Bitcoin Forum

According to Molly, former executive director of Bitcoin Magazine's China operations, the term "halving Bitcoin" in Chinese has recently spread on Weibo, also known as ‘China Twitter.’

This topic, which has been the 6th most searched item in the past 24 hours, shows genuine interest in the event, although China prohibits the purchase of Bitcoin by the yuan
And the same thing is happening all over the world.

Google Trends data shows that last month, global Google users searched for more halving of Bitcoin than any other month. In April, the world's largest search engine also predicted halving Bitcoin would be searched more than twice as much as last month, which was a new all-time high.

This is a bullish signal for Bitcoin because the important reason explaining the increased cryptocurrency market so far is hype around halving. Indeed, according to Google data, the search terms "buy Bitcoin" and "halving Bitcoin" have been in a parallel pattern since the beginning of the year, including growth and contraction. This correlation is not perfect, but they clearly affect each other.

How do you think about this

Lol, is this the first time that Chinese heard about halving? I doubt that, remember majority of the miners are in China so they have long been waiting and anticipating the block halving. Google trends? of course, everyone is at home, so obviously, the search will spike. I doubt that this will cause the price to spike prior to halving, everyone has been accumulating specially 2018-2019, so the price is already in. Maybe this is a bear trap, no expert in trading, but I'm not comfortable seeing the price going up like this.

China will not be the cause of the rising price of Bitcoin...
China will only cause Bitcoin to get worse, I have no respect for China. *walk out  :D

At least show us some links about the news or an article supporting the claim. If I wanna expect a bull run that may happen by 2021, that's more realistic I guess but no one really knows, all of it are just speculation.

The usage of the keywords "Bitcoin halving" had increased in popularity only because the BTC halving is coming and the group of bitcoin supporters in China is discussing that event more often.That doesn't mean that the total amount of Chinese people,who have bought and are currently using Bitcoin and other coins increased.The so called "China Twitter" is just like the original Twitter-lots of spamming,pointless discussions and gibberish(and a little bit of censorship from the Communist party). ;D

Only through third party services. They're all forbidden. As far as I know there's nothing stopping people from doing it P2P. However they may well be able to stop that too when their digital currency gets going. They'll have total control over all spending at that point.

The less China the better in my opinion.

Give the OP a break, maybe he is just excited about that event. However, I would agree with the rest of the guys here, China is just one country here, and to be honest, we all know their anti-bitcoin stance so I doubt that they are going to be the first entity to push the price or start this bull run before the halving. As for the keywords "Bitcoin Halving", obviously, as we get closer to the date, there will be spikes but it doesn't equate that Chinese are going to invest on it right away. Let's wait what the world economy is going first because of this Covid-19 pandemic before we can speculate a bitcoin bull run. Because as much as we downplay the pandemic, it still has some effect to the market.

There's a hate to them but we can't deny that they can really pump the market especially bitcoin.

Well, China made a digital yuan so I think people in China are creating a hype with bitcoin so they can earn more money which we can also benefited on that. I don't care that much to anyone because I'm more focus on the price movement of bitcoin and we should keep watching it until the halving day.

So that's what why have we seen sudden pump on yesterday?  We know halving coming very near and more users are becoming aware about it. In a result they are try to to know more details by Google search what I did exactly when I meet with halving word first time. That's how start google trending regarding halving. A big part of bitcoin user believe that bitcoin price will bump during halving, so either China become excited or not it doesn't effect on halving trend I believe. But this is true sometimes few rumours push bitcoin price for short time (but not depend on). So nothing could say before it happen.

Um, how? They don't have any exchanges.

I'm sure there are a few disguised Chinese whales on Huobi and others but the real influence China had back in the day was their piece of shit zero fee exchanges. The rest of the world followed them slavishly despite the entirely of their market being 3-4 teenagers with bots most likely.

I doubt we would've had the 2017 peak if they hadn't been put down.

I don't think people will focus on hate to china after all we need demands especially when halving case, Those things will fade out once their are good things happening in the market and we all know that Chinese have the capacity to do this and I'm actually glad that they are in good shape right now since it means that we can see a good market flow since.

Maybe in other aspect people will hate them since they are blamed for the current pandemic happening in the world.

Isn't binance a chinese exchange? There must be some exchanges in Hong Kong as well. Ofc there are chinese clients all over the world as well, like the miners for example.

But anyway, I don't think there will be a huge price spike in a few days after the halving.
Halving is already priced in.

I expect some volatility, and maybe in long term (about 1-2 years) a price spike due to the smaller supply. But the market won't "fell" that smaller supply in day 1. Imo.

In 2019 I probably searched about the Bitcoin halving at most 4 to 5 years. This year however, I duckduckgo'ed it more than 20 times already.

I don't know if the trend of "Bitcoin halving" searches are significant in any way. I guess I did influence it too and most of us here are surely searching it more often than in the past 4 years. The halving itself is (or at least should be) bullish, but trends are just statistics for me and don't show much.. at least not about the market sentiment.

The owner's Chinese. If he started serving Chinese customers he would be disappeared. There are no mainland Chinese exchanges any more. They're not allowed to operate and banks aren't allowed to deal with them.

I'm sure there's plenty of OTC activity but that doesn't directly influence the price like exchanges do.

How about Huobi? Because I remember in a few years ago before the first halving, Huobi was a place for Chinese traders to buy and sell bitcoin. Although they don't have any exchanges, at least, the traders from China can trade in any exchanges.

But if the price can rise before halving, then I think many people will wait for that time, and I am sure they will surely prepare their bitcoin in the order sell at the highest price.

Many people can spread the news about bitcoin will rise, but we don't know the right thing about what will happen later so I think we can prepare by ourselves, and we can calm down for anything that can happen later.

Obviously the OP is excited!  And let's face it everyone is at a different stage in their understanding of Bitcoin.

But we all knew about this halving event even back in 2009.  Every 210,000 blocks the reward will be halved.  Blocks are roughly 10 minutes apart.  Do the math.  You can pretty much say when each halving will be within a few weeks. Although I must say there have been some interesting events that altered the block times significantly for short periods of time.

This halving interests me from the perspective that it will reduce the Stock to Flow ratio from 4.6 to roughly 2.3.  Stock to flow ratio on Gold is roughly 2.2. So essentially the new production of Bitcoin will be roughly equal to that of the new production of Gold through Gold Mining worldwide.  I find that interesting and it almost makes me wonder if Satoshi Nakamoto specifically planned it that way. i.e. for Bitcoin to equal Gold in Stock to Flow Ratios after the 3rd halving?  I don't know I guess lately I've been reading up a lot on "Money" and all the various forms of it throughout history and how the stock to flow ratio affects how "Hard" the money is etc.  Satoshi was certainly no stranger to finance and I have to say the more I learn the more I admire Bitcoin and him.

Anyway... halving just around the corner... Woo Hoo!  ;D

Same as Okex. Chinese origin and probably owners. They moved out of China to keep going and would have a bad time if they ever attempted to move back into it. Huobi in particular seems to be where hacked and stolen funds end up so I've no doubt there are tons of Chinese folks in disguise there as well.

Right now is a great time for speculation. Main question is who would win bulls or bears?

Positive trends in the two halving periods are always sweet. If you research after halving, there is litle correction before flying high. But looking at this month the influence of Covid 19 makes a little different the price of bitcoin is falling deep. This deviates from the trend of two periods before halving. So bearish or bulish, I can't determine yet.

the reason why search if term for halving is growing its because halving is approaching but i dont see a reason that it can cause  bull run when no action is taken by the public  .

you also said that purchasing bitcoin is restricted on china ? if yes then why we think it can cause bull run ? and you said this restriction happens too on all over the world  ? well i dont think so  . many countries are now actually legalizing bitcoin  .  this can still give encouragement to us existing bitcoiners  even if no changes on the price that can happen 

I think that the data is too limited to jump to conclusions. It seems natural that since halving is getting closer, more people are remembering about it and checking out how Bitcoin is doing. Some might even be considering buying Bitcoin due to FOMO. However, those who are just searching 'halving Bitcoin' might actually be interested in when it happens, what it could mean for miners, or expect to find information about something else related to halving. These people might not be interested in buying Bitcoin is what I am saying. So I would avoid making price speculations based on this.

You can not deny, this is now the reality...
although there are many Chinese residents, there are only a few who are interested in Bitcoin, more enthusiasts from other countries. we have long seen the change in the price of Bitcoin is real because of decentralization, meaning without any reason, but why do we discuss as if China is a country that can affect the price of Bitcoin.

Do you think that the current spike in btc is artificial and bitcoin will dump, then it is Bull trap, not a bear trap. I can't say with surely where bitcoin will dump on halving or pump, but in the long run bitcoin will pump big. By the end of December 2020, bitcoin will surely cross 20,000$ and then 2021 will be a great year for bitcoin.

I have visited Weibo with the help of a Chinese friend and the situation doesn't seem to be as big as what this post wants to portray.

The Chinese are always there for any money-making opportunity, no doubt about it. And bitcoin seems to be the perfect fit given the entire situation of the world's economy. Putting money into bitcoin right now before the halving craze would be the best thing, though I doubt that actual price will rise almost immediately since looking back, halving never really took the easy way up.

It could also be bots 'tweeting' things re: bitcoin halving on Weibo in order to ring bells and make it look like the Chinese are organically recognizing bitcoin already and not just the few techie people that are already engaged in bitcoin-related activities.

More press for bitcoin is always a good thing particularly if it is positive.  The halving isn't a negative no matter what, a decrease in supply with a constant or increasing demand will result in higher fiat prices. 

Any adoption by the people of China will help both bitcoin and the people of China.  It will help them protect themselves from the collectivist who are intent on controlling them.

I feel like their government has a way of turning any positve news regarding Bitcoin into a negative one. Their exchanges manipulated the volume and focused on wash trading and their FUD tweets about government trying to do this or that are the worst.

I have just one question. How are the Chinese going to pump Bitcoin if trading is illegal and there are no exchanges?  ;)

What I think of the spike in bitcoin trap is due to other market condition, stock and oil market is down as of the moment and the only market working good now is the cryptomarket, So there at least be less doubt why bitcoin is getting increase by now. About the halving, as it gets near to happen I am becoming more skeptical about it in a way of thinking that what would people be buying in crisis like this? Necessity or asset?


Stop with this, we already said this last 2019, actually we always says this if it is no getting great.

The key is one's time horizon.  If one is saying "the next few weeks/months" are going to be great for bitcoin's fiat price, one never knows.  Ditto for even the next year.  No one really knows.

If one is talking about the technology, every year has been a great year for bitcoin.  2020, 2021, 2022 will all likely have great advances in the tech and the applications of it.

Again, the key is that long term, the technology is important and the fiat price will likely follow advances in technology and usage.

All BTC forums are flooded with topics like this one. Most of cases -someone just wants his theory to be confirmed, which is far from real investigation

I'm nit disown that now Chinese have something that can change the world. Especially in my country that has a lot of corporation with Chinese and even our country tend too dependent on Chinese, I think this is really worst, why always them.

And now in bitcoin/crypto currency as a whole, Chinese give a lot of thing for crypto space. If there is several news who stated about bitcoin/crypto currency in Chinese then we will see the speculation to the price spreading the market.

Apart from that, I just hoping that there will be an adoption against crypto currency especially from the merchant who can use it as payment system. I just bored, when bitcoin reach high price but it was just for a while. The people tend to use bitcoin as an income, it will be different if mass adoption comes, I think we will never see the dump when it getting pump.

The whole community will be responsible for bitcoin price increase either before halving or after halving, which case, bitcoin is up already. China won't be responsible for bitcoin rise. Mind you, the Chinese are well informed and are in the knowing about the bitcoin market.

It depends how you look at things. As a long term holder I watch months not days, so to me Bitcoin is barely back at the level it held in December and January. It's really nothing special and I wouldn't say it's up in halving terms. If it could reach more than 10k USD a year before the halving, it should at the very least be there now.
If we don't see 10k in the next 3 months it will mean Bitcoin is underperforming, but it's to be expected with all the shit that's going on in the world right now. 

Nowadays, it is very easy to manipulate people, especially through social networks where individuals earn very well by posting some things that always attract the masses like kids are attracted to sweets. But in this case, the whole thing is completely irrelevant, because it's China where crypto cannot be legally traded, so it's not available to the masses. Therefore, any assumptions that China could have any influence on price have no basis, and we can classify them as pre-halving media stories.

As another important thing (for those who have short-term memory), price of BTC is just recovering because just over a month ago it was above $9000, and the announcement of the pandemic caused a sharp decline. In the next twenty days, a real flood is expected in terms of halving articles, which some consider as starting point of a new big bull run.

I thought china already ban crypto so how will china have influence on the rise of the bitcoin. I think the bitcoin halving is trending because it is very near and this might probably make people wanna hodl bitcoin just like it has been said that people are using their stimulus package to invest in bitcoin and bitcoin has been increasing in price

Meanwhile, we need to satisfy with the price now because of the price still below than $10k. We can buy more bitcoin if the price is down so we can have a chance to make a huge profit. I don't know if China can help the bitcoin rise, but I am sure that with or without China, bitcoin price can increase. We almost see the halving moment, which still a mystery for us to know if the price can increase higher or not. But if we are using bitcoin for a long term investment, then we can see bitcoin price will be at the highest price in the future.