the relationship between China's ban on ico and market prices

[alberto hiro]

why after the Chinese government forbids ico, the state of the market so immediately changed, whether the influence or the relationship between china and decision

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[edynolan]

it's a panic in china that ICO is now banned, for now the price in the market will be slightly down just for some time. all will return to normal in the future

[BitcoinHodler]

why after the Chinese government forbids ico, the state of the market so immediately changed, whether the influence or the relationship between china and decision

- why did price fall after Chinese public bank said they want to inspect exchanges that were working illegally and laundering money?
- why did price fall after Chinese government suspended the illegal websites called exchanges that were doing a lot of shady works!?
- why did price fall after a small percentage of miners started supporting Bitcoin Unlimited?
- why did price fall in July before the upcoming fork of bitcoin (the SegWit fork)?
- why did price fall after halving?
- why did price fall after bitfinex was hacked?
- why did price fall after Mike Hearn said bitcoin is dead?
- ...

and a lot more whys? and the answer to all of them is one thing: FUD and idiotic panic

[Asyifiah]

since a long time ago ,china is always full of controversy over anything related to cryptocurrency.
somehow many people fear if china give a warning.
whereas a few years ago Bitcoin was also banned in China.

[BitcoinHodler]

since a long time ago ,china is always full of controversy over anything related to cryptocurrency.

actually there has never been any controversy regarding China and cryptocurrency! but for some reason people love to turn anything that comes from China into one.

in reality China is doing what any other country has already done or should be doing. they are protecting their people from scams!

[BillyBobZorton]

why after the Chinese government forbids ico, the state of the market so immediately changed, whether the influence or the relationship between china and decision

It's just general panic in the cryptocurrency ecosystem. Anything that has to do with a ban is going to trigger people into selling, even if has absolutely nothing to do with Bitcoin.

In fact, this is actually good for Bitcoin. Once the market realizes the fact that this event is not relevant to BTC, all the ICO money is going to go back to BTC, not to some hyperinflating fiat, so just hold and buy the dip, and dont be the one that falls for the FUD.

[Asyifiah]

since a long time ago ,china is always full of controversy over anything related to cryptocurrency.

actually there has never been any controversy regarding China and cryptocurrency! but for some reason people love to turn anything that comes from China into one.

in reality China is doing what any other country has already done or should be doing. they are protecting their people from scams!

this is great for new innovations in ICO cryptocurrency ,
developers can make good innovations in the future to convince investors. lately there are many ICO Scams. as a country with high technology , china should make regulation about ICO based cryptocurrency.

[aoluain]

I think it might be good for new positive legitimate innovations in
cryptocurrency and hopefully they will be able to get proper investments.

The only thing is we dont necessarily want "regulation" but if we
as a crypto community cannot regulate it ourselves, then this will happen.

[yugyug]

as of this time, the ICOs were temporarily ban from China, the reason is they are still filtering out on which them are scams and which of them are legit. This ban is not permanent so let's wait the right time for the lifting of the ban. As the ICOs were restricted momentarily, we will experience some lousy trading activity of cyrptocurrency and some will panic about the outcome of this ban but the truth is this is just a temporary, few weeks from now crypto trading will be back to normal, so just relax and hodl on your coins.

[Diablesfunis]

why after the Chinese government forbids ico, the state of the market so immediately changed, whether the influence or the relationship between china and decision

It's just a panic situation in china right now because of the regulation. The people in china afraid that thr government might chase after them in trading crypto after this. Things will be back to normal in a few weeks.

[Scorpion]

Love that prices are low but hate that it's because of a supposed Chinese ban on ICOs. China had banned Bitcoin for periods of time and people in China still utilized it.

[soy]

China will probably revert its decision to regulate ICOs without banning them. This will just remove all Chinese scams that are polluting the ICO market with totally abrasive performance promises, keeping only the ICOs actually viable. The current decline is only the result of a panic sell of the most frustrated investors. Perfect, the cryptowolrd does not need them.

[Hydrogen]

Its normal for things to decline after bad news.

Here's a chart of the DOW (US stock market average) after jetliners crashed into the world trade centers in the attacks of 9/11/2001.



There may not be much of a direct relationship between tragic & unfortunate terrorist attacks and stock market performance.

Bad news may not need to be strongly related to have an impact.

[iram1011]

With such a small user base, such negative news can indeed bring a crash in cryptocurrency market. There are so many noob investors who can easily get panic. China is indeed the biggest market for cryptocurrencies and such news definitely would have negative impact on the market. Also, lately market was being pumped. Thus, correction also intensified the crash. Market will recover soon. Such crashes in between pumps are definitely needed.

[warrior333]

How this ban might affect the market? The Chinese government can do with the users who will trade and hold stocks on exchanges and wallets such as Japan? The Bank account of the user from China will come the yuan. China wants to ban circulation of the yuan?

[Doms]

Earlier this year, the People's Bank of China made news by suspending operations of some exchanges. That temporarily pulled the price down, but was by no means able to stop bitcoin from reaching new highs. Now another news from China pulled the price down again, but this should be another of those times where bitcoin would recover quickly. If anything this should favor bitcoin since most of the funds should revert back to bitcoin from those seeking a stable and safer haven.

[talkbitcoin]

this was mostly good timing. you can almost call it coincidence.

after the big bitcoin price rise of late, there was an urgent need for a correction. so it happened, like always and price came down a little in the first day ($4500). but then the news about China came out and the FUD machine started up and the panic began ($4001) the day after the correction was done.

and now it seems like market is recovering pretty well.

[stompix]

China banning stuff...again and again.
China has been banning things since 2013 and it's the same old story.

They ban something but the law is not clear and in fact they haven't banned anything but they plan on banning something.
In two week we will hear that tokens are legal in China and the news was a mistake and in two more they will be banned again.

Rinse and repeat. In the meantime you can start buying some even if you are in China.

[Chrystora123]

why china government banned ICO there, I think the reason is that there is so much Scam ICO, so the government of china attempted to protect their people Bitcoin from that scam ICO and fraud. we must think positively about what happened there and why the bitcoin price down, I think because panic sells some traders which hear china banned ICO..

[iram1011]

why china goverment banned ICO there , i think the reason is because there is so much Scam ICO , so the goverment of china attempted to protect their people Bitcoin from that scam ICO and fraud , we must think positive about what happened there ,  

and why bitcoin price down , i think because panic sell some trader which hear china banned ICO ..

People who want to invest will invest regardless of the ban. There are plenty of ways to escape government regulations when it comes to internet. And the market has already recovered from the drop. This shows market is getting mature now.