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RE: Bitcoin - An end to a Chinese dominated era?
Very interesting take on the mining aspect!
The impact of China on the crypto market (in trading volume) is not as big as many people may think. It could easily be evened out by increasing participation in other countries for example India, or just the increasing participation that will happen in North America or Europe as Cryptocurrencies become more and more mainstream.
But I think we will see another downtrend in the next couple of days or weeks before the market will recover to the prices we saw 2/3 weeks ago.
Watch my Video for my take on the China exchange ban and the market forecast:
NOW CONFIRMED: CHINA BANS EXCHANGES - WILL THERE BE ANOTHER CRASH?
thanks for sharing the video mate, well done. though it wouldn't call it a 'Small bounce back'. It was rather huge in my book. in any case, markets may decline further, though who knows anymore. if the weekend finishes up, we might just continue!
Thanks for your feedback! Yeah you're probably right, that it wasn't a small bounce back, but it it did not bounce back completely to match the 7 day loses, so I wouldn't call it huge either.
I think we will see some more decline in this month but I'm optimistic that we will fully recover in October.