Bitcoin Forum

why after the Chinese government forbids ico, the state of the market so immediately changed, whether the influence or the relationship between china and decision

it's a panic in china that ICO is now banned, for now the price in the market will be slightly down just for some time. all will return to normal in the future

- why did price fall after Chinese public bank said they want to inspect exchanges that were working illegally and laundering money?
- why did price fall after Chinese government suspended the illegal websites called exchanges that were doing a lot of shady works!?
- why did price fall after a small percentage of miners started supporting Bitcoin Unlimited?
- why did price fall in July before the upcoming fork of bitcoin (the SegWit fork)?
- why did price fall after halving?
- why did price fall after bitfinex was hacked?
- why did price fall after Mike Hearn said bitcoin is dead?
- ...

and a lot more whys? and the answer to all of them is one thing: FUD and idiotic panic

since a long time ago ,china is always full of controversy over anything related to cryptocurrency.
somehow many people fear if china give a warning.
whereas a few years ago Bitcoin was also banned in China.

actually there has never been any controversy regarding China and cryptocurrency! but for some reason people love to turn anything that comes from China into one.

in reality China is doing what any other country has already done or should be doing. they are protecting their people from scams!

It's just general panic in the cryptocurrency ecosystem. Anything that has to do with a ban is going to trigger people into selling, even if has absolutely nothing to do with Bitcoin.

In fact, this is actually good for Bitcoin. Once the market realizes the fact that this event is not relevant to BTC, all the ICO money is going to go back to BTC, not to some hyperinflating fiat, so just hold and buy the dip, and dont be the one that falls for the FUD.

this is great for new innovations in ICO cryptocurrency ,
developers can make good innovations in the future to convince investors. lately there are many ICO Scams. as a country with high technology , china should make regulation about ICO based cryptocurrency.

I think it might be good for new positive legitimate innovations in
cryptocurrency and hopefully they will be able to get proper investments.

The only thing is we dont necessarily want "regulation" but if we
as a crypto community cannot regulate it ourselves, then this will happen.

as of this time, the ICOs were temporarily ban from China, the reason is they are still filtering out on which them are scams and which of them are legit. This ban is not permanent so let's wait the right time for the lifting of the ban. As the ICOs were restricted momentarily, we will experience some lousy trading activity of cyrptocurrency and some will panic about the outcome of this ban but the truth is this is just a temporary, few weeks from now crypto trading will be back to normal, so just relax and hodl on your coins.

It's just a panic situation in china right now because of the regulation. The people in china afraid that thr government might chase after them in trading crypto after this. Things will be back to normal in a few weeks.

Love that prices are low but hate that it's because of a supposed Chinese ban on ICOs. China had banned Bitcoin for periods of time and people in China still utilized it.

China will probably revert its decision to regulate ICOs without banning them. This will just remove all Chinese scams that are polluting the ICO market with totally abrasive performance promises, keeping only the ICOs actually viable. The current decline is only the result of a panic sell of the most frustrated investors. Perfect, the cryptowolrd does not need them.

Its normal for things to decline after bad news.

Here's a chart of the DOW (US stock market average) after jetliners crashed into the world trade centers in the attacks of 9/11/2001.

http://i66.tinypic.com/2djo135.png

There may not be much of a direct relationship between tragic & unfortunate terrorist attacks and stock market performance.

Bad news may not need to be strongly related to have an impact.

With such a small user base, such negative news can indeed bring a crash in cryptocurrency market. There are so many noob investors who can easily get panic. China is indeed the biggest market for cryptocurrencies and such news definitely would have negative impact on the market. Also, lately market was being pumped. Thus, correction also intensified the crash. Market will recover soon. Such crashes in between pumps are definitely needed.

How this ban might affect the market? The Chinese government can do with the users who will trade and hold stocks on exchanges and wallets such as Japan? The Bank account of the user from China will come the yuan. China wants to ban circulation of the yuan?

Earlier this year, the People's Bank of China made news by suspending operations of some exchanges. That temporarily pulled the price down, but was by no means able to stop bitcoin from reaching new highs. Now another news from China pulled the price down again, but this should be another of those times where bitcoin would recover quickly. If anything this should favor bitcoin since most of the funds should revert back to bitcoin from those seeking a stable and safer haven.

this was mostly good timing. you can almost call it coincidence.

after the big bitcoin price rise of late, there was an urgent need for a correction. so it happened, like always and price came down a little in the first day ($4500). but then the news about China came out and the FUD machine started up and the panic began ($4001) the day after the correction was done.

and now it seems like market is recovering pretty well.

China banning stuff...again and again.
China has been banning things since 2013 and it's the same old story.

They ban something but the law is not clear and in fact they haven't banned anything but they plan on banning something.
In two week we will hear that tokens are legal in China and the news was a mistake and in two more they will be banned again.

Rinse and repeat. In the meantime you can start buying some even if you are in China.

why china government banned ICO there, I think the reason is that there is so much Scam ICO, so the government of china attempted to protect their people Bitcoin from that scam ICO and fraud. we must think positively about what happened there and why the bitcoin price down, I think because panic sells some traders which hear china banned ICO..

People who want to invest will invest regardless of the ban. There are plenty of ways to escape government regulations when it comes to internet. And the market has already recovered from the drop. This shows market is getting mature now.

i think so too.. or is this some sort of a strategy? to just make the price dump? then make another announcemnt like there are not going to ban it to make the price stable or pump again?   ???

China is jealous of Bitcoin as it's been a better performer than its economy, it has done it again, first with the exchanges when the price was high and then with the banning of the Ico. Well they may say it's for good but we all know they can't see Bitcoin succeeding, I feel it's a welcome move as price dropper people brought and made merry all round. But I feel the fear is all but over, prices have rebounded sharply back.

If they were really jealous about Bitcoin, then they wouldn't allow private companies to set up gigantic bitcoin mining farms across China. Also, a large portion of the mining equipment manufacturers are based in China, and the government doesn't seems to have a problem with it.

I do not know, but there are some projects that work with china, and when they tire on ico, there are some impacts, such as yesterday's price drop. but, it may happen just because of panic.

at first sight it may seem like there is a relationship between "China banning ICO" and "market prices" but when you pay more attention to the details of these movements you can see the only relationship has been between "China banning ICO" with "ICO" and "ICO platforms such as ethereum,..." prices. they are the ones that should be affected directly.

the rest (like bitcoin price falling) has been because of FUD where people said lied "China banned crypto". and as you can see that is resolved now.

and after a while it will only be China that banned ICO. if other countries feel this scam they will also ban ICO and we can finally get rid of all the scam ICOs once and for all.

even if they do reverse their decision, it was a pretty big show of power from the chinese government that they have the power and means to affect the bitcoin market; that alone i think is a powerful card to hold. they didnt even issue a ban on bitcoin itself, just a ban on crowdfunding projects. and with that, they managed to knock down bitcoin's price more than 10% practically overnight. of course, we have recovered most of the damage now, but imagine if another superpower, lets say, the US, bans ico's as well. at that point, i wouldnt hesitate to say that the damage would take at least a year to recover from, even partially.
of course, people spreading FUD have a part in it too, but personally i think they're too easy to see through and don't have a sizeable impact on the market.

When there is bad news for one of the big crypto currencies, that naturally affects the other coins as well, including bitcoin.
So to me  it is explainable that bitcoin got pulled down to a certain degree.
But it is strange for me to see that ETH is recovering faster than bitcoin does.
The only thing I read is that BTC-e is back online. Might this cause the improvement we see today?

They have a great connection between the china's ban for the ico and also for the market prices of the altcoins and even bitcoin in the market because it is a huge effect for the whole market because we know that most of the investors in this industry are chinese and if their country banned ico then they cannot participate anymore so the chance for the market to gain more volume is very low which makes the market users lose some hope.

If the US does this , then we can say for certain that we're .. you now what.
Unlike China, the US is usually followed in their decision by other countries.

Nobody really gives a damn about Chinese policy and their laws.
But if the Congress makes a move against tokens, ouch this is going to hurt not for a year but for tens.
But for now they have bigger problems than a crypto world with a marketcap of some 180 billions.
They have a 14 trillion problem knocking at their door in a few weeks.

its incident make some people panic sell with their bitcoin, some people believe that this incident make some people think that bitcoin will not popular and can't grow like usually, but i think its is a good news you can buy it now when the price is down and  best idea for make some investment  ;D ;D

China banned only some ICO projects, and I think that it was because of lack of regulation, so it's normal.

This is normal when the issue of banned some ICO  makes many people who have Altcoins take the decision to sell them,, as we know many Chinese people who have bitcoin or other cryptocurrency

Hi, What do think about  welltrado.io? I saw Celcius network already raised 30M usd, do you think Welltrado could raise more?

Currently, according to experts, China's share in the ICO market ranges from 15% to 40%. "It's impossible to know exactly what proportion of Chinese ICOs are on the global scale, I suspect that 30% -40% of ICO investors around the world are Chinese.The volume of ICO trading (after the ban is introduced) will continue to grow rapidly in South Korea and Japan, each of the two countries may account for the greater part of global ICO trading volumes and large crypto-currencies such as Bitcoin

Although the ico is forbidden in China!

But in China's technical team, it is possible to carry out projects in countries other than China!

Only ico's crowd-funding can not be carried out in China, it is quite a loss!

It's just a panic situation in china right now because of the regulation

規制は不可能でしょう。出来るのはマイナーに圧力をかけるくらいのこと

many chinese people were holding cryptocurrencies, after the ban they panic sold. same thing happened with speculators worldwide who thought the prices would fall due to that

There are a lot of frauds in the ICO market. When I was looking for reliable ICO for fresh specialists, I found Socratus. It is a platform for insurance companies that was created in order to make the communication between customer and insurance company more convenient and simple. With this ecosystem, companies will be able to cut operating costs, create new insurance products, deal with data analysis more efficiently and many other benefits. Right now, it is on the stage of private token pre-sales. And I think that it is really worth investing in.

Actually, this is really good for Bitcoin.

It can happen just because of panic. The rest (such as reduced bitcoin prices) is attributed to the FUD, where people lied "China prohibits passwords." And after a while, only China banned ICO. They have a great connection between the Chinese ban on ico and the market price of the altcoins and even bitcoin in the market because it is a huge effect for the entire market because we know that Most of the investors in this industry are Chinese and if their country bans ico they can not participate anymore so the market opportunity to increase the volume is very low, causing market users to lose some of the hype. hope China only banned some ICO projects, and I think it is due to lack of regulation, so it is normal.