New (old) FUD coming from China?

[slaman29]

We are unsure with the real situation and if you are saying that people who are in China who use Bitcoin is not being bother with this news, something that really confusing, or it's the negative news that wanted to drag the price down to make it cheaper for bagging, whales are doing all the best that they know to provoke investors to sell out their assets.

Not good, but if you are aiming for long term, it won't affect you since you do believe that the market always has the capabilities to bounce back and recover.

The only people who are bothered with the news right now are US citizens and that's worse because they can be abroad and US laws still aply to them, which makes the South Korea news actually bigger than Chinese ones because if the SK tax authority can pursue citizens abroad just the way US's IRS does, then they'll be the ones in real danger.

Chinese guys at the news: meh.

[Ararbermas]

Another wave of Bitcoin FUD is coming from China as the Chinese central bank claimed that local state agencies have improved tools to fight against crypto transactions more effectively.

The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country.

The People’s Bank of China (PBoC) officially announced on Friday a set of new measures to fight against crypto adoption in China, including promoting stronger inter-departmental coordination in cracking down crypto activity.

https://cointelegraph.com/news/chinese-regulators-unite-forces-to-crack-down-on-crypto

Can this negatively affect the price of Bitcoin or has the market already reacted to it because it is old news?

they will not stop spreading negative information unless if they already obtained enough attention around the internet in order for them to spread the information as well that they already have their own digital currency. Lol
They're very hated with crypto or should i say in bitcoin, wherein even though it's been months since they banned all the activities of it within the country, and they announced the new policy after the replacement of crypto with their own digital currency.. I don't know what's the other reason of china why they still doing the same way at this point, even it's obvious that all of their efforts to shutdown crypto currency is useless because they already out of it.. Lol

[ScamViruS]

China has always created FUDs to dominate the market. China wants to control bitcoin as much as they want. Their newly created central bank fud had had an impact on the crypto market for a period of time, but now the market is recovering strongly again. So now it seems that China's newly created fud will not have much impact on the crypto market.

If you look at the recent market situation, you will understand how fast the market is trying to recover. So keep an eye on the market, what is the activity of others, then you will understand what is actually going on in the market.

[sana54210]

I guess they will not publicly announce that like what El Salvador does

China will keep that for themselves and if they hold bitcoin, they will hide it from others. What they have will for them, what others have will be for them too

Maybe they will still try to manipulate and spreads the negative news to the public. Hopefully, the market will not get the impact from that and can stay calm while preparing for the next thing that can happen.

If they are so much against it, then it would not make sense for them to hold any at all. Sure it could crash when they make these announcements and they could buy cheaper but it doesn't guarantee any method that it will go back up. They are just trusting crypto itself to make it go higher and they crash it to buy more and then let it go up itself and crash it and so forth.

It just doesn't make sense to me. For me to make a good investment I must want something to keep going up forever, and that could only happen if I support it. If china one day comes out and say that they changed their idea and love bitcoin now, I may believe it, but that is the only way, I do not believe they hold any right now.

[zeuner]

This is a bigger one, they're double downing on banning crypto altogether as the articles says that they're finally banning crypto transactions so it's most likely that they're doing a lot of stuff.

With China being pretty serious about quitting BTC, the price afterwards reflects the value with the China-related business being mostly removed.

Who knows whether the resulting BTC will suffer long-term damage or even be more resilient afterwards.

[Dave1]

This is a bigger one, they're double downing on banning crypto altogether as the articles says that they're finally banning crypto transactions so it's most likely that they're doing a lot of stuff.

With China being pretty serious about quitting BTC, the price afterwards reflects the value with the China-related business being mostly removed.

Who knows whether the resulting BTC will suffer long-term damage or even be more resilient afterwards.

History tells us that bitcoin is so resilient, even the pandemic, the price didn't stop. We suffered a big meltdown -60%, but we have bounce back already X times from the pandemic. What more from the Chinese FUD?

So let the Chinese ban or quit on bitcoin, we can't really stop their government from doing it. But if they think that it will have a big impact on the price, they are all wrong.

[michellee]

I guess they will not publicly announce that like what El Salvador does

China will keep that for themselves and if they hold bitcoin, they will hide it from others. What they have will for them, what others have will be for them too

Maybe they will still try to manipulate and spreads the negative news to the public. Hopefully, the market will not get the impact from that and can stay calm while preparing for the next thing that can happen.

If they are so much against it, then it would not make sense for them to hold any at all. Sure it could crash when they make these announcements and they could buy cheaper but it doesn't guarantee any method that it will go back up. They are just trusting crypto itself to make it go higher and they crash it to buy more and then let it go up itself and crash it and so forth.

It just doesn't make sense to me. For me to make a good investment I must want something to keep going up forever, and that could only happen if I support it. If china one day comes out and say that they changed their idea and love bitcoin now, I may believe it, but that is the only way, I do not believe they hold any right now.

Maybe they will still do that and think they can use the same scenario to make the market crash. But hopefully, they know and remember that no matter how bad the news they created, the market will go strong and hold the bad news and if people can remain calm while reading their bad news, it will not happen anything worst. Maybe the market will have a correction because of that bad news, but it will be back increased and who knows, that can be a good step to lift the price and boost the price to the next high price.

We never know if China holds bitcoin or not because they will never announce it in a short time. They only want to buy bitcoin at a low price and hold it for a while until the price comes back to the high price while preparing it to sell at a high price. But we do not know what their next scenario and we should be ready for that.

[sana54210]

Maybe they will still do that and think they can use the same scenario to make the market crash. But hopefully, they know and remember that no matter how bad the news they created, the market will go strong and hold the bad news and if people can remain calm while reading their bad news, it will not happen anything worst. Maybe the market will have a correction because of that bad news, but it will be back increased and who knows, that can be a good step to lift the price and boost the price to the next high price.

We never know if China holds bitcoin or not because they will never announce it in a short time. They only want to buy bitcoin at a low price and hold it for a while until the price comes back to the high price while preparing it to sell at a high price. But we do not know what their next scenario and we should be ready for that.

I would assume that if they were doing it in a hidden way, they wouldn't want their countrymen to be absent from it neither. A bad news is something that I can understand but making bitcoin totally illegal in a nation while also trading it yourself as the government of that nation doesn't sound like something that would be quite possible. Obviously it is something that may happen but I doubt that it is the only way to make money in that situation neither.

I am not saying that they are not doing it, they may do it and we will never hear about it unless some whistleblower comes out about it, but it is still not looking like a possible thing, it is improbable but not impossible in my mind.

[Hamphser]

Another wave of Bitcoin FUD is coming from China as the Chinese central bank claimed that local state agencies have improved tools to fight against crypto transactions more effectively.

The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country.

The People’s Bank of China (PBoC) officially announced on Friday a set of new measures to fight against crypto adoption in China, including promoting stronger inter-departmental coordination in cracking down crypto activity.

https://cointelegraph.com/news/chinese-regulators-unite-forces-to-crack-down-on-crypto

Can this negatively affect the price of Bitcoin or has the market already reacted to it because it is old news?

they will not stop spreading negative information unless if they already obtained enough attention around the internet in order for them to spread the information as well that they already have their own digital currency. Lol
They're very hated with crypto or should i say in bitcoin, wherein even though it's been months since they banned all the activities of it within the country, and they announced the new policy after the replacement of crypto with their own digital currency.. I don't know what's the other reason of china why they still doing the same way at this point, even it's obvious that all of their efforts to shutdown crypto currency is useless because they already out of it.. Lol

Get used to it on which they've been always like this on where they do make out decisions which is neither totally opposing or in positive side.No one really knows on whats up into their minds because it always been

like this get back in the past which upcoming similar decisions could really happen in upcoming years to come.This isnt limited on China but also in other countries as well not only on legal matters but also
with some personal FUDs came from other people specially known ones.

Expect the unexpected and place your position whenever you do see an opportunity to buy cheap.

[michellee]

Maybe they will still do that and think they can use the same scenario to make the market crash. But hopefully, they know and remember that no matter how bad the news they created, the market will go strong and hold the bad news and if people can remain calm while reading their bad news, it will not happen anything worst. Maybe the market will have a correction because of that bad news, but it will be back increased and who knows, that can be a good step to lift the price and boost the price to the next high price.

We never know if China holds bitcoin or not because they will never announce it in a short time. They only want to buy bitcoin at a low price and hold it for a while until the price comes back to the high price while preparing it to sell at a high price. But we do not know what their next scenario and we should be ready for that.

I would assume that if they were doing it in a hidden way, they wouldn't want their countrymen to be absent from it neither. A bad news is something that I can understand but making bitcoin totally illegal in a nation while also trading it yourself as the government of that nation doesn't sound like something that would be quite possible. Obviously it is something that may happen but I doubt that it is the only way to make money in that situation neither.

I am not saying that they are not doing it, they may do it and we will never hear about it unless some whistleblower comes out about it, but it is still not looking like a possible thing, it is improbable but not impossible in my mind.

Ah, there are so many scenarios about what they could do behind all of this and unfortunately, we really do not have an idea about that. We know that they are very strict with their country and once their government announces something, all of their people must follow without rejection. The government can block all information that will send out of their country easily because it should pass by the government.

It seems it is hard to predict what their government will do next as there is no clue at all. We'd better prepare ourselves with any conditions that will happen next, especially if they come back with another negative news about bitcoin. Hopefully, that will not impact the crypto market.

[yohananaomi]

China has always created FUDs to dominate the market. China wants to control bitcoin as much as they want. Their newly created central bank fud had had an impact on the crypto market for a period of time, but now the market is recovering strongly again. So now it seems that China's newly created fud will not have much impact on the crypto market.

If you look at the recent market situation, you will understand how fast the market is trying to recover. So keep an eye on the market, what is the activity of others, then you will understand what is actually going on in the market.

It looks like what China has done several times and it's true what you said, maybe the effect is not like when they first banned it, because now many people understand what China means. China must be recognized as the biggest center of mining and they have certain goals for it, but it seems that the market and the people themselves have not responded positively to it, so that what they want so far has not been achieved.

China will continue to do the same thing at every opportunity because their intentions have not yet been achieved properly. so there will be things like this prohibition in the future, until the desired goal can be achieved. because we know that China is an expert in making replicas of the original, is there a specific purpose about bitcoin? We can't know, only time will tell.

[Questat]

China has always created FUDs to dominate the market. China wants to control bitcoin as much as they want. Their newly created central bank fud had had an impact on the crypto market for a period of time, but now the market is recovering strongly again. So now it seems that China's newly created fud will not have much impact on the crypto market.

If you look at the recent market situation, you will understand how fast the market is trying to recover. So keep an eye on the market, what is the activity of others, then you will understand what is actually going on in the market.

It looks like what China has done several times and it's true what you said, maybe the effect is not like when they first banned it, because now many people understand what China means. China must be recognized as the biggest center of mining and they have certain goals for it, but it seems that the market and the people themselves have not responded positively to it, so that what they want so far has not been achieved.

China will continue to do the same thing at every opportunity because their intentions have not yet been achieved properly. so there will be things like this prohibition in the future, until the desired goal can be achieved. because we know that China is an expert in making replicas of the original, is there a specific purpose about bitcoin? We can't know, only time will tell.

They can replicate bitcoin but they can never replicate the success of bitcoin. What china did is a complete ban for crypto, everything related to crypto is now illegal, and once china has the biggest miners, but they ban it so mining investors transfer to a new location while some stopped their business.

With this action, they are just taking the opportunity from their people to profit from crypto and to help the ecosystem grow, however, we should not lose hope as in reality, crypto will grow even the biggest country will not support it.