Topic: China vowed to "slash" crypto exchanges, bitcoin prices plummeted. - page 4. (Read 609 times)
November 23, 2019, 08:57:43 AM
While I don't think China is been the reason in everything in crypto, they keep bugging and creating news whenever there is hype or dump. How long will they get themselves into crypto when in fact they just don't want to really engaged. Once they fully accept crypto I will just laugh on how mess they think crypto is.
November 23, 2019, 08:54:11 AM
In a recent statement, the People's Bank of China (PBoC) said that illegal crypto exchanges in China would not have a living land.
Specifically, the PBoC warned that it would take specific action against illegal crypto exchanges in the country and review all transactions involving cryptocurrencies and bitcoin.
PBoC is committed to handling and controlling cryptocurrency trading activities in China. Indicate that individuals and organizations who have illegal cryptocurrency trading activities will be handled according to the law.
The move by the PBoC is thought to be in response to the wave of strong investment in cryptocurrencies in the past few days in China, since Chinese President Xi Jinping voiced support for Blockchain making the delivery operations Cryptocurrency outbreak in China is booming.
In addition, to avoid misunderstandings as well as to restrain the increase of cryptocurrency activity The Chinese government recently had to reassert "Blockchain, not cryptocurrency".
Perhaps this is the explanation for the sharp decline in Bitcoin prices in recent days.
Do people have any comments on this?
The irony of china, don't they own the majority of Bitcoin through their collective effort in mining? I guess the plans for China to start issuing it's on state backed cryptocurrency just might have fallen through. What about cryptocurrency exchanges such as Binance, will it be affected by the crackdown. I thought it was because all of those pesky ICO's that kept cropping up but now China is talking about seeking action against on-shore and off-shore based exchanges or institutions that utilize crypto fin exchange & trade. Specifically, the PBoC warned that it would take specific action against illegal crypto exchanges in the country and review all transactions involving cryptocurrencies and bitcoin.
PBoC is committed to handling and controlling cryptocurrency trading activities in China. Indicate that individuals and organizations who have illegal cryptocurrency trading activities will be handled according to the law.
The move by the PBoC is thought to be in response to the wave of strong investment in cryptocurrencies in the past few days in China, since Chinese President Xi Jinping voiced support for Blockchain making the delivery operations Cryptocurrency outbreak in China is booming.
In addition, to avoid misunderstandings as well as to restrain the increase of cryptocurrency activity The Chinese government recently had to reassert "Blockchain, not cryptocurrency".
Perhaps this is the explanation for the sharp decline in Bitcoin prices in recent days.
Do people have any comments on this?
November 23, 2019, 08:49:39 AM
In a recent statement, the People's Bank of China (PBoC) said that illegal crypto exchanges in China would not have a living land.
Specifically, the PBoC warned that it would take specific action against illegal crypto exchanges in the country and review all transactions involving cryptocurrencies and bitcoin.
PBoC is committed to handling and controlling cryptocurrency trading activities in China. Indicate that individuals and organizations who have illegal cryptocurrency trading activities will be handled according to the law.
The move by the PBoC is thought to be in response to the wave of strong investment in cryptocurrencies in the past few days in China, since Chinese President Xi Jinping voiced support for Blockchain making the delivery operations Cryptocurrency outbreak in China is booming.
In addition, to avoid misunderstandings as well as to restrain the increase of cryptocurrency activity The Chinese government recently had to reassert "Blockchain, not cryptocurrency".
Perhaps this is the explanation for the sharp decline in Bitcoin prices in recent days.
Do people have any comments on this?
Specifically, the PBoC warned that it would take specific action against illegal crypto exchanges in the country and review all transactions involving cryptocurrencies and bitcoin.
PBoC is committed to handling and controlling cryptocurrency trading activities in China. Indicate that individuals and organizations who have illegal cryptocurrency trading activities will be handled according to the law.
The move by the PBoC is thought to be in response to the wave of strong investment in cryptocurrencies in the past few days in China, since Chinese President Xi Jinping voiced support for Blockchain making the delivery operations Cryptocurrency outbreak in China is booming.
In addition, to avoid misunderstandings as well as to restrain the increase of cryptocurrency activity The Chinese government recently had to reassert "Blockchain, not cryptocurrency".
Perhaps this is the explanation for the sharp decline in Bitcoin prices in recent days.
Do people have any comments on this?
I just read that it was Google announcement and on this thread it's China's announcement, people are looking for the cause of Bitcoin dropping maybe both of them impacted Bitcoin's price, but any impact that they bring, are going to be nonsense, as the price will eventually recover, the buy support is now going stronger, the believers will support the price, until we get the price back again, probably next week.
November 23, 2019, 08:40:15 AM
This is completely normal because everyone knows that the crypto market is manipulating. The Chinese government only supports blockchain technology but in addition does not support cryptocurrencies. It seems that the market is declining sharply and tends to decrease when the sellers still have not given up. The daily chart shows that bitcoin still needs to retest the critical support of $ 6k8 before the pump or dump is strong. so now we should not buy or sell because the indicators are unknown.
Bad news has greatly affected this market and China is proving that they are people who can control the value of Bitcoin at any time. I think this is really dangerous because if the government starts checking crypto transactions then investors will be very scared. Hopefully, this country will have better strategies to protect investors and this is what everyone needs in this time. 
November 23, 2019, 08:31:22 AM
This is not a new rhetoric from the Chinese government but became one of the main reason for the bearish run. China has officially outlawed crypto exchange yet a lot of trading volumes still comes from mainland China. The population is so fluid that the officials have to dictate simple instructions so that they don't go crazy for a trend. They needed to take an action as the market misinterpreted Xi's worlds as a support for crypto trading.
November 23, 2019, 08:15:59 AM
We have been hearing different news from China, ban this, ban that, slash this, slash that yet here we are still pushing forward, although not fast but slow and steady they say wins the race. Yes it affect Bitcoin price, in fact the whole market but does that mean we are going down flat? No, but it will only make us more stronger and better. We will live through this, that's for sure. I think it's a matter of time and all these news will be seen as nothing..
November 23, 2019, 08:00:50 AM
This is completely normal because everyone knows that the crypto market is manipulating. The Chinese government only supports blockchain technology but in addition does not support cryptocurrencies. It seems that the market is declining sharply and tends to decrease when the sellers still have not given up. The daily chart shows that bitcoin still needs to retest the critical support of $ 6k8 before the pump or dump is strong. so now we should not buy or sell because the indicators are unknown.
November 23, 2019, 07:51:26 AM
China has been banning Crypto, Bitcoin, Mining, Exchanges and whatnot for years. Every one of these so called "bans" is usually followed by a uptrend in Bitcoin, some positive news gets released. This in turn is followed by a huge dump, followed by a "Choina bans something"
I guess this one was so effective because they had been quiet for so long.
Exactly even first China exchange ban , then mining ban every ban after market increased even bitcoin reached its peak till 20000 when China keep on banning. I think China is not contributing much to crypto space so these Chinese news doesn’t effect market . Now it’s bearish market get some good coins forget about these Chinese news . I guess this one was so effective because they had been quiet for so long.
November 23, 2019, 06:52:44 AM
In crypto space we've been through this alot before, none was able to stop bitcoin than just making it lose part of its value, i am surprised that some weak investors thinks this is a bad news for bitcoin, yes price is shaken off a bit but even if bitcoin goes down to 4k its going to rise again, come to think of it that is a good time to buy
November 23, 2019, 06:48:02 AM
I think it's pretty normal to take down illegalities within their jurisdiction. Whether it will be crypto exchanges or any business that operates on their land. With that announcement, I don't see that it's the reason why the market plummeted.
There must be some reason why it's plummeting.
There must be some reason why it's plummeting.
November 23, 2019, 06:35:07 AM
I think the market reacts to the current situation in china, specially in the information about crackdown of illegal cryptocurrency exchange in its territory, the investors are worrying about the situation that's why they are dumping its cryptocurrency holdings for that reason. But i believe it was just temporary i'm sure it will recover soon.
November 23, 2019, 06:17:56 AM
why can a country like China trigger a price change that is so contradictory to the year-end forecast?
With nearly 1.4 billion people, any change coming from China could affect the whole world and the cryptocurrency market is no exception.any movement made by China can always trigger a significant decrease or increase.
sometimes I think whether this is the name of price manipulation to make a profit quickly?
November 23, 2019, 03:06:48 AM
Well this was a severe blow to bitcoin since its been long that something like this happened last but alas we are talking about bitcoin here, a digital currency that have die many times already, it always finds its way back to its feet in a matter of time
November 23, 2019, 03:01:34 AM
OP, why not include the word "illegal" in the title? That is a very important part there.
I'm pretty sure some people here will not even bother to read the content of your post and make their own comment
As for the topic, I don't see anything wrong with banning illegal exchanges. Every country has the right to do that.
News about Binance and Bithumb being closed down in China were also denied.
By the way, where is your source of this news?
I'm pretty sure some people here will not even bother to read the content of your post and make their own comment
As for the topic, I don't see anything wrong with banning illegal exchanges. Every country has the right to do that.
News about Binance and Bithumb being closed down in China were also denied.
By the way, where is your source of this news?
November 23, 2019, 02:49:57 AM
why can a country like China trigger a price change that is so contradictory to the year-end forecast?
any movement made by China can always trigger a significant decrease or increase.
sometimes I think whether this is the name of price manipulation to make a profit quickly?
any movement made by China can always trigger a significant decrease or increase.
sometimes I think whether this is the name of price manipulation to make a profit quickly?
November 23, 2019, 02:35:31 AM
China has been banning Crypto, Bitcoin, Mining, Exchanges and whatnot for years. Every one of these so called "bans" is usually followed by a uptrend in Bitcoin, some positive news gets released. This in turn is followed by a huge dump, followed by a "Choina bans something"
I guess this one was so effective because they had been quiet for so long.
I guess this one was so effective because they had been quiet for so long.
November 23, 2019, 01:16:17 AM
In a recent statement, the People's Bank of China (PBoC) said that illegal crypto exchanges in China would not have a living land.
Specifically, the PBoC warned that it would take specific action against illegal crypto exchanges in the country and review all transactions involving cryptocurrencies and bitcoin.
PBoC is committed to handling and controlling cryptocurrency trading activities in China. Indicate that individuals and organizations who have illegal cryptocurrency trading activities will be handled according to the law.
The move by the PBoC is thought to be in response to the wave of strong investment in cryptocurrencies in the past few days in China, since Chinese President Xi Jinping voiced support for Blockchain making the delivery operations Cryptocurrency outbreak in China is booming.
In addition, to avoid misunderstandings as well as to restrain the increase of cryptocurrency activity The Chinese government recently had to reassert "Blockchain, not cryptocurrency".
Perhaps this is the explanation for the sharp decline in Bitcoin prices in recent days.
Do people have any comments on this?
Specifically, the PBoC warned that it would take specific action against illegal crypto exchanges in the country and review all transactions involving cryptocurrencies and bitcoin.
PBoC is committed to handling and controlling cryptocurrency trading activities in China. Indicate that individuals and organizations who have illegal cryptocurrency trading activities will be handled according to the law.
The move by the PBoC is thought to be in response to the wave of strong investment in cryptocurrencies in the past few days in China, since Chinese President Xi Jinping voiced support for Blockchain making the delivery operations Cryptocurrency outbreak in China is booming.
In addition, to avoid misunderstandings as well as to restrain the increase of cryptocurrency activity The Chinese government recently had to reassert "Blockchain, not cryptocurrency".
Perhaps this is the explanation for the sharp decline in Bitcoin prices in recent days.
Do people have any comments on this?
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