Bitcoin bounced off its $3000 support this morning in a huge rally that happened so fast there was no way i could get anything written up in time. Bitcoin currently trading around $3500, where is it going? I do see it consolidating around $3000 to $3500 for the next few days if not a week. Why the bounce when china says it is closing exchanges by the end of october you ask? I believe like i have all along china will come to terms and regulate bitcoin as much as they can but ultimately it is a free market.
No one single country can kill bitcoin or blockchain technology, any country that outlaws bitcoin is only hurting themselves. Yes bitcoin can die and go to 0, but another coin will rise and be number 1. Do i think bitcoin will go to 0, no i do not believe this.
I hope everyone still has their bitcoin because this is the end of the beginning (not the beginning fo the end), the best way to gain on bitcoin if you are not a trader is to HODL,(hold on for dear life)