While Bitcoin remains highly speculative – I do not view it as a currency (link) and as per my 3 Rules of Bitcoin (link) I am cautious on it, but from a pure trading standpoint, I think it can rally from here in the near term. BloombergBack on September 15th it appeared to me as though not only China, but a number of public figures were trying to crack down on Bitcoin (link). The proponents, dare I say, ‘evangelists’ of bitcoin argue that this is exactly why investors should care about bitcoin. I think the fact that is passed this recent test will usher in a new wave of bitcoin enthusiasts. I think the jury is still out on the long term viability of Bitcoin – but from a pure trading standpoint – I’d expect some more demand to develop.

Source: Forbes September 30, 2017 21:56 UTC