Topic: Bitcoin Dumps to $32K as China’s Bank Announced a Ban on Crypto Usage - page 3. (Read 456 times)
June 21, 2021, 06:44:02 AM
Okay then this is my time to buy more bitcoin. Actually I planned to buy bitcoin at 20k price level. Maybe it's a bad news for many people but it is a good news for me as contrarian investor. I believe that if Bitcoin price go down then it will go up again and vice versa. I will accumulating more Bitcoin and Trx, I think Trx has big probability to increase 2000% in the next bull run. But it is just my expectations. I think this banning is not forever.
June 21, 2021, 06:38:13 AM
I don't know the mentality of those idiots who dump their coins when some negative news from China appears in the media. Are they so dumb to sell their coins in panic?
we cannot blame them since China always makes an impact when there's such news across the internet and it really forcing a bunch of hodler to sell off immediately even before. The sad fact here is they still lack of confidence to keep hodl and still don't understand how this things works after such scenario wherein mostly just always regret and become upset at the end when there's a good improvement afterwards.. June 21, 2021, 06:37:15 AM
This the best a China dump news part three can do? I'm so disappointed in the bears or shorters, or whatever they want to call themselves these days. If a 1-billion strong country bans Bitcoin on the back of influencers falling out of love with crypto, and best the market can do is test $30k, then I think we've got nothing to worry about.
Meanwhile, Chinese influencers be shilling the heck out of "Defi"
Meanwhile, Chinese influencers be shilling the heck out of "Defi"
Hell yeah, This is the reason why Bitcoin growth always been halt whenever the momentum is already build up. FUD always start to China then follow by Korea and Japan by releasing a repeated news like government banning Bitcoin or whatsoever. I don't know what's wrong to Bitcoin investors but this kind of news was already recycled many times before though.
June 21, 2021, 06:28:50 AM
The only thing that disturbs me is how the Chinese miners are gonna get paid,when they sell their BTC?
Do they have bank accounts in banks located outside of China.
What if a crypto miner located in China sells some BTC and receives money in a Chinese bank account?
The bank finds out that the money in that account are obtained via crypto trading,so the bank decides to block that bank account with all the money inside.What happens next?
Anyway,I think that the crypto community and the crypto markets will be safer in the long term,if more miners decide to run away from China and move to other countries.
Do they have bank accounts in banks located outside of China.
What if a crypto miner located in China sells some BTC and receives money in a Chinese bank account?
The bank finds out that the money in that account are obtained via crypto trading,so the bank decides to block that bank account with all the money inside.What happens next?
Anyway,I think that the crypto community and the crypto markets will be safer in the long term,if more miners decide to run away from China and move to other countries.
June 21, 2021, 05:55:11 AM
Similar to the previous episodes of FUD from China, the impact of this news will be gone in one or two weeks. All we need to do is to wait. It actually surprises me that China still holds so much influence on the cryptocurrency exchange rates. They have crashed the cryptocurrency prices at least two dozen times and the traders still haven't learnt the lesson. I don't know the mentality of those idiots who dump their coins when some negative news from China appears in the media. Are they so dumb to sell their coins in panic?
June 21, 2021, 05:55:03 AM
This the best a China dump news part three can do? I'm so disappointed in the bears or shorters, or whatever they want to call themselves these days. If a 1-billion strong country bans Bitcoin on the back of influencers falling out of love with crypto, and best the market can do is test $30k, then I think we've got nothing to worry about.
Meanwhile, Chinese influencers be shilling the heck out of "Defi"
Meanwhile, Chinese influencers be shilling the heck out of "Defi"
June 21, 2021, 05:34:23 AM
so Elon Musk and China are changing issues to make crypto market shaking and dumps like this.
till How long will people finally understand that even without china keeping Bitcoin/crypto yet there are many countries starting to adopt crypto now.
and with this we will progress and increase in value together.
till How long will people finally understand that even without china keeping Bitcoin/crypto yet there are many countries starting to adopt crypto now.
and with this we will progress and increase in value together.
June 21, 2021, 05:17:05 AM
With the release of more negative news from China, the price of Bitcoin fell to its price level of two weeks at $ 32,000. This time, it is reported that one of the largest state-owned banks in China has banned its customers from dealing with any crypto assets.
The Agricultural Bank of China said in a statement on June 21 that its customers were barred from doing any business with cryptocurrencies.
It is worth noting that the Agricultural Bank of China is generally one of the largest banks in the world.
Customer accounts will be blocked immediately if any interaction with Bitcoin and other crypto assets is discovered.
The bank also intends to report all suspicious transactions to the relevant authorities "in a timely manner".
Thus, the world's most populous country continues to deal with digital currencies.
As previously reported, the country officially banned BTC at its borders nearly a decade ago, but it always likes to reiterate its position on a regular basis.
The crypto currency community believes that China is more focused on dealing with digital currencies this time around because of the launch of the digital yuan, which will be quite different from the decentralized nature of bitcoin. It is worth noting that the Agricultural Bank of China is actually working on the national digital currency and has conducted several experiments to launch it.
However, today's statement from the giant bank immediately affected the cryptocurrency market.
Within hours, Bitcoin fell more than $ 2,000 to a two-week low of $ 32,300. In the 24-hour timeframe, the price of Bitcoin dropped by approximately $ 4,000. With the significant double-digit price declines of Ramzars, the situation of Altcoins has worsened.
It should also be noted that, according to a Twitter user, the bank apparently deleted the warning shortly after it was issued.
The Agricultural Bank of China will issue a statement stating that the accounts of any customer dealing with cryptocurrencies will be closed.
Fifteen minutes later, they appear to have deleted the statement
Source: https://cryptopotato.com/bitcoin-dumps-to-32k-as-chinas-third-largest-bank-announced-a-ban-on-crypto-usage/
The Agricultural Bank of China said in a statement on June 21 that its customers were barred from doing any business with cryptocurrencies.
It is worth noting that the Agricultural Bank of China is generally one of the largest banks in the world.
Customer accounts will be blocked immediately if any interaction with Bitcoin and other crypto assets is discovered.
The bank also intends to report all suspicious transactions to the relevant authorities "in a timely manner".
Thus, the world's most populous country continues to deal with digital currencies.
As previously reported, the country officially banned BTC at its borders nearly a decade ago, but it always likes to reiterate its position on a regular basis.
The crypto currency community believes that China is more focused on dealing with digital currencies this time around because of the launch of the digital yuan, which will be quite different from the decentralized nature of bitcoin. It is worth noting that the Agricultural Bank of China is actually working on the national digital currency and has conducted several experiments to launch it.
However, today's statement from the giant bank immediately affected the cryptocurrency market.
Within hours, Bitcoin fell more than $ 2,000 to a two-week low of $ 32,300. In the 24-hour timeframe, the price of Bitcoin dropped by approximately $ 4,000. With the significant double-digit price declines of Ramzars, the situation of Altcoins has worsened.
It should also be noted that, according to a Twitter user, the bank apparently deleted the warning shortly after it was issued.
The Agricultural Bank of China will issue a statement stating that the accounts of any customer dealing with cryptocurrencies will be closed.
Fifteen minutes later, they appear to have deleted the statement
Source: https://cryptopotato.com/bitcoin-dumps-to-32k-as-chinas-third-largest-bank-announced-a-ban-on-crypto-usage/
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