Topic: Chinese market has nothing to do with BTC price, am I right? (Read 314 times)
Considering 2Bn. of people living in China, majority of the crypto and mining users and investors are from China, of course, there is too much affect on cryptos. As you know there was a ban to crypto in all usages through the country, many of the investors and people who use cryptos will unable to apply that system. In this case, logically decreasing of the price is inevitable.
ICO has nothing to do with the price of bitcoin. Now in many countries there is an active attack on bitcoin users. For example, India's recent ban. This is the second largest country in the world. But at the same time, we see a stable trend towards an increase in bitcoin prices. It seems to me that the price factor of all cryptocurrencies is determined by the strategy of coordinated actions of whales.
ICOs were only banned, but investors as far as I am concerned have not stopped holding their bitcoin and I am sure the reason why the Japanese market grew over night was as a result of probably the Chinese traders moving into the market due to the exchange problem and issues in China. However, China on its own does not have anything to do with the market; the market is responding normally when it is ready to respond, and whatever happens on the chart shows some huge number of big guys playing with the market.
I kind of agree. Well once in a while a chinese drama do affect the price but some day crypto users will eventually tire of anything chinese and it won't have the effect it has like today. In the end, btc price will still be based on supply and demand and demand will only increase in time
ICO has nothing to do with the price of bitcoin. Now in many countries there is an active attack on bitcoin users. For example, India's recent ban. This is the second largest country in the world. But at the same time, we see a stable trend towards an increase in bitcoin prices. It seems to me that the price factor of all cryptocurrencies is determined by the strategy of coordinated actions of whales.
ICOs were only banned, but investors as far as I am concerned have not stopped holding their bitcoin and I am sure the reason why the Japanese market grew over night was as a result of probably the Chinese traders moving into the market due to the exchange problem and issues in China. However, China on its own does not have anything to do with the market; the market is responding normally when it is ready to respond, and whatever happens on the chart shows some huge number of big guys playing with the market.
Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.
i disagree and i say Chinese market doesn't have that big an effect on bitcoin price that everybody has been thinking so far all these years. it is more of a fear of Chinese market that causes weird movements in bitcoin price.
not to mention that every year at the same time we have the same drops and that is while we only had the Chinese ICO ban this year!
No country in this world has a huge impact on the price of bitcoin as far as I feel. The market sure responds to news but we have to consider the fact that this is a decentralized market and the whales will always have an upper hand. With the way the market responds sometimes, you will definitely know that it is somehow controlled, and if some group of people just wants it down, there is nothing stopping them. May be all these would change in the future, but for now, it just keeps happening.
Before yes but now Koreans are the ones who drives the market up and down.
It is really affecting the price of bitcoin and most of the news that comes from any country that is reflecting the price of bitcoin is through FUDs. There are also affection through good news but I see higher impact with those fake ones.
China has limited their people to invest into ICO's but they can still play through the bitcoin market especially for those who are rich enough, they can fly away in any country where they want to just to pursue their desire of getting involved in the market all the time.
It is practically impossible to fly to another country just to trade bitcoin,it is a highly impossible situation that would happen,major miners from China are moving to other countries but i am not sure traders would migrate just for the sake of bitcoin,Chinese market has nothing to do with the price of bitcoin right now but i hope they will allow people to trade at a later time.China has limited their people to invest into ICO's but they can still play through the bitcoin market especially for those who are rich enough, they can fly away in any country where they want to just to pursue their desire of getting involved in the market all the time.
It's not about trading bitcoin forever, it's about exchanging it to fiat to a better country that has a better law about crypto / bitcoin so they can cash out easily and effortlessly.
Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.
China surely has no bearing on btc prices as of now. With the way the government is acting, it seems they do not want money to out of their economy as what it was before they clamped down on btc.
My speculation is China will not really embrace bitcoin, only the technology. They see bitcoin as a product of western ideology and will undermine the communist party there.
China does have a big influence in the price of bitcoin and before the ban they have the biggest volume when it comes to bitcoin trading and so it does have a big influence in the price and after the ban we could still see big volumes coming from Asian countries and my guess is that the Chinese are trading in other Asian exchanges,banning of ICO does not make any difference to the price of bitcoin.
It doesn't. Like you've just said it had the biggest volume, but now that volume has moved to Japan and Korea. There's no trading in China, so negative news from china don't and will have no influence on the price. We can't be sure where the Chinese traders are trading now, but it's probably Japan since it has the biggest volume at the moment and is in a close proximity. I think that China will enable trading later this year.
The ICO ban is an attempt to attract internal reserves for investments. I don't know how it will stimulate production, but the course of their thoughts is clear. It seems to me that e-currency cannot be stopped by any government. For this reason, we have not seen significant changes since their limitations.
I don't think it has anything to do with that. The widely accepted reason seems to be that they want to stop capital outflows, and it does make sense considering they also banned exchanges. Most of their other actions also seem to indicate the same. No one knows for sure though, I guess.
The ICO ban is an attempt to attract internal reserves for investments. I don't know how it will stimulate production, but the course of their thoughts is clear. It seems to me that e-currency cannot be stopped by any government. For this reason, we have not seen significant changes since their limitations.
I don't think it has anything to do with that. The widely accepted reason seems to be that they want to stop capital outflows, and it does make sense considering they also banned exchanges. Most of their other actions also seem to indicate the same. No one knows for sure though, I guess.
We can’t deny the fact that every country can affect bitcoin pricing
It is really affecting the price of bitcoin and most of the news that comes from any country that is reflecting the price of bitcoin is through FUDs. There are also affection through good news but I see higher impact with those fake ones.China has limited their people to invest into ICO's but they can still play through the bitcoin market especially for those who are rich enough, they can fly away in any country where they want to just to pursue their desire of getting involved in the market all the time.
Well I agree on that, FUDs and fake news have affected the price much more than a good news. Maybe because the investors on cryptocurrency right now are still young and new, that they’re decision rely much on emotions and never have been as experienced as crypto user on early days of bitcoin. Of course, chinese citizen can still invest on bitcoin and not on ICO but it is really annoying on their part to just go out on other country and participate.
It is practically impossible to fly to another country just to trade bitcoin,it is a highly impossible situation that would happen,major miners from China are moving to other countries but i am not sure traders would migrate just for the sake of bitcoin
If you as wealthy individual don't agree with the authorities regarding their hostile stance on crypto in its entirety, and it affects you personally, you'll move out. Especially when you know for sure that you'll be missing out on hundreds of thousands of dollars in profits every year. I would do the same if that would allow me to continue doing what I have always been doing, but suddenly was forced to stop due to my paranoid government. Admittedly, this only applies to a very small minority of the traders in this market, but still, it happens, and will continue to happen. I respect these individuals a lot, because they don't let their government form an obstacle in their personal and professional life.
i hope they will allow people to trade at a later time.
I am fairly sure that they will, and likely within the coming few years. I strongly believe that China shutting down its exchanges was done purely to buy time in order to come up with proper regulations. Patience....
It is really affecting the price of bitcoin and most of the news that comes from any country that is reflecting the price of bitcoin is through FUDs. There are also affection through good news but I see higher impact with those fake ones.
China has limited their people to invest into ICO's but they can still play through the bitcoin market especially for those who are rich enough, they can fly away in any country where they want to just to pursue their desire of getting involved in the market all the time.
It is practically impossible to fly to another country just to trade bitcoin,it is a highly impossible situation that would happen,major miners from China are moving to other countries but i am not sure traders would migrate just for the sake of bitcoin,Chinese market has nothing to do with the price of bitcoin right now but i hope they will allow people to trade at a later time. China has limited their people to invest into ICO's but they can still play through the bitcoin market especially for those who are rich enough, they can fly away in any country where they want to just to pursue their desire of getting involved in the market all the time.
We can’t deny the fact that every country can affect bitcoin pricing
It is really affecting the price of bitcoin and most of the news that comes from any country that is reflecting the price of bitcoin is through FUDs. There are also affection through good news but I see higher impact with those fake ones.China has limited their people to invest into ICO's but they can still play through the bitcoin market especially for those who are rich enough, they can fly away in any country where they want to just to pursue their desire of getting involved in the market all the time.
I do not think that China, as it can affect the price of bitcoin although there are large mining and farm, but still some news troubled some investors and they panic that just leads to a panic in the market but then stabilized as even China cannot oppose anything bitcoin!
Probably impossible to be so categorical. The Chinese government is no fool. They always know what they're doing. The ICO ban is an attempt to attract internal reserves for investments. I don't know how it will stimulate production, but the course of their thoughts is clear. It seems to me that e-currency cannot be stopped by any government. For this reason, we have not seen significant changes since their limitations. Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.
They definitely still have an impact on the global bitcoin market.
Just because their government has banned bitcoin, does not mean that people are stopping to trade bitcoins altogether. That would make no sense considering that was literally the venture that made them rich in the first place.
They have a more hidden influence right now, though. A lot of the purchasing and trading have now gone to p2p mode, sometimes completely off localbitcoins and only through a network of contacts, even. Others may be trading overseas in different various exchanges. It's not right to discount the Chinese bitcoin community like that, they are still thriving just in a different way.
I have heard that even though a ban for trading has been made, traders were able to find a way around it. They did not stop trading despite what their government has done therefore the ban did not have much effect expect spread some FUD when it was announced.
Considering that a large volume of miners and traders belong in China, their market has nothing to do with the price however may somewhat affect it. It has been said that the recent price drop was caused by Chinese New Year, and since it's tradition for the Chinese to spend luxuriously during this event, many crypto-users from China has cashed out in order to spend. Considering this, the large volume of users within their country can actually have some effect on BTC price.
Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.
Agree with your words since September 4, 2018 until now nothing has changed with the rules it. This is a fact while what happened last month is just a mere FUD.
The Chinese government really narrow the bitcoin motion with the rules it makes, they have strictly forbidden adopters and crypto users to buy bitcoin.
I do not think that China, as it can affect the price of bitcoin although there are large mining and farm, but still some news troubled some investors and they panic that just leads to a panic in the market but then stabilized as even China cannot oppose anything bitcoin!
We can’t deny the fact that every country can affect bitcoin pricing, if we’re talking about on investors and demand aspect. Like China last September breakdown cause a slight dip on price after the implementation but recover afterwards. The recent attacks by mainstream and influential people have implicated this slow response of investors because of doubts.
Is this another news for real? It doesn't have any source where we can read if this is an official statement. Since last year, I don't have any interest if there's news about China.
ICOs are still banned, but cryptos aren't. They only expanded the exchange ban to include even peer-to-peer exchanges, which were used as a loophole, as detailed in this article:
https://cointelegraph.com/news/china-after-banning-exchanges-authorities-move-to-close-exchange-like-services
So basically, you're still free to trade for as long as you don't use any platform. Some consider this a de facto ban, which is why you often see people exaggerating, saying everything is banned.
China still has some sway, especially because they house majority of the world's hashpower behind their Great Firewall, but I don't think they can do any worse to the market than the crash to $3000 with their initial exchange ban last year.
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