China Has Something to Do with Bitcoin's Price Increase After All

[carriebee]

Maybe it's a coincidence that time China explains about blockchain technology in their people is the time that bitcoin price is pump in the market which we can't say that China is the reason. We know that China is not totally support in crypto even before so I think China don't is not the reason of surprise pump yesterday. Yes we know that there's a lot of bitcoin miner in China but we can't say that they are the reason of pumping in the market.

[qwertyup23]

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

Of course China caused a significant impact on the increase of bitcoin's price in the market.

Be reminded that the price of cryptocurrencies depend on various factors (e.g. political agendas/prohibitions, financial situation of countries, acceptance among countries, etc.) especially considering that China has the highest population which makes them the perfect candidate for miners and users. Along with its prohibition or acceptance, it will determine the outcome of the price in the market.

Before its announcement, the price of bitcoin was sitting around $7,500 and after Xi Jinping announced the acceptance of bitcoin, not only its price increased but also the stocks overall.

[angrybirdy]

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

After China have announce with legal using bitcoin and blockchain technology we are still waiting which one country want to adopt and legal for using bitcoin transaction again? have any other bigger country like United Kingdom, Japan, North Korea and Singapore want to adopt and legal bitcoin as transaction payment or not, if have many country available using bitcoin and altcoin as legal transaction payment I think will easy bitcoin raise to higer price.

China was clearly pointing about adoption of blockchain technology, they dont talk about exactly to bitcoin.
And, there are no other countries who are still making a move to legalize cryptocurrency, but they remain as neutral. They are still waiting for the right time as of now

There is no doubt China is the major reason behind the recent bitcoin price boost. China's president announced the Chinese government plant to adopt the blockchain technology and that is enough to change the market conditions. The people would be thinking China will be back again.   

I don't think that this is the only reason for bitcoin to increase its price. There are more other reasons why bitcoin price suddenly increase. It is indeed that the announcement of Chinese President make an effect, but it is not the main event for the recent pump that happen in the market.

[Eugenar]

The fact that cryptocurrency especially bitcoin is not emerging in China, in my opinion, it is not just china that contributes nowadays to the price increase of bitcoin, since most of the time, people around the world are just silent about their investment. They just need a bit of a price increase to make them feel that it is now safe to invest as the market has a reason why to. But in terms of leading the price increase, yes the op is correct, as we can notice, after the news concerning China adoption to blockchain, we can see the market price increase after all.

[Meowth05]

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

China has something to do with Bitcoin's price increase. No one denies that. But, to be clear, the recent Bitcoin price increase is not solely about China. China was not everything to what happened. I don't like hearing statements saying China is the one that caused the pump, China is the reason why Bitcoin's price increased, China caused the massive dump, China is the one that controls the fate of Bitcoin because the largest mining farm is in China, etc. What do all these imply, that China is lording over Bitcoin? Or Bitcoin is in China's hands? I don't share this.

China has really a huge impact in manipulating Bitcoin's price, remember way back 2018 they banned exchanges and other transaction related with Bitcoin, it really hit hard enough to make a downfall for crypto. And recently, president of China has endorsed Blockchain techology in his speech in fact perhaps this is the reason of sudden fluctuation.

[ufaiz50]

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

This refers to the adoption of the blockchain and the launch of the digital currency. I think that is the most appropriate way to increase mass adoption and community, so that people will understand the benefits of digital currency. But isn't bitcoin prohibited? I think they provide an understanding of blockchain technology.

[stompix]

非常有意思，扎克伯格在美国说中国对世界经济的威胁，所以美国要做Libra，而中国再说美国对世界经济的威胁。这也是为什么要去发DCEP法定数字货币

其实是这样，在中国从业者看来，区块链技术对于Bitcoin来说就像特洛伊木马，想想越来越来多的人知道国家支持区块链技术，那么他们就一定会和比特币打交道，从而购买比特币。这也是大家所期待的，有期待价格就会上涨。

I usually report messages in other languages straight awy but for the first time in months, I actually see somebody that if not Chinese at least speaking Chinese commenting on news from China. Unfortunately, nothing too deep but you said something weird:

In fact, in the eyes of Chinese practitioners, blockchain technology is like a Trojan horse for Bitcoin. If more and more people know that the country supports blockchain technology, then they will definitely deal with Bitcoin. To buy bitcoin.

How does this even qualify as a trojan horse?

Other than that, if you're still around and read this, can you really confirm this news and the screenshot mentioned here:
https://bitcointalk.org/index.php?topic=5196493.msg52903637#msg52903637
was indeed about bitcoin?

[Murat]

From the very beginning, China is a big name of this platform, There are a lot of Chinese investors who are directly involved with this platform since the early period, In recent time, China government has published a positive statement regarding Bitcoin and Blockchain system, I think they are taking it very seriously and they have realized that their people already involved here, so the government is taking some positive initiative towards this platform, not only that but also they are making a plan to create an own cryptocurrency, So this type of news definitely work as an influential factors, So it's very clear that China has a positive impact on this Bitcoin's price.