Bitcoin Forum

13th April** price of 1 BTC was around 53K EUR and on 21st June it was around 26K ...

and it's no secret that during these two months, the main news (technology) focus was on CHINA...in fact China has been on the spotlight for quite some time now...

and recently I've watched on Youtube that they are doing their own "NASA" type stuffs on their own up there...

I kept thinking what's the point in all this? I mean I get it about being on their own and have control over things etc... But what would the future look like...

Hey mate , please correct 13 June , it may be 13 April when bitcoin price was around $53k and recently severals sad News crashing bitcoin a lots. After two months Bitcoin price crashed half of Total price.

Done! cheers mate

And one year ago, the price was under 10k USD. We know that Bitcoin price is highly volatile.


The focus was basically on Elon's tweets, maybe El Salvador too. China news were 2: the coal mine accident(s) and the alleged new stop of mining in China.
The fact that some want all the eyes turn in that direction and cry about that on any channels possible makes me, at least, pay less attention to it and you should too.
However, I couldn't follow completely your logic, so maybe I'm wrong.
But I wonder how you didn't wonder how future will look when you bought your smartphone (for example) made in China, but you wonder now after these news...
I wrote somewhere else too: moving mining out of China has 2 benefits: decentralization of mining and less food for "bitcoin is owned by commies" narrative.

So true. The narrative of the people that have been putting discussion that it's very discouraging to see the correction that has happened doesn't look back just for a year. We're still good if we compare that to the last year's chart. But it's really disappointing for them to see that the market fell from the peak that it had made. They should start accepting that whenever bitcoin reaches the all time high, it's not staying there for long because everyone will start to sell and we have to take profits when it is needed.

Listen mate , when there is a dump next pump will come.
So will happen to BTC, these downfall are slightly hinting towards a huge price high of BTC.
You can practically also think this practically that, as the price is down, many people are Buying BTC now, so this will make the demand of the coin more and supply less.
Hence the price will automatically rise in the near future.
Now waiting for other members opinion on this theory of mine.

What do you mean by doing their own "NASA" stuff? for sure they have been doing this for many years because they wanted to be ahead on this technology race with the US. And what does it has to do with bitcoin or crypto though?

I can't say what will be the future, but for sure, bitcoin will still continue with or without China's influence, specially bitcoin mining.

I checked the exchange rates, and now the price is  €28,611 per coin. And this means that Bitcoin has gone up by 10%, from the time OP made his post. This is a good sign, right? If you are investing in Bitcoin, then you need to deal with correction phases. Because they occur very frequently. Sometimes they may last for a few days, and on some other occasions (such as the case in 2015 and 2018), they may last for more than a year. But the important thing to note here is that Bitcoin always manage to hit a new ATH after these major corrections.

What did the future look like every time Bitcoin dumped heavily from the top? Bitcoin died so many times it's still alive.

The world is wrongly focusing on the bad influences right now. Today, it's the billionaires playing the markets as much as they can, while they still can. The day will come when they will not have this much influence no more, but unfortunately there still is enough time ahead of us until markets become stable and hard to move.

With decentralized currencies? The future will look great.

Let me correct it for you: 9 years and a few months after, BTC went from 0 to 26k euro.

In the end, perspective matters. Don't look at one side and ignore the others. This kind of whining always happens, why don't we learn after we've literally seen this in the past. Went from $20k to $3k, from $2k back to $200, and so on. In the end, if you can't face it then don't join the market, no need to trouble yourself with additional stress everday.

People just don't see the positive; they are after the negative and FUD all the time. As we know, BTC's price is hugely volatile, I wouldn't be surprised if BTC was $20k now. In fact, I was expecting that to happen within June but sadly, it doesn't seem anymore possible in June though.
Just have a look at BTC & GOLD price. BTC is still 3.4x in YTD.
It should have happened regardless of this China FUD or any other factors.

Instead of discussing the benefits of Bitcoin all day long, how about finding a professional analyst to help you solve it? If you don’t know how to buy, you can send me a private message

Nice segue into your services, you might want to stop doing that as it is highly likely that mods will see your post and delete it.

Regarding the prices going down, the prices has recovered back the 33k again which is pretty awesome but at the same time, I think that bitcoin will be going much lower in the next few days.

bitcoin is now in many problems and challenges, many millionaires and countries now hate bitcoin there are even countries that directly prohibit bitcoin mining, such as china, which is strongly against bitcoin, and the tesla company does the same, so do elon musk, and donal trump who openly said bitcoin was a scam, so the market began to shake, and the price was unstable, but I'm sure bitcoin will recover and in the future the price will slowly rise again..

The future looks gloomy if people would always react to China news as if everything depends on them. The constant focus on China by the media is misleading and is giving the impression to a lot of people that it is the most vital part of cryptocurrency. That is wrong of course.

The only way we could do away with the impact of China is to remain strong despite the negative news coming from that nation. If China bans mining then we should not sell. It is exactly the panic reactions that cause the price to fall.

Right from its inception, China has always been at the center of the news as regards Bitcoin and cryptocurrency, take the 2017 bull run, for example, everything was going well until China announced its restrictions on cryptocurrencies. China is the biggest crypto market so any news from China, either negative or positive, always affects the entire market.

You are comparing the price of bitcoin in two months while actually, you can see the difference when you check the price in long term. ~ 1 year ago bitcoin was trading under 10K and now it's more than 26K, no matter on what market you can working, gold, stocks, etc.. the price can not rise non-stop everyday and there should be some price falls, that's how the market works. China banned bitcoin because they know bitcoin as the enemy of their fiat money and local stock market, in the other hand, some people are doing money laundry using bitcoin. However, if you know how exactly bitcoin works you can understand this can not be blocked by any governments, there will be only some negative emotional effects between the investors and traders resulting the price fall, that's what happening right now and that's totally normal to see even lower prices.

Bitcoin makes 3 steps forward and then 2 steps back, that's how the price cycles seem to work. So I wouldn't be surprised if eventually the price falls down to $25k or something. But even with these huge correction, the overall upward tendency is pretty obvious because there are fewer steps back than forward. People are now unhappy to see $35k per Bitcoin, but it was a dream to see the price go so high, say, a year ago. The first bullish market can be emotional, especially when it's over. But it's my second round (I got my fair bit of emotions in 2017-2018), so I truly feel calm about all this.

This has been posted many many times but:


If you sit there and worry about the day to day / week to week / month to month price then you are not cut out for trading.
Bitcoin will go up, bitcoin will go down, but overall it keeps climbing in price.

-Dave

We need to face the reality that bitcoin is highly volatile. Remember that back to 2009 it has no value but now it reach up to $53K and the ups and down of bitcoin already happened many times. So, let's those can hold for long term to hold tight and let the weak hands sell their bitcoins, whales are waiting.

Ok first, I have no idea why Bitcoin was even included since the main topic you're pretty much asking is why China is, well being China. And afaik the most related news of China with crypto was about them banning crypto mining again for the nth time. Ngl, let China be China, and we'll let the crypto be crypto. It's not like crypto is dependent on China, and vice versa.

As for the price, look at the longer-range man, not on whenever you want. That's a biased judgement on the development of Bitcoin. At least make it a yearly comparison instead of the peak vs the current. It's called a peak for a reason you know?

Everything happened so quickly, and I feel like I squandered an opportunity to profit by failing to take all of my assets. I believe it is due to the manipulation and misinformation that has occurred in the crypto community, rather than our own guilt for losing money, yet everything happened in the blink of an eye, even the surge of BTC to $60,000.

China's issue regarding crypto was long ago and Idk why it is still an issue where the BTC is already going up, i really smell manipulation, whales enjoying the profits.

Bitcoin is not the cause for this.The ultimate cause for the thing is dependence and demand in the market.Demand play the control over the bitcoin price changes.It's not the reason by the particular person.Even the bitcoin creator Sathosi is not the reason for the flow of such prices in a very short time period.

It went up to $60k, mate. Then goes down to this level. But then we cant prevent this kind of market move. After all, this is cryptocurrency where the prices are volatile. Lets think it in an optimistic way and do more accumulations by buying more bitcoin with this dip.

Its not the matter of time actually, if we review previous history we can say that this movement is nothing compare with those previous charts.