The price is bitcoin is proportional to the "hot money" flowing out of China. Doesn't matter if that's an illicit market, it's still the most significant factor.
Whether or not one believes that hot money is going to stop/slow should strongly influence your estimate of the price of bitcoin.
That said, it's top heavy at $900-$1100, and reasonable people should be selling a portion of their holdings.
The price is bitcoin is proportional to the "hot money" flowing out of China. Doesn't matter if that's an illicit market, it's still the most significant factor.
Whether or not one believes that hot money is going to stop/slow should strongly influence your estimate of the price of bitcoin.
That said, it's top heavy at $900-$1100, and reasonable people should be selling a portion of their holdings.