China warns Bitcoin is heading to zero - page 4.

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legendary

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Quote from: FMCPAY_GLOBAL on June 22, 2022, 11:15:44 PM

Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency.

this is the worst bullshit any news channel could publish. If not in the times when the price was 1000$ and every time china appeared with threats and the price dropped a lot it never reached zero now that it is at 20,000$ would it drop to zero? this is the most absurd and meaningless thing that this channel has published, the fact is that we are now free of china, the price is no longer under the influence of china. the miners managed to go to other countries, I'm glad they got rid of china. I hope that one day Africa will also be free of China like the miners were free of China

boris singer

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Regardless, when it comes to saying this, China might just as well be considered like the winds of the past.
They have accepted and rejected bitcoin several times and the funds they issued against bitcoin have also continued to happen in the last few years. But indeed I am not at all affected by this and instead have to thank them for their goodwill to remind me, although this I will not consider as something important.

dothebeats

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At the least they no longer ban it Cheesy

China perhaps realized that they're just spending time trying to do these actions and inactions on their citizens buying bitcoin that they only gave up and let their people buy and just add that subtle warning in the end. They ride this current downtrend to create a statement that they're never wrong, hoping to get the "I told you so" response in the end. Whatever tactics they use, China will still surely see its citizens buying bitcoin whenever they can.

Issa56

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Seriously I don't really know why China is just completely against bitcoin, the keep on saying different negative things about bitcoin just to scare investors away from bitcoin, but I believe China can not stop bitcoin from growing, the best thing they can do is just to accept bitcoin, the more they say negative things the more bitcoin pump, am very sure bitcoin can never go to zero, highest that can happen is for us to see the price reduc which is happening currently but bitcoin can not go to zero.

Ultegra134

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Quote from: TheNineClub on June 24, 2022, 11:31:47 AM

After more than 10 years of crypto and BTC, anyone claiming they for certain know what will happen is just lying to themselves and the rest of the world. Could it drop to 0? Yeah, it could. Could it stagnate? Yes. Could it go up? Yes, everything is possible because we can't tell what economic fluctuations in the world will happen in the future. This is a coin toss prediction without any evidence.

Not much has changed honestly, China is known to be against cryptocurrencies for some reason I'm not aware of, if I'm not mistaken, the People's Bank of China banned all cryptocurrency related transactions in late 2021, while mining was also banned in May 2021. Certain people have always been against their usage, calling them names, it's certainly not the first and won't be the last FUD coming from China.

Doan9269

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Quote from: FMCPAY_GLOBAL on June 22, 2022, 11:15:44 PM

Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency

Wthu must we keeo believing on the media news and what's been said about bitcoin, going to zero value is a total misconception many go about talking without knowing the difference of bitcoin from other cryptocurrencies, if they had been scam through ponzi schemes before then there's need to emphasize on thier differences, another proof on bitcoin been used as a digital currency is the same immitation cbdc did to create a version of its likes despite they were both incomparable while bitcoin remains a valuable digital currency.

Anonylz

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For some time btc and the community has taken a break from China fud, to the point I already forgotten about them. I was a bit shocked to see this thread, was like, China fud still exist! Damn this people are very persistent. Lol, it is clear they are very concerned about the btc community, always trying to warn us of any danger ahead. Nice try China. Cheesy

Mpamaegbu

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Thank you China for that vital information 🙄. Now, get lost! I ain't sure anyone wants to hear that from a country that hasn't hidden its hatred for Bitcoin. Whatever the main reason China fights Bitcoin is yet to be revealed. It has finally dawned on her that all its efforts to cripple Bitcoin through numerous bans haven't stalled it a bit, now it's to FUD on it. This too won't work. It's going to fall flat on its face like other propaganda of hers.

traderethereum

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Quote from: Pesona1 on June 23, 2022, 12:09:45 PM

Quote from: traderethereum on June 23, 2022, 10:53:51 AM

If so, let it be and we will see what will happen with the crypto market.
Bitcoin has been tested many times with drastic price drops; this time, bitcoin is experiencing it again.
But I think people still believe that bitcoin will rise again after this.
It's only natural that China thinks like that to influence people's minds, especially people who have just joined bitcoin.
As long as we don't listen to stories like that, we'll be fine.

So far China is the biggest FUD spreader for bitcoin, even China is a country that is quite anti-bitcoin and they continue to do FUD to mentally bring down bitcoin investors, to be honest after seeing the development of bitcoin so far which continues to rise after the price drop , of course what china says It's not something we need to be afraid of, so I think we don't need to listen to what China has to say about bitcoin and it's better if we stick to what we believe in bitcoin.

That's what most of us already know so we can prepare ourselves to take the necessary action.
I think China may have a hidden agenda by being the spreader of FUD all this time because we know a lot of miners are from China and I think they have had a lot of bitcoin stock for a long time.
But even if China continues to be the spreader of FUD for bitcoin, that won't stop bitcoin from getting bigger in the future because people already know the advantages of investing in bitcoin.

CryptSafe

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After this, the newbies would panic and therefore cause market down thread to zero. Chinese government always have longed wanting to put out a ban on Bitcoin which I don't think would be an easy fit for them. If you don't, as a smart investor, buy the dip if you can while paper hands sell, diamond. Nobody can stop the existence of Bitcoin not even the government can do that. This is more or less market manipulation by the government so that some key men can buy more while the market is still favourable to whale's.

TheNineClub

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After more than 10 years of crypto and BTC, anyone claiming they for certain know what will happen is just lying to themselves and the rest of the world. Could it drop to 0? Yeah, it could. Could it stagnate? Yes. Could it go up? Yes, everything is possible because we can't tell what economic fluctuations in the world will happen in the future. This is a coin toss prediction without any evidence.

Dart18

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A government controlled news that is created specially for their country's eyes only had spread out? Yeah, there must be a plan on why it did.
Basically for FUD, that's a start. If not, they are holding Bitcoin and they know this could lead to a reverse psychology thing because they became an enemy of many countries/people. They want to sell it at a higher price. But that's just me being crazy and my opinions, it is possible though.
I never really trusted whatever they print but I want to dig deep on "Why's?" and "How's". There's always a purpose for every move they make.

noormcs5

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Quote from: FlamingFingers on June 23, 2022, 01:27:54 PM

Whenever I see a news update like this is one of the best time to either open a long position or buy the dip or probably a bottom of dip had occurred, this is just a pure Fud, only newbies and people who don't know about cryptocurrency will fall for this cheap stunt, bitcoin is here to stay and it will be forever, huge dump might occur but it will never get to zero, no way!

A general rule in crypto is to do the opposite of the market sentiments and the news which made up these sentiments. When there are fuds that bitcoin is going to zero, it's time to accumulate bitcoin as usually the market will pump from there. Similarly, when you see bitcoin positive news that bitcoin is going to the moon, its time to sell some part of your bitcoins as there are 90% chances that bitcoin will dump where there is too much positive news around.

DanWalker

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This is probably what the Chinese government has been waiting for for years, unfortunately for them it will never happen. A news coming from the country that always considers bitcoin as the top enemy is really not worth our attention. Their claims regarding bitcoin have become futile and they have almost no influence on bitcoin. Perhaps they were too delusional, overconfident in themselves.

amishmanish

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Chinese news is nothing but official propaganda of Chinese government. They like everything to chiniaized. Now they want bitcoin to go and a Chinese copy to come. SO they first banned mining and now they are dissuading the investors and creating a negative image. like everything we will soon see Chinese government, promoting its own crypto currency

ice18

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Talking nonsense about bitcoin and when most investors are in panic they are definitely buying the dip FUD are created to manipulate the price so that they can buy at low price then repeat.

D ltr

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this fud is very bad in history, makes fear stronger, and the value goes down because of this fud, I don't know what China's goal in this case is whether they will adopt bitcoin en masse so that they spread fud aggressively, it's just that, I don't know... just save your money and never invest with hot money

breathlessz

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We often hear news like this at the time of the bearish season, with the hope that bitcoin will decline due to weak holders and fear that it will all happen. I was reminded in 2018 where the conditions were the same as this, but in reality it didn't happen and in fact bitcoin is increasingly known throughout the world, therefore we must have faith that is supported by logical thinking, if the dump happens again it will be used by some people

YOSHIE

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Quote from: FMCPAY_GLOBAL on June 22, 2022, 11:15:44 PM

Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency.

They feel they are great in business and economy, a lot of news is propaganda by China for their benefit.

Everything they did to destroy Bitcoin, all to no avail, how do they know Bitcoin is going to level 0, do they control Bitcoin, no, it's all bullshit and lies, China is really at its wits end when it comes to Bitcoin.

I don't think China can do any propaganda against the Bitcoin market, don't they realize that Bitcoin is bought and used more by other countries, than China.

Quote

The following are the results of a Statista survey about cryptocurrency users or owners conducted in 2020. This survey was conducted by looking at 1,000 to 4,000 respondents per country.
• Nigeria 32%
• Vietnam 21%
• Filipina 20%
• Turki 16%
• Peru 16%
• Swiss 11%
• China 7%
• Amerika Serikat (AS) 6%
• Jerman 5%
• Jepang 4%.

That's 2020 data, maybe if you look again at 2022 data, China is ranked, 2%, do they still want to do engineering.

ven7net

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Quote from: FMCPAY_GLOBAL on June 22, 2022, 11:15:44 PM

Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency.

The Chinese government has capitalized on the violent downturn in the crypto market by warning crypto investors that Bitcoin prices are “heading to zero.”

The South China Morning Post reported on June 22 that Chinese national news media agency Economic Daily had issued the warning about the largest cryptocurrency by market cap to further dissuade citizens from adopting the use of crypto.

The Economic Daily report says the west is to blame for creating a highly-leveraged market that is “full of manipulation and pseudo-technology concepts” which it said was an “important external factor” which contributes to Bitcoin’s volatility.

“Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high,” said the newspaper.

As of the time of writing, BTC is trading at $20,386, 71% down from its high and 0.7% down over the past 24 hours according to CoinGecko.

(source: Cointelegraph)

Personally, I am dismayed by this news. On the one hand, I understand that no one has canceled the manipulation in the crypto market, and this kind of news can be FUD to force weak hands to dump Bitcoin now. But on the other hand, seeing what kind of events are happening now in the world, I begin to believe in such news. To be honest, the situation is really difficult, because every day you have to make a difficult choice, sell or buy or hold? However, I still hope that even if the price of BTC goes even lower, it will not be able to reach zero and after that it will definitely go up. But maybe I just want to, but time will tell how it will actually be.

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