Do you think China has halted the pace of bitcoin reaching new high?? - page 3.

jamids

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Quote from: vsrsatish on September 23, 2017, 09:51:09 PM

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

Why is it that the bitcoin price is pegged to China. China is not only the country who trade bitcoin. Anyone in the world can trade bitcoin and China has only a small market share now. There are many whales out there not base in China so we should not always think that whatever China do, it would be of great importance because they are not the owner of bitcoin. Maybe it is good that they will ban bitcoin trading and suspend their exchanges because they cannot messed up bitcoin price in the future.

cafucafucafu

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Quote from: vsrsatish on September 23, 2017, 09:51:09 PM

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

They are already forgetting about it.

Forgetting isn't the right word though, it's just that people are starting to realize what goes on in China is inevitable, but doesn't really make a difference on how bitcoin is used or run. If people want to trade, they can easily do so on localbitcoins still.

The price is rising up fairly quickly now to around $3950 on coinmarketcap. By the end of the day, the price should be over $4k and pushing for a big pump. Yes, chinese news had a big effect on price a week ago but as i said, markets have matured and following the week long sideways movement is a pump.

Jating

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Quote from: vsrsatish on September 23, 2017, 09:51:09 PM

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

To an extent yes, China has somewhat halted the progress of bitcoin. We have enjoying the best price of it until the China announcement. The only question is the timing of their declaration banning ICO. They should have done it when they suspend the withdrawal of the Chinese exchanges last March. But when they saw that bitcoin can't be ignored, they unleash everything they got to stop the price going further. But we have move forward already but there will be still China hang over until the last of the bitcoin exchanges stop its operation.

But they still have the monopoly of the bitcoin mining. According to Charlie Lee, they won't go after the mining industry, but we don't know if that is true. Maybe when we are enjoying new ATH again, suddenly they would change their mind and close mining too.

richardsNY

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This market was due for a correction, and that's the most important point people don't seem to realize. Nothing only goes up in value, and it's quite frustrating that people do think like that, because at the time the price happens to go down, they don't understand what the reason is and start to panic as result. Another thing is that the general way of thinking here is that China is the main reason Bitcoin has been growing, which obviously isn't the case. Bitcoin is far bigger than whatever country not willing to acknowledge Bitcoin's usefulness, so stop focusing on China for once.

hatshepsut93

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Quote from: vsrsatish on September 23, 2017, 09:51:09 PM

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

The timing for their decision to close exchanges was extremely accurate, it was the same day when Bitcoin reached its all time high, and quickly after that the wide public started getting rumors that China will close exchanges, which eventually got officially announced. So, the question is - was that a coincidence and if not, did China decided to intentionally crash Bitcoin for some reason? And its hard to answer that, because we have no direct information from the Chinese government and their motives can be really hard to read.

Lancusters

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I heard that the Treasury of China's a lot of dollars. Maybe China wants to translate them into bitcoin and therefore spread such rumors to lower the price. Trade war between America and China don't stop, ever. China's abandonment of the dollar will be a serious blow to America.

Seansky

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Quote from: ihsanskanzaone on September 24, 2017, 05:47:57 AM

can be said yes because when the ban bitcoin in cia bitcoin prices began to decline but I predict the price of bitcoin will increase again considering the start of bitcoin in various countries so can make sure the price of bitcoin will come back again peaked

I won't be sure about that. There is still a possibility that the manipulator/s is or are not Chinese and is just manipulating btc price based on news about China. It can be said though that the China issue might just be a cover for the one manipulating bitcoin too manipulate it in his will without others finding out what his race is. Whoever that is, he/she/they are trying to halt the pace of bitcoin reaching new highs.

ihsanskanzaone

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Can be said yes because when the ban bitcoin in China bitcoin prices began to decline but I predict the price of bitcoin will increase again because the number of bitcoin users in various countries began to increase so can be sure the price of bitcoin will return again at the peak

talkbitcoin

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All I know is that I know nothing.

China, China, China! and more China. everywhere i look i see China these days.

some people put too much faith in China and the funny thing is that you all forget about China and ignore the issues over there as soon as price started to move up again.
just like any other time before this that you forgot!

what China is doing has been an ongoing thing for a very long time. but since bitcoin has been rising most of that time, you all turned your backs on it but now that FUD is putting the same ongoing thing under magnifying glass you all talk about it nonstop.

kwukduck

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China's fake ban is irrelevant.

The only thing that matters now is the global bans that are in the works.
China TAKING OVER mining operations, effectively owning and controlling the bitcoin network.

The next thing that matters is a complete shutdown of the bitcoin network due to the November hard fork.
If you thought you've seen drama and panic, just wait a few weeks.
This will be world news.
One of the biggest economic disasters of the century where billions were lost.

Lieldoryn

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It is impossible for life to look to China. The one who looks back is always losing speed. Everyone needs to do their work and then bitcoin will exist regardless of the actions of any country. Today China, tomorrow India. Who's next? If this is not the rumors that Amazon will accept payment in bitcoins then this step will negate all the negative effects from the actions of governments.

jerowacik

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Quote from: vsrsatish on September 23, 2017, 09:51:09 PM

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

china as one of the most bitcoin users certainly has influenced the flow of bitcoin in the world today. the decision and regulation of china some time ago proved to have made bitcoin prices get a fairly high correction. the role of china is great but right now we are talking about the development of bitcoin is much better. has seen a positive bitcoin trend today and we are all optimistic there will be another miracle that can make btcoin an extraordinary thing.

Pursuer

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Where is my ring of blades...

even if all the FUD that you have heard so far comes true and then some more, it won't matter for bitcoin. the reason is a little hard to explain, you have to understand what "decentralized" really means to then understand why a country banning things even if they ban bitcoin won't affect bitcoin in the long run.

in other words all the FUD (even if true) will only delay the inevitable. they cause temporary panics in the market where people who are uneducated and don't understand anything about bitcoin (aka weak hands) lose sight of things and start selling which creates a sell pressure on the market preventing the rise for a short time.

but the adoption continues.
you think other people from all around the word are waiting around for China to make up its mind? no, they are jumping on board. I see topics in other forums in my country talking about buying bitcoin and using it these days. everyone sees it as the future.

xypos

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Quote from: vsrsatish on September 23, 2017, 09:51:09 PM

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

Yes. I think that the FUD generated from China about how they are going to ban every single bitcoin operation, not only trading sites but also mining pools and so on has caused some panic and has slowed the growth of price.

IMO it'll probably take around a month or so until people realise that losing china doesnt mean that bitcoin is going to die. Plus, all of this is still rumors.

Once that realization occurs, price could go to $5k+.

HeRetiK

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Playgram - The Telegram Casino

Quote from: Denker on September 24, 2017, 02:40:08 AM

Quote from: vsrsatish on September 23, 2017, 09:51:09 PM

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

Imo the correction we saw would have happened without all the china bs as well. Maybe not so quick and not so hard.
But the market was obviously overbought and needed some cooling off.
The problem right now is that the china situation created some uncertainty. And as long this is not solved (will there be regulated exchanges or will they move somewhere else? What about a mining ban? Will it happen or not?) the price will range between 3000 to 4000(4500).

Definitely. It would be naive to think that BTC would have simply continued to grow without any much needed corrections along the way. Once the China situation has been either resolved or forgotten BTC can move on. I think at this point it doesn't even matter whether China decides in favour of or against BTC. Even a negative decision will be better for the market than the current uncertainty.

Additionally, SegWit2x looming on the horizon doesn't exactly help the situation.

Denker

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Quote from: vsrsatish on September 23, 2017, 09:51:09 PM

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

Imo the correction we saw would have happened without all the china bs as well. Maybe not so quick and not so hard.
But the market was obviously overbought and needed some cooling off.
The problem right now is that the china situation created some uncertainty. And as long this is not solved (will there be regulated exchanges or will they move somewhere else? What about a mining ban? Will it happen or not?) the price will range between 3000 to 4000(4500).

Yuhee

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Quote from: CryptoBry on September 23, 2017, 11:49:47 PM

Quote from: vsrsatish on September 23, 2017, 09:51:09 PM

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

Yes, definitely the deluge of many bad news emanating from the government of China temporarily put a lid in the growth pattern of Bitcoin but one good thing is that Bitcoin has become resilient and so the fall is not really that catastrophic. And naturally it would take some time for the same growth pattern to return most especially that we are also waiting for the November hard fork.

Failure of others is an oppurtunity for most. As the saying goes China may think it is a lose but other would take oppurtunity because a big entity supporting btc is now laying low on it. Its too early if btc has been a success since that Banning because truly it had affected the price of btc and this past week it is yet to achieve the 4k$ mark. I dont think it is a guarantee that btc will increase during november but at least it is not falling drastically to 3k$.

13abyknight

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Yes, as soon as the FUD started gaining ground, it felt like the price fell off a cliff and went down to as low as $2500. Now that the panic sellers are gone, BTC is definitely gaining traction towards its former high and don't expect it to stop there. With or without China, its still heading back to the top and future still seems bright amidst all the turmoil.

CryptoBry

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Quote from: vsrsatish on September 23, 2017, 09:51:09 PM

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

Yes, definitely the deluge of many bad news emanating from the government of China temporarily put a lid in the growth pattern of Bitcoin but one good thing is that Bitcoin has become resilient and so the fall is not really that catastrophic. And naturally it would take some time for the same growth pattern to return most especially that we are also waiting for the November hard fork.

GideonGono

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China's impact is not that great anymore compared in the past. And according to the person above that China only banned ICOs and not Bitcoin which is a good thing. Maybe by the end of the year it will reach $5k dollars and above but of course this is just my guess.

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