The monthly trading average for Bitcoin in September, 2017 has been around $4000 USD. This is slightly lower than the all-time high monthly average found in August, which was around $4400 USD. Some of the reasons for the decline have been due to the market pushers and political pushers moving to secure more Bitcoin at more affordable prices. The reality of the situation is that a global currency can never be controlled because it will always attract investors who are looking to make a profit. This model has been around since the concept of economics began, and will continue to be one of the central tenets driving the development of socio-economic progress around the world.
To think Bitcoin is just a fad is entirely naieve, and to think that because one country has a sanction, or another country posits some limitations, will make it disappear, is entirely wrong. Why? We have already seen the world change to adapt to Bitcoin and digital currencies in a revulationary way that hasn’t been witnessed since the development of the cellular phone. Years ago, there were no cell phones, and now there are world-wide. The logical transition to move to a digital economy is a no-brainer, and people will migrate to where Bitcoin is accepted, regardless of their nationality or loyalty. Why? Because Bitcoin offers a chance a freedom.
Remember the economic crisis in Greece, and Brexit, and almost every other economic crisis? These crises are hardly ever in favour of the people, and most often, are because of choices made by corrupt government working with commercial interests. The bottom line in this day and age, is that warfare has gone beyond the traditional methods, and moved in news landscapes, including economic ones. The reality behind China’s move may just be a ploy to downplay the importance of digital currencies, or as a means to stake their investments in current coins such as DOGE, or others, while reserving the playing field for future years.
The American perspective is so fuddled at the moment, that there is really no legislation that can hold any water because regulators are trapped between regulating something that doesn’t exist, and something that exists within a technical sphere or value, and can measured in ways that go outside the realm of traditional funding models. For example, everyone knows electricity is valuable because we use it for lights, power, heat, air conditioning, but no-one exchanges electricty for money because it is hard to store, and hard to transport.
However, have you ever been in an airport? Many times, you will find the people flocking to the electrical outlets to get the much needed energy, and the reality is that people need Bitcoins and Altcoins just like they need electricity, and there is no way these coins will ever disappear.