As of today, there are reports from multiple news media that talks about bitcoins indicated the Chinese market had pushed Bitcoin and Ethereum price up. Chinese market people as investors are moving away from the traditional market of stocks and other investments funds to cryptos currencies thus pushing the price up super high, in fact 300% increased already within the year 2017, although prediction was made $2000 for Bitcoin price by the end of 2017.
As it already happened in the past, Chinese pump the coin up and then sell it at a later time, could be today, tomorrow or a few days from now, for sure it’s a short term pump. Once Chinese investors start taking profit, people will realized its another bubble bursting.
There isn’t any news that I can find would indicate Bitcoin going mainstream widely use, so it’s just simply a pump, as many say a whale buy or “it’s a whale” basically someone or some people with lots of money to buy and it will take time before they can buy it all, and most will save their bitcoin, some will sell it. Mostly Chinese they’re the biggest investors in Cryptocoins and also biggest mining facilities are in China.
Another possibilities could burst Bitcoin bubble at the moment is Government around the world especially in the USA will put some kind of control on Bitcoin such as lately Coinbase being forced to release all of its users account details including personal information and transactions of Bitcoins Litecoin and Ethereum. This action will impact Bitcoin price greatly if it goes through.
I have some Bitcoin, and I have sold some, kept some. Same with ETH ethereum. I mined a few in the past and had kept them til this day will continue to hold them but again I sold some since crypto currencies price are un-predicatable.
