Is it really disturbing? What is disturbing is how markets knew about this coming for ages and still reacted, somehow, some way, this strongly, which makes absolutely no sense to me and suggests that there is currently a lot of irrational actors driving price action.
The PBoC was never intending to endorse decentralised cryptos in the first place yet people were acting like they were when Xi's comments initially came out.
It's an overreaction both ways, imo, and there is no reason to believe that prices should fall down to previous bear market bottoms again.
Topic: Disturbing - page 3. (Read 702 times)
We know how big china's influence in crypto, but the fact that they have already banning crypto years back, it should not affect much now if they made an announcement again. AFAIR, they announce a ban before the last bull run, but what we have, we have a great bull run and even China FUD that time is useless. Maybe let's just focus on other things and be mature already, forget about china's negative first since the banning is very negative and it has already affected the market, too some times to positive adoption other country has done and offered.
I am telling you, BTC will pump again, that's the game.
I am telling you, BTC will pump again, that's the game.
Again and Again, news like this from china. always there's a FUD on china. do you think still any hidden scenario from this news right ?
how do you think ? just use our logic. why now? bitcoin already operated on there for almost 10 years. and now they make this become a problem? it's like a joke man. an Old method still used for making ppl panic. because these years become last time for buying bitcoin at deep price.
how do you think ? just use our logic. why now? bitcoin already operated on there for almost 10 years. and now they make this become a problem? it's like a joke man. an Old method still used for making ppl panic. because these years become last time for buying bitcoin at deep price.
the first thing that pops into my head when i see that is tether, given their huge push into the chinese market over the past year:
That move on their part blew my pea-sized mind. It's as if they were actively looking to get 15 bulging inches up them all the way to the hilt.
I never bothered to look into the details of it or how used it is. The whole idea seemed bonkers from the off.
It's not only China we need to worry about. Thanks to Libra, the US Congress is mulling over a bill that would make centralized stablecoins "securities" under federal law: https://www.cnbc.com/2019/11/21/new-bill-would-make-facebooks-cryptocurrency-a-security-under-the-law.html
That could have big implications for any exchange that serves US customers and lists stablecoins. Thanks a lot, Zuckerberg!
On the plus side, it could be a boon for decentralized stablecoin liquidity. Coins like DAI aren't "managed" stablecoins.
It's kinda disturbing how every major overhaul is a result (Probably) of China's action towards the crypto space. Last time when BTC jumped from 7.3k to 10k, there were talks that it was China's announcement regarding their choice to concentrate on developing blockchain technology. We've seen the gradual stabilization of 10k to 9k then dropping down to a bull run of 8k and at the moment, 7.1k. The progress from 9k - 8.1k took a few weeks to say the least, and yet, BTC suddenly took a drop from 8k - 7.1k, ever so closing into the 6k mark.
And at this point in time did China announce that they are vowing to ban all local crypto exchange inside their country. This isn't a result of them having majority of their local market for the crypto, but a genuine ban on it and instead said that they would focus more on blockchain technology instead.
source: https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges
And at this point in time did China announce that they are vowing to ban all local crypto exchange inside their country. This isn't a result of them having majority of their local market for the crypto, but a genuine ban on it and instead said that they would focus more on blockchain technology instead.
source: https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges
Since they have spoken we have need to get used to it that China will not accept Bitcoin only blockchain, but I highly doubt if they can stop it's people to hodl and use Bitcoin, they can do it in their jurisdiction, but we have Chinese already in Cryptocurrency and there are Chinatown or Chinese in every part of the world, and this is only for Xi Jinping administration, government come and go but Bitcoin will still be here.
For people who already know on how to use bitcoin for sure they will not leave it since they surely don't want to lose a source of profit since we all know what bitcoins could possibly bring to us interms of investment and those China fuds will subside since many people will forget those news and it's not new we already encounter many of these so provably these is a sort of manipulation to create a bad impact to the price of bitcoins.
It's kinda disturbing how every major overhaul is a result (Probably) of China's action towards the crypto space. Last time when BTC jumped from 7.3k to 10k, there were talks that it was China's announcement regarding their choice to concentrate on developing blockchain technology. We've seen the gradual stabilization of 10k to 9k then dropping down to a bull run of 8k and at the moment, 7.1k. The progress from 9k - 8.1k took a few weeks to say the least, and yet, BTC suddenly took a drop from 8k - 7.1k, ever so closing into the 6k mark.
And at this point in time did China announce that they are vowing to ban all local crypto exchange inside their country. This isn't a result of them having majority of their local market for the crypto, but a genuine ban on it and instead said that they would focus more on blockchain technology instead.
source: https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges
And at this point in time did China announce that they are vowing to ban all local crypto exchange inside their country. This isn't a result of them having majority of their local market for the crypto, but a genuine ban on it and instead said that they would focus more on blockchain technology instead.
source: https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges
Since they have spoken we have need to get used to it that China will not accept Bitcoin only blockchain, but I highly doubt if they can stop it's people to hodl and use Bitcoin, they can do it in their jurisdiction, but we have Chinese already in Cryptocurrency and there are Chinatown or Chinese in every part of the world, and this is only for Xi Jinping administration, government come and go but Bitcoin will still be here.
China is most adept at playing information through the media. From the beginning I knew crypto every important moment, they would definitely issue a statement that would make the market go down or up. And it seems like this will continue to happen in the future. Now we just have to anticipate the news with the position of buying or selling or holding assets or bitcoin that we have
Thank God they are finally out.
There is still a lot of country out there. That is just one.
We should really move on to why it had always been China who could move the bitcoin price.
What is next? Maybe we should talk about Japan or Russia. Those are one of the third world countries that are also booming in technology.
There is still a lot of country out there. That is just one.
We should really move on to why it had always been China who could move the bitcoin price.
What is next? Maybe we should talk about Japan or Russia. Those are one of the third world countries that are also booming in technology.
China has two faces catalyst it can blow the market at same time it could hurt the market too. Many people are so much affected by Chinese news or probably Chinese traders has so much more power that can influence the crypto market.
It's all about China now?!!
What happened to the wise people. Are they really that dumb by now to not have their own speculation anymore?
I mean, why does every price drop and pump will come from the effects of what Chinese government said?
We should really stop this nonsense.
Let us go back into why bitcoin really moves like crazy.
It is volatile. Period. Fin. End.
What happened to the wise people. Are they really that dumb by now to not have their own speculation anymore?
I mean, why does every price drop and pump will come from the effects of what Chinese government said?
We should really stop this nonsense.
Let us go back into why bitcoin really moves like crazy.
It is volatile. Period. Fin. End.
the first thing that pops into my head when i see that is tether, given their huge push into the chinese market over the past year:
That move on their part blew my pea-sized mind. It's as if they were actively looking to get 15 bulging inches up them all the way to the hilt.
I never bothered to look into the details of it or how used it is. The whole idea seemed bonkers from the off.
China FUD in 2019. Great.
there's more to come. the PBOC issued a statement suggesting they will "further regulate" offshore exchanges that serve chinese residents. https://twitter.com/DoveyWan/status/1197809485726638083
the first thing that pops into my head when i see that is tether, given their huge push into the chinese market over the past year:
Quote
In recent months, over-the-counter crypto trading in China has exploded, just as Chinese spot traders began buying nearly all of their Bitcoin with the stablecoin Tether, according to a study by researcher Chainalysis Inc. Tether was used in 99% of Bitcoin spot trades in China this year, almost completely displacing the yuan, while Bitcoin trading in markets like Japan and Korea is still mainly conducted through fiat, the researcher found.
https://www.bloomberg.com/news/articles/2019-10-15/china-trading-ban-is-fueling-rise-of-controversial-crypto-coin
https://www.bloomberg.com/news/articles/2019-10-15/china-trading-ban-is-fueling-rise-of-controversial-crypto-coin
imagine bitcoin's two greatest sources of FUD---china and tether---joining forces. this could be the most explosive FUD of all time in the making!
As above, China has been a plump, engorged, glistening tumour on Bitcoin since minute one. Nothing of worth has come from there.
Heh heh heh. Well, a lot of mining comes from China and that's something to go along with their counterfeit goods and god knows what else. Seriously tho, don't underestimate the sheer number of people in China and what kind of influence they can collectively have. Not saying they're responsible for what happened with bitcoin lately, but I haven't heard a better explanation yet. It could well be simple market forces behind all of this instead of a very powerful Chinese cabal, but there's no way of telling is there?
the chinese government always likes to send a message when they sense that bitcoin speculation is on the rise.
Yeah, and they should just learn to shut the hell up. Same thing with Trump. Especially Trump.
I think I might start sleeping with Xi Jinping so I can persuade him to stick a fork in Bitcoin on national TV to close this chapter for good.
And it won't solve anything, the chapter can't be closed, it's like the flat earth debate, every time you think it's over another one pops-up!
China cand go two extreme ways
a) capital punishment for everyone that owns, trades, types or pronounces the word bitcoin or crypto.
Result? Every week we will have a topic wondering if China will accept bitcoin again!
b) China adopts bitcoin as the only legal and mandatory currency
Result? Every week we will have a topic about all this being a trap and China plans to take over bitcoin and crush it!
No, there is no way this China madness will ever end, it's the perfect excuse to be bought with any dump or pump, the perfect ingredient for some conspiracy stuff, we will never get rid of it.
We have so many new people in the space who don't really remember Chinese FUD. I wish they would know better and not panic, but it looks like they will have to learn the hard way.
Whether it's true or not, it's still enough to get that newbie blood pumping. It's boring and crap but it is what it is.
Quote
I think I might start sleeping with Xi Jinping so I can persuade him to stick a fork in Bitcoin on national TV to close this chapter for good.
This have crossed my mind for quite a long time. And I as well think that Xi Jinping does need more than a crypto enthusiast. Maybe a psychiatrist? just for this long battle may come to an end. Because I do not know what is real anymore on what are probably the causes of changes in the market, and what really is China towards to crypto currency. 
Well I hope they get my prediction right for the year end price contest, if somehow I proved especially too positive its going to surprise me just a tad.
That would explain why we lost pretty much all we gain previously from that speech. I got zero surprise on that 'news' Its the communist party or a military dictatorship if we are dropping any pretence, if somehow the threats of men with guns are the most important dynamic in crypto or in the world even then my soul is already injured beyond repair and the price is irrelevant.
However I don't actually think red party bureaucracy sets the worlds tides, we have more important and natural phenomena to focus on and that will prove positive for crypto. A reversion in the price on that previous hyped speech I guess does spell lower, a false break up helps lower the price as it discourages buyers in the price. But also I would argue if the world is taking communism as some new negative then thats bullish. Nothing changed and they were always idiots no matter what speech they come out with, the price is just jumping about in a volatile way as BTC is prone to do. This lower price is not based on an actual new negative in fundamentals to be scared of nor the price action similarly.
Quote
take new steps to uphold its trading ban
That would explain why we lost pretty much all we gain previously from that speech. I got zero surprise on that 'news' Its the communist party or a military dictatorship if we are dropping any pretence, if somehow the threats of men with guns are the most important dynamic in crypto or in the world even then my soul is already injured beyond repair and the price is irrelevant.
However I don't actually think red party bureaucracy sets the worlds tides, we have more important and natural phenomena to focus on and that will prove positive for crypto. A reversion in the price on that previous hyped speech I guess does spell lower, a false break up helps lower the price as it discourages buyers in the price. But also I would argue if the world is taking communism as some new negative then thats bullish. Nothing changed and they were always idiots no matter what speech they come out with, the price is just jumping about in a volatile way as BTC is prone to do. This lower price is not based on an actual new negative in fundamentals to be scared of nor the price action similarly.
China FUD in 2019. Great.
It was to be expected after China's blockchain announcement. People here are so stupid that you can make them believe whatever you want.
As always, the chart is the news; we broke below an important trend line, nullified the $3000 pump, saw the volume drop significantly, etc. It was a perfect bearish setup, one I took advantage of. This is going to sink much deeper. Short term speaking there might be a bounce up, possibly up to $8000 but it won't last.
I'm prepared for low $6000's and believe it's very realistic with the december month historically being a bad performance month for Bitcoin. Great time to accumulate.
And at this point in time did China announce that they are vowing to ban all local crypto exchange inside their country. This isn't a result of them having majority of their local market for the crypto, but a genuine ban on it and instead said that they would focus more on blockchain technology instead.
source: https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges
source: https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges
they would just be enforcing the ban they issued in 2017. all chinese exchanges of note already shut down or left the country, hence the emphasis on "local" (read: small) exchanges.
the chinese government always likes to send a message when they sense that bitcoin speculation is on the rise.
Disturbing as it may sound. Chinese fud never fails, it always work for everything a media can do. If they wanted the price to rise, they can initiate news just about anything and if they want price to dip, they can lie about Shanghai binance office. What else that we can't believe? China can make an impact to the current price no matter what so all these can rely so much about what they do and I guess all you can say wold be just to thank the crypto sites that publishes all these.
We have so many new people in the space who don't really remember Chinese FUD. I wish they would know better and not panic, but it looks like they will have to learn the hard way.
Whether it's true or not, it's still enough to get that newbie blood pumping. It's boring and crap but it is what it is.
I think I might start sleeping with Xi Jinping so I can persuade him to stick a fork in Bitcoin on national TV to close this chapter for good.
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