Bit bubble of 2017 for BITSTAMP:BTCUSD by mark.obradley

There is a high probability that Bitcoin will fall back below $1000 USD toward the end of the year. If there is an economic crisis it is likely money will be withdrawn from stocks and put into cash.
This will caused the USD to fly and the price of bitcoin to drop. There will not be enough capital to re-inflate the bit bubble (this year).

Anyone can start a cryptocurrency by branching an existing one, such as Litecoin. The value is meaningless.

Comment:

China's government has ordered their 3 major telecoms to shutdown all VPN access out of China. This will likely affect Bitcoin very negatively, since 90% of transactions and 60% of mining is from China. The run up in bitcoin (and real estate in Canada) is all the result of capital trying to escape China.

Comment:

Deadcat bounce before continuing lower this month

Comment:

China begins to close exchanges and SEC will likely start to close exchanges in the USA in the coming months.

Comment:

Sources:

SEC ruling >

China's attempt to control capital has been on going for a while.
2016 China Capital flight >
localbitcoins spike after China clamps down >
Zerohedge summary of China's ban on Bitcoin >
BTCChina shutdown message >

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