Bitcoin Forum

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???

do you think China is the only country in the world and Chinese the only people who were investing in bitcoin? and do you think they just stopped investing in bitcoin because China banned ICOs?!!

it depends on your answer to the previous question. if it is YES then it will take eternity because apparently world = China.
if no then just a short while before the FUD clears and the whales accumulate enough money and then cheap coins.

no...if anything the validate BTC by keep making pronouncements on it

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.

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.

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.

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$.

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.

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+.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

The price drop can definitely be largely attributed to the fact that China has banned ICOs as well as exchanges in China closing down because of regulatory pressures and concerns. However, it is not the only reason. The market needed an adjustment anyways.

I think now, most people seem not to be as concerned about China as when the FUD first came out, which is great and the primary reason why price is increasing right now.

This trend should continue into next month, and if the rumors clear out completely then we could be back up to $4500+ once again.

What China has successfully done is to slow down the process but unfortunately for them, they cannot stop it because whether they like it or not, their exit has created an opportunity for entry of another entity. What matter is that level will be reached with or without their input but we should not be unweary of their tactics as another attack could be around the corner.

I don't think so maybe China contributes/contributed a lot in this business but it will run without them. Even though price went down when China banned ICO's it doesn't mean that it will go down. Probably if affected a lot (market,trading, etc) but because of this,it opened a lot of opportunities for other countries to invest/trade.

The news coming from China crashed the market, but I do not think it stopped any kind of movement to reach a new all time high that had already stopped before the news, now how much time it is going to take for this trend to change I think that will depend on what the miners decide to do in November if there is no fork I think we can see another all time high in December of this year.

China is one of the major market for cypto currency. because of its ban in ICO and negative news about exchanges the market were easily would have touched 5k mark but after this news its now at 3900$ only. Thus, its finding it difficult after such news to keep up the pace and move forwards reaching at least 4k as a first target.

China may slow down the growth of bitcoin some how. But now the bitcoin over come all it's pressure.The place of bitcoin will never take by any altcoin. Now the price of bitcoin is not a accurate price of bitcoin which was in past. It may be high or low depond on the Number of users. But it value will not change Often. You can trust bitcoin blindly.

Let them do it if they want, if they want to shoot themselves in the foot like that they can do it, that will affect the price and the security of the network at same time, but I’m sick and tired of all this drama always appearing and reducing the price if it was nor for this we will probably reached a price higher than 5000 and maybe more, so lets get over this quickly instead of waiting months or years for the decision to happen.

The price was obviously halted due China scaring investors away with their usual banning bullshit, but the good news is, bitcoin showed to the world it's capacity to recover from threat in an amazing fashion. We are now past far above $3000 and in fact we have people dreaming with another double bottom to try to get cheap $3000 coins. The good news for the hodlers is, the MA has recently crossed and this is extremely bullish when it happens in the 1day candle chart. I have finally become bullish on the 1 day candle too. Let's hope we are at all time highs this month, I think it's very realistic to hit $5000+.

The current action of China on ICO and exchanges definitely have an impact on the Bitcoin price.  We can assume that it effectively halted Bitcoin in reaching a new high in the last weeks.  But it seems Chinese government action had already cleared that they are not against Bitcoin and just wanted to clean their country of noncompliant exchanges and possible illegal ICO that will exploit Bitcoin's popularity and take advantage by scamming people in their country.

Unquestionably. I'm not sure about the present run, that had to blow off steam at some point, but the zero fee exchanges brutally suppressed the price for years when it was ready to move up. Repeated optimistic moves by the West were shat on by China and then everyone ran screaming. I don't know why everyone was so obsessed with following China when it was so obviously fake. That was exposed when the zero fee exchanges were shut down and we flew.

i think part of it has to do with the position of china with regard to mining. bitmain owns most of the market for ASIC manufacturing. side note on that -- it's really interesting to see that they are only accepting BCH for their next batch of miners. it's brilliant: they are leveraging their market share to force retail customers to prop up the price of BCH.

chinese pools also account for a majority of the global hash rate; nothing to sneeze at there. chinese exchanges also helped to fuel the 2013 bubble, long before the volume manipulation started happening years later. back then, it certainly felt like huobi and mt gox ran the market. after gox was gone, huobi was who i followed for price analysis for the next 2 years. maybe other people got used to it, too.

Yes china has slow down the bitcoin pace, actually bitcoin is a very good pace when suddenly the news came and the price broke down, but now everything is back to normal, just hope nothing shocking come out from the China's government anymore

People are starting to forget about the dump as well as the Chinese bans right now actually, since the price is being bought up to around $4500 as we speak. I think that already people are coming to realize China isn't everything that bitcoin is. Even losing them completely is fine.

Right now we're going to test $4500. I expect some resistance that take price down to around $4300 or so before climbing back up and potentially even breaking the $5000 resistance barrier.

If there is a dip, buy it.

It will increase up to $4500 before November fork,or btc users already learned their lesson that already realised that btc will not lose its value even in any issues.

i think there is a good and bad effect that had happened when china banned bitcoin in their country. the bad effect is that the price of bitcoin from 5000 usd went down, since it is a fact that china still have a large population of bitcoin users, but i think china did not halted the pace of bitcoin reaching a new high since bitcoin, will surely bounce back again, and that is what is happening right now, with or without e chinese, bitcoin will still continue to grow. the good side that i see, is that, people should have learned their lessons already not to panic, whenever they hear a negative news, it doesn't mean that when one country is going to ban bitcoin, bitcoin will fall down, there are a lot of countries that supports bitcoin and china, doesn't control bitcoin, they may have a huge percent of bitcoin users, but not to the extent that if all sold out their bitcoins, bitcoin's price will go down drastically. i think in this case, china did not halted the pace of bitcoin, rather it just helped out bitcoin users, to see that there are still a lot of weak hands that are investing in bitcoin, i think now, that those weak hands have learned their lesson or probably do not want to invest anymore, what are left are those who knows how to invest and use bitcoin  effectively, and as we all can see, bitcoin is rallying back without china and for sure will reach a new high.

That is the current excuse but what it is going to happen when they control that? They are going to set their target in something else, they are going to try to regulate bitcoin to oblivion, or they may ban miners or ban bitcoin, it may not seem as likely to some people but at some point if the Chinese citizens keep using bitcoin to avoid government regulation then the final step for China is to make bitcoin illegal.

If the Chinese government want to bans Bitcoin's miner, I think they should not to do that. What is the benefit they will receive after do that? No money from the tax, no one wants to bribe them to avoid the law then do you think they should to do that? :-X

China's government is extremely paranoid when it comes to capital flowing out of their country, and let Bitcoin and basically every crypto currency be perfectly suited for that ~ that alone will justify a total crypto ban in their eyes.

I however don't believe they have such intentions. If they had, they would likely have already banned crypto years ago, because it was obvious that this industry is only going to grow further as years go by.

Important factor is that we shouldn't let ourself get distracted by China, because at the end of the day, Bitcoin is enjoying adoption throughout the entire world, where new countries are greatly contributing to current growth.

Yes, bitcoin was on bull ride and touching $5000 and then the news announced the next thing its dropped under $4000 and it took times again to reach $5000, people not really care about the issue, the problem is when will be the investor want to invest in bitcoin again, I predicted that most of the investors hesitating to invest because the government still want to announce another regulation regarding to crypto currencies

Yes, they have, there is no doubt about it.

The market is very boring right now. I have been trying to make some extra from altcoins but they are going down when bitcoin go down, and up when bitcoin go up, instead of the contrary.

So bored that I even not checking it anymore. Used to check each six hours, the price, how much I have in bittrex, etc, now is only one check per day. Just boring... bitcoin is dead, its all I can say.

I don't think bitcoin is dead. The market is just slow right now as you have said. Of course it should not be always bullish and you know that. Sometimes we hit something along the way that will pull back the price. As much as we want to really profit everyday, it will not be the case, that's why we need a lot of patience when doing trading. And for the China effect, yes, it may halted the rise of the bitcoin price, but is now over. They don't have that much influence on the price now. It's almost a month now since they have those announcement that significantly affects the market. But we already moved passed from it. So don't bother about China now.

Oh, it was just a manner of speaking, like when a engine won't turn on, so you say it's dead... by the moment.

Bitcoin needs some oil, some fuel... some good news to bring it on. There was only bad news recently.

I think the negative news from China is contributing to the drop in Bitcoin price. But I think it was due for a correction anyway. Something usually triggers a correction and I think several things did this time including the quick rise over a short period of time and the issues in China.

This price drop is just temporary and could last a few months or more before the price starts to rise to new highs. Some of the weaker investors are shaken out when the price drops like this and others take profits. Traders and more experienced investors will buy on the dip to get cheaper coins.

Maybe it is a correction to the price, because the negative news that china had brought surely subsides now or it may be a resistance with the value that is why it does a dip again and I think it will still increase until the Hard Fork occur so be sure to buy bitcoin before that happens and hodl for that coins because it is really sure that we can get free Altcoins when the Hard Fork is over.

yes I look this as correction the price and maybe we can see the price will often to up and down in next week because we are less than one month from November which is many of people say that in November, the fork will come again. and china has prevent the price to not going to increase more than $45xx because in September we are not reaching $45xx. but I have feeling that after the fork, the price will be increase. so if you want to buy bitcoin, I think you can do right now or you can wait for another down so you can get bitcoin with cheap price.

Chinese effect on bitcoin market was quite huge before but now people have already came out of those panic because of chinese fud. I don't think china will have same impact on market in future because chinese exchange platform were closed by governments now so they can't trade bitcoin or crypto right now.

Chinese monopoly over crypto trading is now over.

Do not underestimate the importance of China in the crypto economy. Due to the large number of Chinese users and miners they can at any time to have an impact on crypto market. Any monopoly is bad. If China banned the use of cryptocurrency do this will only benefit the community. But I doubt it. Too big the stakes that China has abandoned it.

Wow, never knew China's drop off of bitcoins would lead it to stabilize itself. I thought that most of the investors may have been coming from Japan and Korea after their biggest ever decisions on legalizing and accepting bitcoins at a greater pace by opening lots of shops in their country. Even Russia is going to set up mining farms to take part in mining operations and grab their chance.

we have to really keep China back and forge ahead as is seen they have really impacted the bitcoin price negatively even when we have not even see any significant movement by the Chinese government. I hope we would not allow this to keep the price on ranging trend for long. We should also forget the things behind and press on until bitcoin achieve the potential it was created for.

Back then it would halt the pace but not anymore has China does not have that much influence has it did, there is just so much uncertainty there and its probably flagged unfavourable but with countries such as Japan giving cryptocurrencies support I guess we have a new ambassador to push the price to new heights.

after what they did and see how they got some influence for a short time, i guess we or many crypto believers already made a wiser decision not
being trapped with such movement, china brings some downfall but looking now i can say that there's big players behind who will not allow the
value to fall deeply and begin to show that target will be achieved it will just taking some time because of this china issue.

It seems to me that the Chinese government has very accurately calculated the time and opportunities, used all this mess after making its decisions on the crypto currency, and today it can not be a winner ..

China is now loaded with Bitcoins thanks to all the newbies that dumped in panic during the great crash after the ICO+exchanges ban coupled with Jamie Dimon's FUDster comments.

Now they are ready for the market to hit new heights, and when we hit new heights, the market will be pushed even further because China will unban Bitcoin and it will pump to $7000ish and the technicals back this number.

Of course it did or else Bitcoin would have been $5k by now.

But the good news is there's no more bad news except for the fork. Everything is behind and now the only way to go is up!

For a brief moment yes, China's decision has halted Bitcoins price from reaching new record. But it was only for short period of time, because Bitcoin has recovered and now price is going up again. How long it will take to go above price before China, that I think no one know, but it is not impossible.
People has quite fast gone over what happened in China, and to be honest it was faster than i thought. But it will take some time before people totally forget about that event.

Definitely,china has halted the pace of bitcoin a little bit,otherwise it would have almost crossed $5,000 by this time.But still,it was not as expected by most that bitcoin price would fall down to $2,000 once again.Even some investors just waited for the price to reach $2,000 to buy.But surprisingly,due to the huge buy wall all over the world,bitcoin managed to recover soon.The only bigger threat for bitcoin,china is no more a threat.

If the amount they receive from miners in the form of taxes or bribes is less than the amount they are losing due to people moving their money more freely than with their national currency, then it is very obvious to me they are going to do it, to be honest I think it is a matter of time, I’m not trying to FUD or anything but to me that is the next natural step in the fight of China against cryptocurrencies.

It is hard to believe that the price of bitcoin would have crossed over $5000 if the Chinese government would not have intervened,either way the market would have gone down with any other news,there was more fake news surrounding the air regarding their actions and that made the market weak and with the fork coming up ,the price is increasing and i expect that to increase till the time of the fork and if that help in crossing the $5000 barrier then it is cool.
I am curious to know how the price will move after the fork as 2x split coin will have a big backing from corporates.

China did not halted anything the bull run had stopped some time ago, now we are moving sideways with a small dump here and there thanks to rumors and stuff like that, China FUD is nothing new, the longer you become part of the community the easier it is going to recognize those FUD attempts, and about how long it is going to take go even higher in the price, until the lightning network is operational.

Yes. FUD is everywhere thanks to them. I really felt that people are panicking and again like the other events, those trolls are very active to spread that btc will be dead sooner....again. It's not bad at all if you are a buyer because it gives others another chance to buy at a lower price.