Bitcoin Forum

Why is china so influential with bitcoin prices?

Because they (used to) represent a huge chunk of trading volume, as well as total network hashrate.
They were a major country prior to banning Bitcoin. But now not so much really.

they are the big holders of BTC. and up until now, i believe they still are. with such number of population connected with bitcoin trading, chinese is i believe the top traders. they just manipulate the market. so this ico ban is just one of their strategies to get the btc market.

China is a odd country no twitter no facebook no btc :-\

exactly with their populations and with the wide knowledge about crypto they really made a big impact especially now that their government
are really trying their best to regulate and make a law about this currency as they are feeling threat to their economy.

As far as I recently read, china hold at least 20% of bitcoin around the world. They also have the biggest bitcoin mining due to the cost of electricity in their country was very low.
But i don't think that bitcoin will go down just because of that because other countries in ASIA are starting to adopt Bitcoin.

What you said is true that china is the main center for Bitcoin mining and their are lot of users who are holding bitcoin from low, and their exchange are the highest trading volume in crypto world but this are all old news latest one is South Korea and Japan are leading the bitcoin trading and even they have given bitcoin legal status. That is why the market is now spread between so many countries that china is not able to create any panic in the market.

Yep. As time goes by, Bitcoin is much more distributed across the globe making it as less focused in one place and not being dependent. The impact is not that great as what it should be in the past if they ban it a year or years ago.

Aside from the common reasons, probably they think Satoshi is Chinese hence they feel pride but nah. China is just onto something.

Bitcoin's price is very variable and any news, positive or negative, can affect bitcoin.
The price of bitcoin fell due to bad news from China but also from Morgan.
Of course, when panic begins, it is difficult to stop it and price starts to fall.
Bitcoin will eventually recover when some positive news appear and demand becomes bigger than the offer.

I agree with you, they are currently also the largest producer and user of masin mining in the world (due to low electricity costs in China). just a bit of bitcoin-related regulation is bound to have a big impact, and do not forget that there are many Chinese investors.

I thought it was Japan with the most trading volume because of the fact that you can pay everything in bitcoin there and i mean everything. The China thing might have happenned because of too many media and members of the community paying too much attention to them making it seem like if China pulls out bitcoin dies which made its value unstable.

to my knowledge the reason chinese is very influential on bitcoin, because I think half of the shares of bitcoin is already held by china.
so if china do negative things to bitcoin, then instantly influence to bitcoin.

A large number of Chinese has a great influence on everything in the world. This applies not only to bitcoin. Imagine what will happen if China will suffer an earthquake and destroy production capacity. The world will suffer a collapse. Cryptocurrency is also not escaped from such dependence.

since china is one of the most powerful in terms of economy every move they make will have a huge impact even in the world of cryptocurrencies. and there are many btc users that are Chinese that is why they affect the price of btc.

That is the reason why China is so influential when it comes to the price of bitcoin, they hold a lof of the biggest mining people in the world, the reason they hold at least 20% of the bitcoin circulating in the world. It will be affecting the price because they hold 20 percent of the bitcoins, how can't it affect the price?

China is not influential i think. Its peoples fear that is affecting bitcoin.

because chine is the 1 of big country that use bitcoin. chinese people mostly know about bitcoin and when china banned bitcoin i think they sell all their bitcoin and makes bitcoin rates down. second is china has many investor in bitcoin sector

communists do not like freedom. communists are odd.

Slightly you were right but as I can see from the recent news and even some would even say that in China, there are so many people that are using bitcoin, or should we say they are mostly investors and that news took a great deal at the bitcoin's price which is the reason why it goes down for a bit, but it will rise again.

Good to hear that, thanks for updating me, there so many threads here that i cant keep up :P

Their loss  ;D

Chinese is known as an entrepreneurs worldwide. Bitcoin is a currency in digital form, and where there is money, business minded people are there. Bitcoin is an opportunity to have money and many Chinese are involved in bitcoin and their demand in bitcoin makes price changes.

China is the country with the largest population and perhaps that is the reason why china is so in fluent with the bitcoin prices. China has most of the bitcoin users as the people in china are technology friendly and have a good source of income through bitcoins. I don't even think that the rumors about china banning bitcoin will be true as there is no such huge reason behind bitcoins to b banned.

Either china would launch a special coins to be used there as they have always invented a second option for each thing that is essential. But it is not possible to gain as much reputation as bitcoins. Perhaps the rumors are fake as the similar were seen in 2013.

China owns the largest mining and bitcoin industry in the world, 81% of mining pool belongs to them, they have a cheaper electricity cost from coal and nuclear which how the mining works, it needs a ton of electricity in order to generate and mine a lot of bitcoin, but Chinese government bans bitcoin and we all know that, there's a news that the Chinese crypto traders moved in to japan.

Currently my most electronic part are import from China so yeah China can do anything with major market exposure.
China may the most wanted investor if they want to build their start-up company and as we can see when China able use bitcoin , global market got affect quite much

Yes, china has the most investors of bitcoins and also it influences the price because of panic. The recent rumor made a great effect on the price of bitcoin about china banning bitcoins, but in reality i dont think it would happen because most of the miners and investors are from china. China is a independent country and we cant predict the future of bitcoin either.

But as the population is much higher there, people fear about the bitcoin markets falling and in panic they sell off their bitcoins leading to the price fall of bitcoins. But surely bitcoin will again rise as bitcoin has previously faced many such situations and now is strong enough.

Because China is the world's second-largest market economy, the large population and rich people invest in bitcoin. Influence and develop to bitcoin. So if China prohibits bitcoin, it will have a big impact on the bitcoin currency.

China is so influential not only on bitcoin prices but also to all things that can be traded. They controlled almost everything in the world. China has the ability to mine more bitcoin because of their cheaper electricity compare to other countries. China have the most advance technology to mine at cheaper price. And I think many Chinese are in the bitcoin industry now.

That's now just a myth that china is influental to the price, they lost all their capital and now their exchanges trading "dust" amount of 24h volume, nothing to be worried here.
but many people still think about hashpower which china contribute, don't know about the future of bitcoin if china going to banned the mining activities there.

Because their country has the highest number of population in the world and they are the major part of manpower and consumer in almost every market and trades. Even major company like samsung and other gadgets invests in china so it's no wonder that a major part of bitcoins market is affected by china.

as far as I know China is very influential on bitcoin, because chances are half of the shares owned by bitcoin may belong to china, and china has established cooperation.
or on the contrary the reason is probably most bitcoin users are chinese. then it will also affect the bitcoin.

Chinease bitolin holders can obviously just use the other exchanges (but who knows what can happen with their government, they always had extremely strong internet chensorship). There is no exact borders for btc but they still have huge amounts of farms (but imho it will only decentralize bitcoin).
I realy hope that the BTC price changes caused by china bans can only have influence in short term and situation will be normalized pretty soon.

many causes are factors. which obviously bitcoin users in china country big enough and many. one of the influential factors of china, but I am sure, bitcoin will be able to pass through it.

Becasue there are too many mining activities in china. And also too many bitcoin holders there.

Are they really influential in bitcoins?  I do not know but if Dimon do not announced bitcoin as a fraud at the time the Chinese government banned bitcoin, the effect of the China to bitcoin is not that much.  Even if Dimon and China made that moves, bitcoin price is still high.  So basically China is not that influential.  But I guess it looks big thing because China is big and that Chinese are many. ;D

the answer is simple. there are a lot of buisnessmens who invest in it. Yes, they are maybe more interested new inventions, you know)

in my opinion, it is because they own large volume of bitcoin causing them to be one of the dominating forces affecting bitcoin's price rise and fall which affect others as well who have weak hands, just like a domino effect. It could also be their processs of manipulating the prices so that they can buy bitcoin again once the price falls and taking profit after it get backs up. most of the Chinese people are business minded and this is one of their ways of doing business. Buy low, Sell high.

They have been a major percentage of miners, mining pools, holders of large amounts and lots of the best technologies in crypto came from China.
Biggest spenders often are Chinese  and up until recently it seemed like China had the controlling hand on the network but ...
It isn't so anymore.   

China is home to many of the world's most BTC investors. They keep a large  BTCs that can cause turmoil in the crypto market, which is why China's influence is so great.

Because many investors and holders are coming from China.  Many mining activities also done in China.  So, there are very influential.  

And a simple answer, China is just too damn big and there are too many Chinese on the planet! Also, if still the case, the US government owes China a pretty huge amount of cash. So in reality, that kinda makes China the big gun. China has widely extended its territories having control over a considerable number of economies. China has a mission....and it’s pretty obvious...world dominance!!!

are bitcoin prices decreasing today ? I have not seen the market. but I guess it does not exist. in the case yesterday may be true the impact of china so felt. but I think it has passed.

We are keeping on repeating the investor thing with china and we all know that there are many miners in that country and let's not forget the most huge facilities of a mining Rig is in that country, Well even if there are fake news that arises that they are banning bitcoin in their country doesn't mean that there are no Chinese that keeps on investing and mining bitcoin, just like in other countries that have ban bitcoin they are coming up with plans on how they would keep on earning bitcoin.

the impact of China is so felt to us. it was a bad day. but for now I think, china will no longer have a bad effect on bitcoin.
I don't know on the 30th what a decline. but I'm sure bitcoin will survive.

First of all, China has the largest population of people and of bitcoin user (whether it be mining or trading). It is easy to manipulate the market with that huge volume and we can see that it is very easy to manipulate the market to them. But we should not very much worry about certain things like this. THe world's population of bitcoin user is greater than them. They can try to manipulate bitcoin, but bitcoin willl never go down because of them.
Some chinese manipulates bitcoin and try to create there own cryptocurrency. They thought that bitcoin is detrimental to their economy, that is why they are trying to control it while it is still on its early stage.

because in China most of all miners and traders.

because 1/3% bitcoin users are china

I dont know why, but china is trying to block ICOs and bitcoin networks...
Maybe they are all envious of the success of bitcoin

I agree with you because what affects bitcoin is not a country but a citizen of society itself that affects bitcoin, even though China is no longer a bitcoin. but my neighbor chinese still likes maen btc.

yeah because many bitcoin holder sell their bitcoin togeter before market closed by china's goverment so i think its make bitcoin price down

First of all China being one of the major player in the world politics. Second the number of people in China using Bitcoin is is immense a large part of their population uses bitcoin and they also have mamy miners so maybe that is what is making China more influential. Anyways bitcoin over came that situation that's all what we wanted.

Because in China, 20% of traders are just kriptornka. But crypto-currencies are not China. And most likely its limitations - a temporary phenomenon. After all, the news has already come out that on October 18, China will cancel the bans on Ico. The previous prohibitions have a different meaning. Most likely in this way, someone decided to buy well at low prices, or China wants to create its own currency analogue of USDT, thereby becoming the leader in the market for one more position.

They really are, and we can clearly see what happens to bitcoin when something bad happens(related to bitcoin) in china. Price falls really fast because of that.

China is also leading in trading with other countries. China has most of the businessman peoples thinking about money. They have a option for each possible thing. Even they have an alternative for youtube, browser, etc. The population of china is biggest in the whole world and perhaps that is the reason why they make each of their individual decision.

More number of the peoples in china are involved in bitcoins and each of their buying selling activity changes the price of bitcoins. China mines the most bitcoins and also has much shares of bitcoins. That might be the reason why china influences the price of bitcoins.

The only reason behind this is that China can see a very bright future of Bitcoin and China only wants to take control of not only Bitcoin but all other crypto currencies as well for making his own economy much strong than now. I think China’s intentions are very much clear to each and every one. China just want its own profit and that’s it.

China used to be the biggest player when it comes to bitcoin thats why they somewhat have a huge influence with bitcoin. And given that they have the most number of users in the bitcoin market making it easy for them to control the price.

There are many factors that play a role but the most important is that most of the volume of world bitcoin trade and mining power is concentrated in China. Bitcoin, as a technology, is designed to operate in a decentralized fashion. That means that there is no single central authority that can make decisions on behalf of all network users. The value of "the most democratic form of money" seems to be too affected by the actions of only one Central Bank namely PBoC. Though idealized as a revolutionary and independent discovery, bitcoin must operate in a real-world environment. In this case the reality is that the majority of bitcoin trade, estimated from 50 percent to 98 percent, and mining, allegedly between 50 percent and 70 percent, occur in China. Another important fact that bitcoin is used as a vehicle to flee capital from China. Savers and investors often use cryptocurrency as an alternative asset holding against the weakening of the Yuan. This makes every bit of regulatory disturbance affecting massive impact across the network

because China is a country that uses bitcoin, especially businessmen in China, and because of the concern of the Chinese government if the yuan currency will lose with bitcoin, then China forbids bitcoin and ico, according to the news I have ever read.

China owns the largest bitcoin mining pool with a lion share of approximately 70 percent of the total mining of the whole world.Top 10 mining pools are in China, so they own the most number of bitcoins, the bitcoin block chain largely depend in China.If the mining operation halted in China bitcoin transaction might greatly affected as it may delay the processing, the miners are the great contributor of the bitcoin blockchain because they are the one who signed the ledger to make it tamper proof. Chinese government has a lesser role regarding to bitcoin, but we salute the high regards to Chinese bitcoin miners.

It's not.

china is one of the main investor in the bitcoin thats why bitcoin goes dump slightly last month but i can't control of the china government the bitcoin as crypto currency because have many countrie's are also support the bitcoin in crypto world so i believe without the cheese investor bitcoin go on the top.

Actually not so influential if in my opinion,when the price of BTC down the bed that he said caused by the news about china is not at all like that.The panic of everyone in the world made them sell their BTC because of the news,so in my opinion like that china is not very influential with the price of BTC but indeed there are many who use BTC out there ;)

Because China - a large country. It is also a country with a large population.

Investing amount is huge from china and lot of investors from china invested their money in crypto-currency, Few days back i have seen on bittrex volume of Neo coin is 18988 bitcoin and then after 1 day i saw volume at 8977 btc majority of the investors from china sold their coins and dump the price.

It can be deny and no doubt that China is one of the powerful country in the whole world, then in terms of bitcoin China also is one of the biggest Bitcoin mining farm in the world too. but not so influential because there are still other country that are more influential than China.

Their "influence" is now a history, a lot of people and bitcoin holders were affected by the multiple attacks (attacks in sense of closing the exchanges, banning exchange, banning ICO) of china  on cryptocurrency which produced FUD and a mass selling of bitcoin because of what they did, also big companies and big personalities like JP Morgan which built his reputation on Investment and Stock trading. So as far as i'm concerned, that "influence" is now a history.

well it's because they are the one who have the most bitcoins here in the world and Big hashrates and alot of investors. But, now i think China isin't something now Bitcoin can rise with and without china.

China is the largest country in the world with the largest population also. They also have the largest number of Bitcoin users and they have the biggest volume of Bitcoin if I'm not mistaken. It is like in a company, the person with the largest number of shares of stocks is the most influential.

according to news I've read, that the Chinese government branded Bitcoin exchange rate up and down purely following the market mechanism. The government can not control the exchange rate, unlike the yuan against the US dollar. The government does not like something that can not be arranged.

actually they are not giving very big influence for bitcoin price but because of china marked as 'big'  for this cryptocurrency world so every their actions and regulations become a consideration by most of bitcoin users. for example while china ban operational of bitcoin exchanger in there the most of bitcoin users(include holders) afraid with the affect of it. so they follow panic selling trend. but actually they (all bitcoin users and holders) can stand well without china. it is proof it right now by the situations, you can see from the fact.

Chinese people are holder of 50% of Bitcoin hence there is a big drop in price due to china ban ICO and then order to close crypto coin exchanges. Slowly china effect is now over and after a dip of approx. one week, now BTC again rising slowly to upward direction and gain 8-10% from its low. It is a big relief to crypto currency market as china have big influence on crypto market.

you have 0 proof of that and you are just making a big guess based on nothing.

even the Chinese trading volume is barely 10-20% of the total trading volume

and you think ICO and bitcoin are related!!!!

now you just contradicted yourself!
if China really had the effect that you claim they have with your claim of them holding 50% of bitcoin, price should have continued to drop not recover!

now ? that's not anymore. china is part of the past bitcoin. there is no effect now for bitcoin.
as well as with korea. only the past wind is always a part of the journey in general.
there is no decrease now for bitcoin.

maybe for last month and the rumors were so intense.

but now china is no longer a strong obstacle to tearing bitcoin.

On September 1, bitcoin cost five thousand dollars, once again updating the historical maximum. Three days later, the exchange rate began to drop sharply: the People's Bank of China declared illegal operations related to the ICO. Officials explained their decision by the fact that such placement carries financial risks, and sometimes it turns out to be fraud.

The further fall in the value of crypto-currency was again linked to China. After the ban of ICO, the Chinese business publication Caixin wrote that it would be banned in the country to trade in crypto-currencies at local crypto-exchange exchanges. Later, the world's leading business publications told the same story, but no confirmation was received.

ok so we all know how much of an infleuence China was
on Bitcoin and the amount of mining that was happening there.

Going forward how much of an infleuence is it going to be?
will people still be using and trading it?

Because they have a lot of bitcoin, there are many exchanges there with a lot of volume and because the miners are mostly in China territory once that changes China is going to lose most of its influence.

china has failed to reduce the value of bitcoin to very low levels. quickly the bitcoin can rise again.
I think china has failed.

I think china wants to buy more stack of bitcoin in low price.  its just my opinion.
And they Have much Bitcoin.  If they going to sell all of in low price. bitcoin will go to hell.

China doesn't like bitcoin since it cannot control it. No fees mean no money goes to the government so whats the point of having it? This lead China to ban bitcoins and bitcoins dropping in value really fast.

That is a funny way to put it, but I totally agree with you.   :D

It is clear that when there is a sudden fall in the BTC, this fall occurs for several reasons, but the case of China certainly has imputed its present value.

Because electricity is cheap China mining pools controlcontrol more than 70% of the Bitcoin network’s collective hashrate
Also,China being the fourth biggest country it is logically to store a big amount of bitcoins.
China cant stop/ban Bitcoin but it definitely has some control to its price and without China involved in Bitcoin the mining will become harder and a bit more expensive

China is one of most important pillar in development of bitcoin. They have made this business so classic that every other person is coming into it. But Chinese government can only take that much which doesn’t surpass them their own currency.

Bitcoin was overwhelming the effect of yuan so they have banned bitcoin for a time being. I hope they will legalize it after.

I think the government feels threatened by the existence of crypto currancy as investors begin to glance and move their investments from yuan to bitcoin.

Mostly to do with the mining being somewhat centralized or based in China due to the cheap/free electricity. There are also whales and big exchanges (debatable) in China too. So they have some influence.

So, when the exchanges closed and people cashed out the priced dropped a fair bit, but surprisingly it rebounded pretty quickly too.

maybe because in china there are many bitcoin users and the number of bitcoin owned is also a lot, therefore if china users do transaction jua buy in exchange it will have high impact on bitcoin price, I think that's the reason

in because most bitcoin investors are in China, and since bitcoin is illegal by the government, most investors back off and influence the value of bitcoin prices

very influential because bitcoin users in china country is very big.

which is why china has a big part in the value of virtual currency or we often call crypto.

but now china is no longer the biggest problem for bitcoin.

Hold of china has gone now there is no importance of china now in crypto market they banned bitcoin and this mean that they are kicking business and development out from their country and in future they will regret on what they did and they will beg for the rejoin and Chinese think that bitcoin will not survive without them but it is surviving and progressing without them.

Why china affects the price of btc? It is because they have the big investors of btc, they hold good amount of btc which makes btc fluctuates so fast if someone whih we called big whales withdraw their money in btc, the value will surely reduces into low amount. But this past few weeks btc rises despite the fact that chona still at the crisis of banning still btc lift it self up because there were strong foundation from other country that support it so much, so we hope it will continue and china will continue to invest high money into btc.

first Chinese countries that support the existence of bitcoin, and now china makes panic by banning bitcoin, in order to lower bitcoin market prices.

Well i rather think they might have something up their sleeve which might be revealed later because they seem to sing along when it pleases them and the opposite when it goes against them and such hypocrisy cannot and should not be tolerated from the chinese government.

because china have large population and most of them are using bitcoin...and there activity is mining because of lower cost of electricity....

Now they have some news again of letting those exchanges operate again but now, they would have regulations applied to it so that they can still have control over it. Before, they were alarmed because many people decide to invest on ICOs and trade on exchanges that they were not able to control so they decided to ban it. They were able to make the bitcoin price go down in value but now bitcoin price is going up because of the incoming bitcoin fork.

population of china is too big so many people tend to buy bitcoin than other country...

Because they are the country with lots of investments in bitcoins and many of them have mining exchangers and others. So in a single word of china the price of bitcoins can be changed. But now it seems we are no longer feeling the return of the bitcoins in the past. There is absolutely nothing to stop crypto so happiness is happening.

This is I think most relevant answer
China has big known investors who holds tons of coins in their side.. china I think is one of those people who are pioneers interms of technology like these. And most advance also lots of people are using also cryptos.

Some of people said that china wants to manipulate the coins but who knows what is the real deal

Because China is so big with so many people. Being one of the largest population in the whole world, it also has a certain percentage of people who ate bitcoiners. So one move of bitcoiners will also move Bitcoin as a whole. Yes, it can somehow shaken a bit but of course will not falter. Bitcoin is unstoppable!

Ya I agree you.60 % of bitcoin investor are Chinese.If this continues means,the currency value of china will reduce and Soon Bitcoin will replace the currency using in China.This also affect their economy.By thinking all this ,china had try to ban the Bitcoin from her Country.But bad luck,they can't do that so.Now again the price of bitcoin is moves to the moon.

in my opinion also like that, china very much role in BTC world. the traders and investors are very much from the chinese population, And chinese want to manipulate bitcoin but they can not.

I think because of the large number of miners. And the main thing in bitcoin is mining. If mining stops bitcoin will die. It is all due to miners of bitcoin that the people from all over the world invests their money and are making more and more money. if China also ban on mining it will be very dangerous for all the investors because all their investments will be lost. The investors will never afford this.

Yes I agree with you. China is now turning towards the legality of bitcoin, although they have banned the trade of bitcoin in china but not the mining. I heard that almost 80 percent of miners are Chinese. Just imagine what will happen if they also ban mining. But now it is good to listen that China has decided to legalize bitcoin in the near future. It means that the banning decision was for some reasons.

It is only China's strategy to cover that he is a country with a very large number of bitcoin users. 20% of bitcoin users are china. and the amount is not a small amount. In this way, he wants to be a country that carries bitcoin. because china believes that the future bitcoin is very prospective and promising.

China have huge bitcoin and altcoin holder. they are much related with cryptocurrency.  if china govt. do anything
 against btc,  bitcoin price dump.

No, it is not. Rich people in China are very wise and they know how to make money from their money. That is why they always use their money to invest in many different sources, not only bitcoin. They invest their money all around the world. There are many projects in the USA collecting a lot of money from Chinese investors. So, I just want to say that dont underestimate Chinese. They are very very smart and intelligent

china is always unexpected yet they have the biggest bitcoin and other mining farms in the world. We know they are the Biggest bitcoin holders and they can decide to change the price if they want. but As time passes they have to sell some amount of there stored bitcoin to the world in order to make constant money and not the price has risen so much this can be the time for the biggest trade from China.

Simple questions and answers are also very simple. China was once a bitcoin friendly country, so it became the largest bitcoin market in the world. So, bitcoin changes here have an impact on the whole world. However, China is no longer the country most affected by bitcoin. Conversely, Japan is doing it.

I think China does not really matter if you look at the current price, it only makes someone in their country freak out and make the other come because the price drops drastically but now it's over $ 5000

It's just because they were one of the biggest contributor of bitcoin before. With the current thing that they've done with their bitcoin, bitcoin price got affected a lot since they banned bitcoin in their country. However, as we all know bitcoin recovered from it because there are many other bigger countries who holds a big chunk of bitcoin.

You’re right, so many chinese users in crypto world and the Chinese government can’t control the a lot of ICO so the government forbids and dismiss ICO. if not Yuan will probably be endangered because of bitcoin presence in china

yes china greatly affect the selling price of bitcoin in the last few weeks because in china is a very big bitcoin mining place in this world and great amount of ICO in china really influencing the bitcoin selling price
but we should be grateful because sale price of bitcoin that influenced china didn’t occur too long and the bitcoin selling price has recovered due to its ICO’s ban in China,

it’s true and the influence has proven at the beginning of last september when china really have closed all ICO in china, but luckily it didn’t occur too long and the bitcoin selling price has recovered, but it's just old news now but it add our knowledge as the bitcoin holders

does china really have banned bitcoin ? from what I’ve read and as far as I know is the chinese government only forbid and forcefully closed ICO, or is it me who read wrong news?
From what I know from ICO data in Chinese, 65 ICOs has raised $ 394.6 million from 105.000 Chinese citizens in 2017. and it’s really affect the bitcoin selling price at the beginning of last September.

They are one of the big influential country in the bitcoin economy. And the foreclose of exchanges did really affected the price of bitcoin as it was followed by a very quick dumped.

And later on that gave the advantage to a lot of traders who are waiting to the dip of the price of bitcoin because it went up to $3,000 and that's the final dip of bitcoin's price.

But today, there's nothing that much is happening on China now, I guess they shifted to NEO and some other alt coins still I'm tuning in for their comeback.

But they are not going to do that, they are not dumb, if they did that then the price of bitcoin will go down, that is correct, but they will be the ones selling their coins at a bad price and the ones that will have to buy at an higher price and they are not going to do that suicidal move.

In my honest opinion, I don't think that China do it in purposes. They just made the decision to turns its back against bitcoin and not necessarily to buy it when the price is plummeting. However, they are not totally banning bitcoin, on the ICOs. But the damaged has been done to the market already. And we are moving great without them.

I don't think China has become influential when it comes to pricing of bitcoin and I think no country will ever affect it because the price of bitcoin will be based on demand and as long as many people will be using bitcoin the price will continue to appreciate. They just think China can affect because they have large population but bitcoin is spread world wide and theres no proof that the majority is in China

The population in china is very high. and is the largest Bitcoin user in the world. after the banning of Bitcoin in the bamboo curtain country made the Bitcoin users panic and in the end they sold it, and it had a big impact on the price.

we know that the Chinese population is the most invested in this bitcoin, surely the digital money turnover is also the most from there. If the government will take over and so of course this will make the panic of the bitcoin user.

Mostly Chinese customers. Each of the major currencies, China generally accounts for more than 30% of the investment. So what's the big news in China, bitcoin prices will have big fluctuations, especially cottage money

At first take a look to china, see their population,  see their educational quality. And then explain your question. It would be perfect answer for your question. They are most important part of bitcoin.Bitcoin fall down for their banned notice. So, take a look into market cap. ☺

I think you are wrong because as I heard they are mining more than 50 percent of all the bitcoins. But it is not only the reason of their influence. They have a strong hold on the world market of almost everything. China is the only country who exports the largest volume of their production. They already have the influence over the market of everything and so is their influence on bitcoin.

because China is one of the big market of Bitcoin, many of them become Bitcoin users, this can be seen  in the amount bug miner coming from china especially many big ASIC producers are from there, i.e. Avalon and Bitmain. mining is very popular in there thanks to the cheap electricity costs and this makes many people involved in it. this is the reason why China become a big market and it seems their  government supported it even though exchanges and ICO were banned few weeks ago.

Yup because most of bitcoin exisy here is because of china.. they play a big role and part of crypto community..
Large number of bitcoin was circulating in china and they have the ability to mine more than other.. and also most of investors was located in china... the more good econony the influencial they are

Bitcoin is currently down 7.7 percent, Ethereum is down 11 percent, Bitcoin Cash (which is quite popular in China) is down 11.2 percent, etc. But if you go on Chinese exchanges, the crash is even more important. For instance, Bitcoin is down 13.4 percent and Ethereum is down 18.4 percent on OKCoin.

China’s dominance of the bitcoin network is incredibly concerning to the digital currency’s techno-libertarian purists, who fear that the concentration of mining power in the world’s second-largest economy is threatening to subvert bitcoin’s democratic nature. With more than half of the network’s hashing power resting in their hands, giant Chinese mining pools like AntPool, Bitmain and the other massive bitcoin-mining conglomerates can effectively monopolize control over the bitcoin blockchain.

Given bitcoin’s stated aim – to bypass the authority of central banks and governments and return control of the world’s money supply to individuals – many have noted the incongruity between the currency’s democratic aspirations, and the Chinese government’s apparent willingness to tolerate, and even nurture, the country’s bitcoin industry.

“Bitcoin Uncensored” explained one theory for the Chinese government's embrace of bitcoin: The People’s Bank of China is using its jawboning powers to manipulate the price of the digital currency to benefit politically connected elites.

“The CCP is not out to kill bitcoin – at least not right now. Since China can have such a huge impact on the price of bitcoin, why wouldn’t the Chinese government use this power to its advantage? Chinese government regulators can, in theory, exert a huge influence on the global price of bitcoin. So, if you own bitcoin, well, the value of your money can be heavily influenced by the whims of the world’s largest authoritarian regime.”
As the theory goes, the massive swings in bitcoin’s valuation witnessed back in 2013 were engineered by the PBOC when authorities prohibited local financial institutions from dealing in the digital currency. In early September of that year, one bitcoin was worth $100. By late November, the price had ballooned to $1,000. Then the price came crashing down seemingly overnight. Chinese authorities were widely blamed for the drop, which created what should’ve been an incredible buying opportunity.



But whatever the PBOC’s plans might’ve been, they were disrupted by the collapse of Japanese bitcoin exchange Mt. Gox, which ushered in a bear market that endured until late 2015.

However, more than two years later, Chinese authorities again resorted to jawboning to influence the bitcoin price when they announced in January that they were investigating the country’s digital currency exchanges. After forcing the three biggest exchanges in the country, BTCC, Huobi and OKCoin, trading volumes in China dissipated and the price fell – though not by as much as in 2013, creating yet another buying opportunity. But the time withdrawals were reinstated four months later, the digital currency had climbed to all-time highs, driven largely by an influx of Japanese and South Korean retail investors who have been enticed by the promise of exponential returns during the modern low-interest rate environment.

Of course, Chinese authorities have plenty of other reasons to try and control the bitcoin market. Here’s BU with more:

“So why has the Chinese regime been targeting bitcoin other than it being a democratic currency? There are a few reasons. First Chinese people can use bitcoin to get their money out of China. The Chinese regime has limits on the amount of foreign currency people can buy. But Chinese investors can buy bitcoin in China then later exchange that for foreign currency in any amount they want.
 
Huge fortunes that might be made through corruption could be safely stored out of reach of China’s pesky investigators. That is why China’s central bank started investigating bitcoin exchanges back in February, and threatened to shut down exchanges that violated rules on foreign exchange payments and settlement. That was why China’s central bank started investigating bitcoin exchanges back in February and threatened to shut down exchanges that violated rules on foreign exchange management, money laundering and payment and settlement.
To be sure, it’s unclear how much money is being moved out of China through bitcoin. Bitcoin transactions in China are not anonymous since you have to link a Chinese bank card to your bitcoin account. You could move a few thousand yuan, but large amounts would attract attention.”

Should it choose to use it, Chinese authorities have at their disposal what BU describes as “the ultimate sword of Damocles.”

“The Chinese government has the ultimate sword of Damocles over bitcoin operations in China. Chinese regulators could crack down on bitcoin by classifying it as a foreign currency which would limit individual transactions to $50,000 a year.”
While the Chinese government could easily crush the bitcoin market, it hasn’t because that would allow miners in other countries to usurp its dominance – something the PBOC might find difficult to undo. China is home to between 50% and 70% of the world’s bitcoin mining operations, BU reports.

Below is chart illustrates the bitcoin network's hashrate distribution by mining pool. As the graphic clearly shows, Chinese pools control more than half of the network's power, though the exact percentage is in constant flux because miners are constantly competing to process the next block of transactions: (source: blockchain.info)



Instead of cracking down on the mining community, the Chinese government has been effectively propping it up by supplying its miners with cheap electricity.

Major bitcoin mines in China’s northwest are being given access to government supported low cost wind and solar power. Powering the computer servers needed to mine digital currencies is one of the biggest financial challenges that bitcoin miners face. The PBOC’s logic here is easy to spot: The more bitcoin miners who set up shop in the China, the greater the control the PBOC exercises over the global bitcoin market.

Lingering fears of a crackdown have only served to benefit the government’s position. As BU explains:

“A lot of people feel they should buy as much bitcoin as they can right now, which will of course further drive up the price, possibly making officials very rich.”
****

After bitcoin plunged to a two-week low earlier Thursday, CNBC and a handful of other media organizations blamed the latest drop on a trifecta of reasons ranging from cyberattacks to new regulations that are presently being debated by US Congress. An outline of their reasoning can be found below:

Cyber attack

As CNBC reports, major bitcoin exchanges were hit with multiple cyberattacks this week. Bitfinex, the largest U.S. dollar based bitcoin exchange, announced it was under ‘distributed denial-of-service’ attacks (DDOS) which slowed the service down.  The attacks come at a time when consumer interest in bitcoins have also led to heavier than normal traffic on the exchanges, compounding the attacks.

We are currently running slow due to a DDoS attack, hang tight while we make some adjustments to speed it up. #bitcoin #localbitcoins
— LocalBitcoins.com (@LocalBitcoins) August 16, 2016
Platform upgrade

On August 1st, the bitcoin platform will be undergoing a protocol upgrade labeled BIP148, meant to solve the block size debate – an argument over the size of bitcoin’s ‘blocks’ (a record of transactions on the public ledger – the ‘blockchain’). The planned improvements are supposed to help ‘scale’ bitcoin for future growth, lower fees, and speed up transaction times –  however the upgrade is not without risks, and the Bitcoin community is divided.

#Bitcoin scaling negotiations / compromises are over.
Either we support BIP148 and save Bitcoin from destruction or 8 years gone to waste. ????
— Hisham Fahmy (@fahmyeu) June 14, 2017
Whether we like it or not, at this point not supporting BIP148 is the dangerous path. With most risks being to miners & services, not users.
— Neo M. Atrix (@RedPillTrading) June 4, 2017
Inclusion in Anti-Money Laundering Bill:

Last but not least, Senators Chuck Grassley (R-IA), Dianne Feinstein (D-CA), John Cornyn (R-TX) and Sheldon Whitehouse (D-RI) have co-sponsored bill S.1241 (Combating Money Laundering, Terrorist Financing and Counterfeiting Act), which adds language to existing anti-money laundering provisions to include digital wallets, prepaid access devices, and other ‘digital currency exchangers’ if they contain over $10,000 of cryptocurrency. Also included in the bill are cell phones, flash drives, and computers containing information on holdings which will need to be declared and reported upon entry into the U.S. In other words, the notion of using digital currency to transact anonymously will become much less attractive if this bill is signed into law.

Demand for cryptocurrencies has skyrocketed over the last few months, beginning with Japan recognizing bitcoin as legal currency in April. Other countries including South Korea and Malaysia are reportedly set to follow suit.

Chinese leader Xi Jinping has vowed to combat corruption among China’s business and political elite – a crackdown that recently led to the detention of the CEO of Anbang, China's hyperacquisitive insurance conglomerate. The company has been blamed for a sizable portion of China's merger spree between 2014 and 2016, and which has since been accused of being a money laundering vehicle, of wreaking "havoc" with the Chinese insurance market.

China has always had the lion's share in bitcoins.Even today,it has the largest number of mining pools in the world.Until before few months,it had the largest number of trades carried out in BTC.

Chinese dominated the bitcoin market,manipulated bitcoin price as they wished by just dumping their huge volume of bitcoins,bitcoin exchanges creating fake trade volumes.In few words to say,they just ruled the bitcoin world.

Even today,if they suddenly ban bitcoin mining,a huge issue would arise in transaction of bitcoins all over the world as still other parts of the world does not have enough mining farms.

Even just before few months,bitcoin holders would be keenly watching even small movements in china related to bitcoin.They would decide to buy and sell bitcoins based on china's situations.

That was really a Dragon Era.

But now,after china's strict actions against bitcoin,china is fastly losing its dominance in the bitcoin world.Now,bitcoin world no more consider china as an important factor in deciding bitcoin's future.The only feature which china still have connected to bitcoin is its largest number of mining farms.

You said it.

Because China Economy is booming.  One of the major reason why market down always its because they manipulate the market. they ban Exchanges and Icos but the bitcoin mining industry still there. China has a big impact in the Bitcoin world

If we earn from the sale or exchange of crypto currency, then it is considered a profit and it is subject to taxation. However, here it is necessary to take into account the legislation of the country of location. If the crypto-currency has not yet been recognized by the state as a means of payment and there are no corresponding laws on taxation from this type of activity, then the tax can be paid.

Where is China now?  :o
I don't see any China today in this price surge. This shows what all these countries can afford is to spread FUD and bring a drop for some weeks. In Bitcoin, drops are short lived and price can always recover back. Bitcoin is an international currency wih global reach, no one country can destroy it. China was a major player in the market but their ban or any of their drama wasn't that effective. Bitcoin grown tremendously in last some weeks that now investors want Bitcoin to slow down. LOL!

China is long gone now and there is nothing left about it. So there is no need to discuss about it so specifically.  ::)
We have moved to different levels now and there is nothing that can influence the bitcoin which has been proven now. People are no more scared about forks and they don’t panic during it, that’s the only thing we needed. As the time is passing more awareness regarding bitcoin is being generated amongst the crypto community. See where is china here?

Bitcoin is simply too small to bother the Chinese government much.The Chinese doesn’t recognize it as a threat, so bitcoin actually grows quickly in China,and with the huge population the market trading volume in bitcoin is also high as well as the hash rate.I believe that is why Chain have and influential rate in  Bitcoin.

I think in my opinion they are the leading and popular companies that makes mining rigs there. Also bitcoins users in china is really huge, liked 45% of bitcoin users in the world?  talk about their Mining farms that 3 hectares wide for only mining bitcoins, thats really huge!  Only for now  china had Ban ICO but Still they are the leading investors in terms of industrial products and also in bitcoin.

Bitcoins is so indluential in china because as usual their population and also china is one of the biggest users of bitcoins in terms of their population.

I barely think that bitcoin prices are influenced with china. There was time when china was all over the crypto currencies because of their world power in mining. The time is history now because china themselves put axe on their legs and cut away the potential to run they had. But who cares as we are in safe zone now and no worries for it.


They will start affecting the market again if only they re-enter into crypto world with new regulation. But in that case also they will fluctuate the whole thing at entry point only like the way they did when it was banned from the crypto industry.

Due to the high population in China and hugely, a good quantity of citizens there are holders and traders of bitcoin, which means if they should out of panic sell their bitcoins, it will seriously affect the market price of bitcoin.

Yes, I do agree with what you say. Many people say that CHina will ban exchange as well as bitcoin. But rumours are just rumours. There is no official statement about this and I believe it is just a big fish which was created by the whales so that they can collect more cheap bitcoin

my simple question is ... how to get a lot of results and satisfy also without capital ..

if you have any suggestion please comment  :) ...

Its just simpel answer, as we know china has very large population or citizen, and many of them are bitcoin buyer. If all of them just start buying bitcoin, it affect to bitcoin price. Or all of them start sell and affect also to price. So thats why china has potential with bitcoin price.

As far as I know, China before owns the biggest number of bitcoins in circulation before they're ban earlier this quarter. They have a massive bitcoin mining industry due to their electricity bill being way smaller than other countries. I hope whatever they have would circulate around the world since they can't transact nor trade bitcoins now.

No doubt there was an impact of China on bitcoin price because it was one of the countries having biggest bitcoin communtiy and large number of traders. But the impact is not too strong now because bitcoin managed to survive and grow more even without china.

China is very influencial with the price of bitcoin since there population is high they can easily manipulate the price of bitcoin and since china is the leading manufactures everything in the market  they can easily manipulated almost anything.

because many bitcoin traders from china, china does have a great influence on bitcoin, the smallest news coming from China will affect the bitcoin price.

it depends on how they treat the market, if they are happy to monopolize the market then the government will suppress the altcoins industry or even ban it. but Bitcoin will have a good impact on their economy for sure, this will be an income for their people and take a part in moving the wheels of the economy.

China’s market is one of the largest in the world, as well as its crypto coin market. when many coin holders are forbidden to use their coins, they sell their coins in panic, and those outside of China who hear them also plunged in the FUD. In the end, the sudden rise of supply of a sudden made the price of Bitcoin immediately fallen and FUD became worse

China has a huge population and also a huge population that is using bitcoin. There's a lot of investors and traders there that's why they has a lot of contibutions in bitcoin organization. That's why the bitcoin's value deppressed when China banned bitcoin in their country.

China has a big holding bitcoin there are vast amounts of miners there.

Well, I would say the market WAS one of the largest but no more. Sure, China really had a great influence on bitcoin as so many of the population quickly embraced it and a whole lot of them have been mining from the start, which is why we would see most of the largest mining rigs in China today. So, we will just have to give them that.
However, since the government has probably used that to create lot of FUDs, and they once had the largest market, then obviously from the look of things, there is no one or country that is indispensable and the next available markets obviously over took them.

I don't think so because china influence took not too long, and bitcoin stabled after 1 week of Chinese ban.
I really don't think that china has power to decrease the bitcoin value because there are so many countries those support bitcoins.

Volume of bitcoin trades comes from china. China with the largest population in the whole world also has one of the largest bitcoin community. Thats why china can easily influence the market of cryptocurrencies

As many people know. Why China is so influential on Bitcoin prices? Because China has a large volume of Bitcoin trading. So if the price of Bitcoin in China drops with such a large volume, then Bitcoin prices around the world will also fall following most of China's Bitcoin volume. And now Japan is the biggest Bitcoin holder.

miners china very much. that is why it is very influential in bitcoin value. but it's all over. I think bitcoin rose even without china.

Most of the bitcoin holder are Chinese not only that the largest number of people in china are invested to bitcoin on the various exchanges.
As result, almost 40% - 50% investor and holder of bitcoin are Chinese. So its simple to banned bitcoin china government is enough. 

As this website says
https://www.buybitcoinworldwide.com/mining/pools/
China has 81% of the hashing power of the world. If you were the biggest producer of bitcoins, wouldn't you be the most influential on the bitcoin price? And guesss what, after China, Russia is the next biggest bitcoin producer. This is very good for them.

Why China is so persuasive on Bitcoin costs? Since China has an extensive volume of Bitcoin exchanging. So if the cost of Bitcoin in China drops with such a huge volume, at that point Bitcoin costs far and wide will likewise fall following the vast majority of China's Bitcoin volume

Maybe .. because they (chinese) often make policy about stopping the withdrawal of bitcoin.
For example, I once read an article, written in it that ... in china there are some of the biggest crypto that have announced that they stop all tethering bitcoin and litecoin for a month.
I heard a bitcoin price drop because news from China happens quite often.
that's all it knows, maybe the masters here can explain in more detail.  ;D

Actually china is fast growing immerging economy in world and china started a huge project with one country by the name of sea pack which can make all markets with short distance to china so china don’t want any obstacle in his economy and even they don’t compromise with any deal so think that cab a big reason that china banned bitcoin.

I agree, that there is some influences from China, but the nice thing about crypto currency is that there is literally no way for one goverment or one nation to solely control it. They could pump and dump but that no significant effect on bitcoin as in previous years.

China didn't ban bitcoin, they only banned ICO's and there were talk about banning Chinese exchanges. But they never banned bitcoin

Well their damage was surely limited with bitcoin now trading above 7k then it seems bitcoin has nothing to fear even if China banned bitcoin completely, it seems that every bad news coming from China has a temporary bad effect but a good long term effect.

Can someone please share the news about bitcoin in the philippines. Will the gov't going to remove bitcoin or taxed it? Thanks

China has a very big population using btc. And they are also the biggest miners of btc. So good news or bad news or rumors can easily change the price of btc. Bad news if they want to buy more btc. Or good news if they want to dump. So the regulations is good for everyone

China really don't have an influence, the thing is China is into massive production of things which are distributed all over the world so whatever decision they make on bitcoin sort of affect the market because it affects payments of goods using bitcoins

Its not. Its people that are the problem. They get scared and do what they do, that is where the issues come from and that is why the markets are so easy to manipulate and that is where the system has its biggest faults. There are not enough of the big traders like us out there to keep the boat from these little rocks and tumbles. but, we can keep the price stable and rising for the most part.

Its just a simple question that i want to ask.If you get 0.05 btc. Wat will you do with the bitcoin.Are you gonna spend the btc by buying thing that you targeting or save it more for future.

yes, because in China the price of electricity is so cheap, so many people use it to do the mining, and the more miners, the higher the bitcoin price.
in addition, the china many developers and big investors

China's influence in the world market just shows how powerful the country is. Given this situation, it also controls a fair share of power when it comes to bitcoin price volatility and the number of chinese traders/investors that it has.

China now release bitcoinwhite with more benefit than the old bitcoin, and its community grow so fast
if bitcoinwhite officially be recognized all over the world, china will rule our world

And now? China has absolutely no influence on the direction of bitcoin prices, so China is a stupid country. They give up the pricing power of bitcoin.

You probably do not know China is one of the countries with the most investment in Crypto and also the earliest. In China there are many investors who own large amounts of bitcoin, accounting for nearly one third of total supply.

I want to add that 60% of all mined Bitcoins mined in China

Big players from china play big game they want to buy bitcoin with cheap price after that make price over the sun.
always Chinese need cheap price

Many of investors are there and lots of people living in china and have the knowledge about bitcoin and also using them.
also lots of big investors are located to chinabandbI won't lie china is the most rich and influential country..
The china ban thingy will affect the bitcoins behavior in charts

And some says they wants to maniulate the coins and also create their own coins

I generally recommend that you invest. You can earn on any projects. The main thing is that the project does not turn out to be a fraud.

exactly with their population and with their extensive knowledge of crypto they really make a big impact especially now that their government is
are really trying their best to organize and make laws about these currencies because they feel a threat to their economies, and I hope the government should support its people to be more successful. :)

because they are one of the largest holders of btc before.
and ofcourse one of the largest country.and big part of btc being mined before was frm china.fyi china only banned the exchangers not the bitcoin itself.some chinese still do trading and exchange btc to fiat here in hongkong.

China is the most populous country. There people know value of bitcoin and there communication system very well. Many people use bitcoin . so bitcoin price is very high.

Bitcoin is more popular and widely recognized, Bitcoin will be more valuable. China has a big influence on Bitcoin prices because Chinese use Bitcoin as much. The Chinese government tends to strictly control everything in this country, including personal property of the Chinese people, for tax purposes. The Chinese government is worried about corruption, money laundering by officials. Thus, many Chinese transfer money to Bitcoin to easily manage their personal assets secretly. Chinese people have made Bitcoin more popular.
So, China has a great influence on Bitcoin.

Everything is simple. Firstly, the Chinese economy is one of the most rapidly developing economies in the world. And much depends on the position of China on the world stage. Secondly, the largest percentage of miners is the same in China. It is also a key factor.

Well analysis make it seem that China is weaning its economy off cryptocurrencies. But appearances are not always as they seem. China still exerts a significant influence on cryptocurrency prices.