Topic: How BIG will the crypto market be if China legit cryptos? - page 4. (Read 400 times)
It depends on multiple factors and not just their decision about other cryptocurrencies other than their own. Even though they cancelled their supposed banning on Bitcoin and possibly other crypto, their new soon to release crypto could be a threat to BTC since it may trigger a shift on Chinese market and might abandon Bitcoin and go with their own gold-backed cryptocurrency. So the effects might not be that significant enough.
With their contribution to the market, I think the market will grow to trillion.
Actually we almost hit that trillion marketcap during the last bull run but if China legalize and we know they have a big number of miners and therefore its expected that they have a lot of people interested in crypto, there should be a significant growth.
Actually we almost hit that trillion marketcap during the last bull run but if China legalize and we know they have a big number of miners and therefore its expected that they have a lot of people interested in crypto, there should be a significant growth.
China is the most populous country in the world, and if such a country were to accept bitcoin and legalize, irreparable progress would happen with bitcoin, I think it is a figure that cannot be imagined, and even if bitcoin shows well to China, we can guarantee that the whole world would slowly introduce bitcoin and thus spread its popularity. It is a country with rapid economic advancement and new technologies that is enough collateral for the whole world for bitcoin to begin to apply bitcoin.
Of course, not everyone will exchange money for bitcoin right away, but when you look at every 30th inhabitant of China taking bitcoin, it's a big deal again. 1.392.690.000/30=46.423.000
Of course, not everyone will exchange money for bitcoin right away, but when you look at every 30th inhabitant of China taking bitcoin, it's a big deal again. 1.392.690.000/30=46.423.000
Legalization of crypocurrencies in China doesn't automatically mean that everyone suddenly puts their money into cryptocurrencies, so don't get your hopes up. With that said, if they really wanted cryptocurrencies, they would already grab some through exchanges like btcc.com; because though cryptocurrencies aren't declared legal in China(as far as I know), they aren't illegal either.
Billion？ Trillion？Quadrillion？
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