Will China start Altcoin Season - page 3.

samcrypto

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Quote from: Inu.Guren on October 28, 2019, 03:29:17 PM

for this moment i don't think Altcoin can make any big movement because now the time for bitcoin growing up and altfoin are following later.
maybe china regulation make big effort in cryptocurrency movement

This is the normal scenario where bitcoin pumps first and then after that altcoins will follow. Some altcoins are already bouncing back from a big fall, they move slowly but surely and when the bull hits bitcoin they will start to show their true potential. China can make cryptocurrency great not just bitcoin but the whole crypto market.

IvugeoEvolutionCoin

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Quote from: jamesashmore1964 on October 28, 2019, 02:21:35 AM

I hope so!

In my opinion many Chinese are feverishly opening accounts right now to invest
Chinese search engines are reporting the Chinese are searching this topic feverishly!
If these guys start investing in the projects that are on the Chinese list of preferred projects I don’t need to tell you what will happen.

As an example, I am invested in Cardano and it is on the list and they also have a solid presence in China

https://www.tronweekly.com/iohk-bringing-cardano-ada-closer-to-chinese-market/

I am not telling you to buy Cardano it is an example. There are many projects on the Chinese preferred list.

List is here:

https://news.bitcoin.com/china-rankings-37-crypto-projects/

The Chinese influence on crypto is clear due to the current market price movement. I noticed some Chinese projects like NEO really soared well recently, well let's not get so excited anyway, the market is unpredictable.

Hippocrypto

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Quote from: LouVandetta on October 28, 2019, 03:30:35 AM

I surely hope so, after they announced that China's adoption on blockchain, we've seen a great price ups not only bitcoin, but also altcoins. Just like the old days, china took a great impact in cryptocurrency. Even with only a simple news, be it bad nor good news. We'll see that later, what will become of our community after china's decision about cryptocurrency.

For now I don't consider that as great price, maybe we've seen it as an amazing walkthrough of the past recovery. The impact is somewhat surprising for everybody and yet altcoins was still dependent on bitcoin's price growth. We can't say it's the final words to say, what's important now is that China now is setting good examples not just to their people, but also for other countries whose still plans to adopt cryptocurrency.

Duzter

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China is a big market for Cryptocurrency, during the early days of bitcoin into usage it is the one that contributed big. Further things changed, and in the meantime China got into controversy of banning cryptocurrency usage. This caused small crash in the market, but that was temporary as people continued to use. Also the majority of the mining process taking place in China made it a big contributor for bitcoin. Now once again showing green flag for Cryptocurrency through blockchain adoption gives hope for an altcoin season.

Mianae

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This will kick start the new alts season. Neo a Chinese cryptocurrency has done almost 100% in the last 48hrs coupled with other tokens which has seen some price growth since Chinese cryptocurrency news broke out. The trend is reversed hopefully

nanaimogold

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No way, I think China has done its best in boosting cryptocurrencies(Esp China based coins like neo, TRX, ontology, and so on) the last few days after President Xi Jinpings announcement. Next move is expected from USA. Maybe that will trigger the bullrun.

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Quote from: prehisto on October 28, 2019, 03:37:15 PM

As far I understand, there is no solid proof that Chinese people will be allowed to invest in ICOs or cryptos in general.
The high official said that blockchain has potential and should be developed, this does not mean that the they will allow to invest in projects from abroad. There is slight indicator that some are taking these news as you said, the indicator is that NEO had good rally.

Have you read about or heard of the Chinese new year festival? During time time of the year that thus festival is being celebrated, there is usually an adverse effect on cryptocurrency, because the Chinese will be on a break by then. This is a proof that the Chinese invest in crypto.

Classica35

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I so much respect the Chinese when it comes to investment. You would have known he influential they are, by the time to notice their presence on a project. A project that seems not to be well known, starts gaining recognition.

prehisto

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As far I understand, there is no solid proof that Chinese people will be allowed to invest in ICOs or cryptos in general.
The high official said that blockchain has potential and should be developed, this does not mean that the they will allow to invest in projects from abroad. There is slight indicator that some are taking these news as you said, the indicator is that NEO had good rally.

Inu.Guren

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for this moment i don't think Altcoin can make any big movement because now the time for bitcoin growing up and altfoin are following later.
maybe china regulation make big effort in cryptocurrency movement

voteformeg

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china is an ever growing economy and there was a time that i was scared that they will try to ban the whole cryptoscene but as i heard the last day their voice is very important and they give crypto a good boost

bvg96634

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This is great news. I think China will be a huge push for cryptocurrencies. I would really like to see the new altcoin season. I hope China can do this.

ableh

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Quote from: cotton ball on October 28, 2019, 07:37:49 AM

Quote from: albrots on October 28, 2019, 02:40:24 AM

China greatly affects the price of bitcoin or altcoin at this time. If the Chinese had started to make a list of what altcoin they wanted to invest the price would go up. Evidenced by the price of bitcoin which is currently rising, it is because of the positive news coming from the president of China. Chinese President Xi Jinping said his country must take the opportunities provided by blockchain, the technology that supports bitcoin. because blockchain technology is very useful and can be developed even better.

https://www.coindesk.com/bitcoin-jumps-12-as-chinas-xi-embraces-blockchain-boosting-crypto-sentiment

We can't stop how China make bitcoin and altcoin price become higher just one moment, where bitcoin can growing up with short time and China will make altcoin on higher price too, when China announce for adopting altcoin as legal payment I think price altcoin will grow up, but China will selective for which one altcoin have to make fly to higher price.

You forget the two things that often happen in the crypto space "fud & fomo". Even though you think only a few altcoins that will rise high, but the fact is the price increasing can also happen to all altcoins including shitcoin although. Why is that? because in crypto space there is too much fud & fomo which basically can influences the psychology of traders. Just look at the history in 2017!

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Apparently China has been seemingly postive about blockchain technology. This has definitely had positive impacts in the cryptocurrency market; from the president's vocal support of blockchain technology to the blockchain technology friendly law. It is very likely that China could as well set the ball running for the altcoin price rally.

Ferris419

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I don't think china's crypto endorsement will make the altcoins season begin! Only a project with higher trading volume and working product will remain strong and will grow, not every alts! I think China people entering in the crypto for buying Bitcoin, NEO, Ethereum, EOS and so on good coins, it will make the reputed altcoin price grows, not the altcoin season!

imunk

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Quote from: nakata121 on October 28, 2019, 12:33:30 PM

I think so far the state of China has only banned bitcoin mining, and have not prohibited the application of blockchain technology, some time ago of course we have heard news that the Chinese will make their digital currencies and of course the news shows if China is indeed developing crypto and Blockchain in their financial technology in the sense that they do not completely prohibit the development of crypto in their countries.

Maybe China want to make they own coin and block other's so they can get big profits or protect they economy from Foreign Coin.

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Quote from: Tilbrook007 on October 28, 2019, 07:32:13 AM

Quote from: tinyteapot on October 28, 2019, 07:19:44 AM

This is not really clear, the statement attributed to the Chinese President Mr. Xi Jinping, refers more to blockchain technology and does not directly refers to any existed coin or token though, the effect of chinese fully back to blockchain shall be positively felt by all existing coin.

Some Chinese companies might become whales in the companies listed: I understand what you are saying and there is truth in what you say but it's a wait and see at the moment. A Chinese bank just bought a major crypto wallet.

At least it's better to provide any evidence about that. As far as i know, if XI is only stating about blockchain and crypto is not getting mentioned on his statement.
Just because a chine bank bought a major crypto wallet doesn't mean china will be the next crypto house.
And can i ask you about what company? It looks like some of your words are not in topic.
I feel curious what do you mean about whales in the companies listed? that sounds weird for me

nakata121

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I think so far the state of China has only banned bitcoin mining, and have not prohibited the application of blockchain technology, some time ago of course we have heard news that the Chinese will make their digital currencies and of course the news shows if China is indeed developing crypto and Blockchain in their financial technology in the sense that they do not completely prohibit the development of crypto in their countries.

Sahyadri

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Quote from: jamesashmore1964 on October 28, 2019, 02:21:35 AM

I hope so!

In my opinion many Chinese are feverishly opening accounts right now to invest
Chinese search engines are reporting the Chinese are searching this topic feverishly!
If these guys start investing in the projects that are on the Chinese list of preferred projects I don’t need to tell you what will happen.

As an example, I am invested in Cardano and it is on the list and they also have a solid presence in China

https://www.tronweekly.com/iohk-bringing-cardano-ada-closer-to-chinese-market/

I am not telling you to buy Cardano it is an example. There are many projects on the Chinese preferred list.

List is here:

https://news.bitcoin.com/china-rankings-37-crypto-projects/

A country where cryptos are out rightly banned, will bring an altcoin season? I highly doubt that.
Just one statement by the president about blockchain means nothing at all. Crypto space has gone unaffected (both positive and negative) through many such news.
The thing to notice is that Chinese are involved heavily in OTC crypto trades which goes undocumented. That doesn't really affect the market price as such. So increase in searches doesn't mean that altcoin season is upcoming.

xiboothrezi

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Quote from: BlackFor3st on October 28, 2019, 07:50:54 AM

This is a great news as it can really help the crypto society to grow more and the investors will be widen especially that China has the most number of millionaires right now in the latest news as they overtaken the US.

And I like their list as they put Ethereum as their number 2 but still I am not that confident with their first choice but I love to see also whether their choices will affect the grow of EOS investors as they put it number 1 in their list.

ETH is still the best choice

Whatever it is, with this list, most people will also be affected. Moreover, China is very open to cryptocurrency, the effect is quite large. The Chinese government is also very concerned about the news circulating related to cryptocurrency, this is evidence that they also focus on providing education to citizens about this new technology. See? the Chinese government is serious about this, so the list given as a suggestion cannot be underestimated. With news and rumours, we use to take profit, hopefully, this is the beginning of the bull run.

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