchange office there on 11th January to “ensure compliance”, after issuing “advices” to the major Chinese exchanges on 6th.
I had predicted a crash to the lows of $800 to the highs of $700 before the Lunar New Yea even without the interference of the powerful government intervention. With the help from them there is a possibility of seeing a three figure price that starts with 6, which is familiar almost just a month ago.
Roger Ver did say that at $700s this is the second best chance to get some bitcoins after the first which was when it was at $400s. There is no doubt that the world’s demand for it is ever increasing. However the ultimate question remains, what is the percentage of the trade on Chinese exchanges to the non-China ones?
It is currently estimated at more than 80%, hence the impact. But when it spreads out more evenly eventually it will be back to 4 figure price again.
