Bitcoin Forum

There are a lot of rumors about the Chinese market recently.
I wonder what's true!
I'd appreciate it if you let me know.

what rumors are you talking here?the banning of exchange?that the Chinese government bans 19 big exchange's recently?to push their own Currency?well those are still rumors and until there are some clarification from the government this will remain rumors so let's wait until further notice.

It's rumours, so definitely there's no truth in it.

I'll give you one example, Bitcoin had a wild weekend, briefly topping $10,000, after China’s Xi sang blockchain’s praises (https://www.cnbc.com/2019/10/28/bitcoin-btc-price-climbs-as-chinas-xi-jinping-embraces-blockchain.html). But the following weeks, Bitcoin sinks to lowest level since May, falling $3,000 in a month as China accelerates crackdown (http://hhttps://www.cnbc.com/2019/11/25/bitcoin-sinks-to-a-6-month-low-as-china-accelerates-crackdown.html).

So a piece of advise, take any news from China with a grain of salt.

The trouble is that a lot of automated keyword trading buys and sells when they see the words "China bans..." or "China approves..."

And as long as ordinary traders follow the same signals, it will keep on happening.

You're literally asking us to help you. Maybe, just maybe, actually tell us what the actual rumor(s) are so we know what you're referring to?  ::)

News sources write FUD articles for improving their rating. Unfortunately, there is more than 50% of such news and sometimes it is difficult to filter. It is a pity that the yellow press is not punished for spreading rumors!

i haven't seen anything recent, they belong to at least a couple of months ago and none of them are anything new. they are repetition of the same FUD that has been around for as old as 2012 where they either fully lie or exaggerate what the Chinese government is doing with their regulations.
not to mention that the news most of the times has nothing to do with the government, it is some statement from some random person the news sites are turning into official news.

That's only a rumor and we don't if its true or fake that's why we need to do a research first before trusting those people who are spreading this news.

And surely it will make changes on market if its true and definitely it will determine if it will go up or down.

Rumors about what the Chinese government will do have been around for years. China is already such a country that it will always raise controversy. In my opinion, the rumors that appear are pure speculation for price manipulation. Until there is no official information, there is nothing to worry about.

Everything is true and everything is a lie, it depends on which angle you look at. All relevant media in China is under the complete control of the Communist Party, you need to understand that they are using that media to their advantage.

- The Chinese president mentioned the blockchain, this is true+price is gone up, but Bitcoin and blockchain are not the same. Long-term effect of this
   news are actually meaningless for Bitcoin.
 
- Chinese authorities have reportedly closed several dozen crypto exchange offices which operated on the black market, true or false, totally irrelevant to
  Bitcoin globally.

- Binance returns to China (allegedly), they also launched their p2p trading in China (BTC,ETH,USDT against Chinese Yuan). This is partly true, but it also
  has no effect on Bitcoin in US or Europe.

- China is preparing to launch its own cryptocurrency, some say it will be backed by gold. Another centralized currency that cannot become globally
  accepted.

Why worry about something no one outside China has any influence on?

There is no rumor out there about the Chinese bitcoin market, they are planning to implement blockchain and they are planning to come out with their digital currency and it has nothing to do with bitcoin and hence the rest are just stupid theories that have no substance, do not follow all the news articles which come up with their version of the story to have more viewers thereby having more revenue and for that they will twist and turn the news to create a wave.

Well, people sure are scared of price crashes that could be potentially be caused by a Chinese announcement. Though yes, China sure has a significant influence on bitcoin's price(for some reason people exaggeratedly react to Chinese announcements), but it sure is counter-productive to be overly-worried on stuff that they really have zero control over. Most of the time, the worry is more from the people who are overly invested in bitcoin/cryptocurrencies; and to accompany with that, little to no investment knowledge.

What are the rumors you saying in the chinese market?

Is it china banning big exchanges so that they have no market competition and attract investors' attention to their coins.

There are many rumors, like there is also a secret sector in the Chinese government that has invested huge sums of money to control the market.

how can I help if I don't know what you mean, You have to explain the rumors what you mean, rumors about bitcoin bans or rumors about blockchain adoption, because a misunderstanding can lead to different answers.

I think it's understandable what rumors OP has been talking about because recently there are lots of fake news circulating around in this forum. And one of that rumor is the raid of the office of binance and when CZ confronted about it he denied the allegations. Although there are no effect of the price whatever happens to China anyway.

When you listen to news especially from China just do the opposite of what comes to your mind first.
China FUD equals buy , China Fomo equals sell.

The rumor you are referring to isn't clear, how can we answer your question. Many rumors that occurred in China today, at least mention one rumor that you want to submit. ???

It must be about the Shanghai office being raid by the Chinese government and then CZ claimed they don't have office there but then another exchange said they do have an office in Shanghai, I think it was OkEX who said it.

A lot of things happening with the Chinese market related to crypto, it matters to us since this country has the biggest crypto investors too. And so knowing which is legit news site would be much appreciated also as we can't just rely to the tweets.

i think we're all pretty curious what's really happening on the ground in china. re the ongoing government crackdown, for one thing. for weeks, stories have been emerging about crypto platforms being shut down, operators being arrested, exchanges cutting off chinese residents from service. meanwhile, the president is hyping up "blockchain, not bitcoin" and the PBOC is planning to launch a [surveillance-friendly] stablecoin.

the government is obviously on some kind of rampage. they are consolidating the domestic crypto market. it looks like things are changing very quickly. meanwhile, plebs like us can only glean what we can from people like @DoveyWan. (https://twitter.com/DoveyWan)

I agree with those who pointed out that you should say which specific rumors you are talking about. In general, it's all a matter of fact-checking. If you see a piece about something and you are not sure what to think of it, you should do the following:
1. Make sure it's posted by a famous website, not a no-name.
2. Check the sources. What is the article referring to? If it's an interview, you can check it out, if it's info from an official government website, then it is to be trusted (unless it's about something that the government might not want to reveal).
3. Is it realistic? If it's too dystopian or too good to be true, it's probably fake.
Finally, make sure you can distinguish facts from opinions, emotional evaluations and other things like that.