China & $10K Bitcoin

[Svelto]

IMO. That is the thing about the rich people. They have the financial power to manipulate the market especially in crypto. I remember during the period when there are so many fuds and bad news from China, these people can even make the news reporter come out with fake news.

[fulmetal08larz]

It could be possible that the Chinese people are behind the recent volatility in market. They have a huge population in their country and the volume from their trades are affecting the rise and fall of bitcoin's price. But, it does not mean that they can control the market. Bitcoin is across all countries and there are those big companies who are investing in bitcoin discreetly. Most Chinese are business minded and they have a belief that even though the profit is small, in the end, it's still a profit.

[Argoo]

I know most of you agree that China was behind the drop of price to $3500, then now its $10k..Did the Chinese gov just triple their money while we are watching as suckers?

There is no question! Yes they did.
It was well planned and it worked.

  Sure. Master of the game always wins. China is the biggest miner in the world and it also bigest hardware manufacturer, they can do whatever they want go get profit. Who feeds a girl dances with her

China really has the most numerous equipment for mining bitkoyna and a large number of miners to extract bitokoyn. However, it turns out, the policy of the Chinese government first to ban mining, and then use electricity for this, is not entirely reasonable. As we could see, many miners began to look for countries with a suitable climate, electricity price and loyal legislation with respect to the crypto-currency, where it would be possible to obtain bitokoyn profitably. In particular, some of them settled on the Quebec provinces in Canada for such mining. It seems to me that China loses its potential due to its stupid position with bitcoin mining.