My friend owns some business in the United States and some of them are backed by Chinese Conglomerates (from China obviously). He said that a lot of the Chinese government has been stocking up on BTC while simultaneously making more and more restrictive guidelines. He said that this has been happening for quite some time.
Once they feel that they have a large enough holding and feel that they can control the market enough, he feels they will back off on the regulations.
Topic: US Government Vs. Chinese Government and their impact on prices (Read 596 times)
U.S has more impact then china as the most of trade happens in dollars, but if China do something with Bitcoins other countries will also follow.
The Chinese do have a large impact on the price, however I think the U.S. is more important because most bitcoin innovation and commerce is coming out of the U.S. If the U.S. we're to ban bitcoin, but not China, it is likely the Chinese would sell too, and prices would be below 100.
chinese gov for sure
when they started to attack BTC, price would fall eventually
and many chinese user of BTC
when they started to attack BTC, price would fall eventually
and many chinese user of BTC
China in my opinion has more power over bitcoin. Because of its large user base.
I think it's very obvious who has more influence.
We all know that the recent attempts by various government agencies around the world to put a clamp on bitcoin has affected the prices pretty drastically. I'm curious as to your guys opinion on which government's actions have the largest affect on prices.
Obviously China and United States are the big two in regards to laws and restrictions that could massively help or hurt the bitcoin ecosystem. Which do you think has a larger influence on prices in the short and long term?
Obviously China and United States are the big two in regards to laws and restrictions that could massively help or hurt the bitcoin ecosystem. Which do you think has a larger influence on prices in the short and long term?
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