Bitcoin's only major use has been for Chinese to move their money. Now that that's being hamstrung their value will never again reach the levels we saw. I expect the $300 range will be more likely the new ceiling, as this currency is only actually used (eg: exchanged for stuff as a fiat should be) for the following purposes:
Chinese money laundering (not in the illicit sense)
Drugs
Guns
The Chinese factor was the biggest driver, and now that it's be cracked down on, I don't expect we'll see a recovery to previous levels ever again.
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