Bitcoin to $700 on China rumor? This is why you buy & hold! Tuur Demeester, Tone Vays, Vinny Lingham
Bitcoin "drops" to $700. Back when it was $400 at the start of the year we all would have loved it to be at $700. I think the lesson in all this is to buy and hold and you will be in great shape. I am not the only one saying this. You should be familiar with the writings/social media feeds of Tuur Demeester, Tone Vays, and Vinny Lingham if you want to understand some important aspects of Bitcoin and if you want to be immune to FUD. If China really fears Bitcoin like the rumor implies then this is a very bullish sign.
Hi Adam,
Bitcoin can't be stopped. But don't you think that if a government declare bitcoin to be an illegal form of payment, that it will slow down the adoption? They don't need to be able to prevent the usage. Just by calling it illegal is enough to slow down the adoption.
Well those using it for dark market and gray market activity won't care much. If people really need to get their value out of a country they won't care if Bitcoin is illegal. They will find a way. It could slow down mainstream adoption. I am not too worried. I am a long term guy. Think about Bitcoin 2020 not in 2016.