Does China have a large part in the world of cryptocurrency?

[yishak]

Yeah China is definitely the huge cryptocurrency currency impactor. Many miners are from there due to the super cheap electricity fees there. Also the government decisions on cryptos has greatly affected the price of some cryptocurrencies.

[vit05]

Miners would still be able to operate.

[StrongHandsProfit]

China accounts for about 20% of the cryptocurrency volume in the world to date. They just sold off a majority of that in irrational panic so the impact they can have on BTC now isn't that much. Litecoin is different. They own most of that.

Read this article about their volume in crypto. It settles the mind considerably

https://www.c[Suspicious link removed]m/2017/09/11/bitcoin-price-falls-on-reports-that-china-is-closing-local-exchanges.html

[ObscurePen]

A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?

Why did China do that? Was there some reason behind it? No wonder, I have seen many ICOs and other companies selling themselves in the Auctions section as of late. So that is why the price has gone down. But I don’t think that Bitcoin went down nearly 1000$ just because China banned ICO activities. Don’t get me wrong, China has a massive amount of influence in the cryptoworld. I am pretty sure that China has the largest amount of total mining hash - power. So China does have some influence in the price of Bitcoin, but will it really cause a price drop of around 1000$? I think there are more factors to this price drop. Anyways, at the moment, the price seems to be rising back.

[Qunenin]

China is a game changer of bitcoin price. when China like to ban the bitcoin then sure bitcoin will be ban. But now china will never down anything wrong. Because we accept China has a large part in all crypto currencies, and now all over the world's people want to use crypto and also trust on them, then suddenly it will be hard if China ban them. It is a talk of trust.

[kamikadze69]

Of course. for example at this time. they made little statements about the prohibition of ICO in China. and instantly the bitcoin price is directly dumped. so China must have great power in the world of cryptocurrency.

[Fancyax]

If you do a little search you can notice that biggest wallets and biggest exchangers are Chinese. Biggest mining farms are located also in China. So China have a strong impact on bitcoin future.

[Mike Mayor]

A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?

I think it is just the movement of assets. Wait until the currencies from the exchanges and other places come back. Then the price will go back. Not then though the price would have increased a bit so we might see $6000 soon. Also most of these people making these outrageous statements like Bitcoin being fraud, these people are protecting their I interests. Why is this bad anyway ? A good trader can work both ways. A good trader knows how to take advantage of these situations both up and down. People focus so much on going up they forget that going down can make you profit too.

[cyberpitstop]

A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?

China is an obvious main player in crypto, with Bitmain having a basically mining monopoly and a ton of other miners ending up on China due the cheap electricity and cheap labour essentially.

This is nothing but more FUD and more insider trading. Look at the PBOC incidents last summer. They were able to dump the market, and the market recovered and we went to an ATH. This is the same all once again. Weak hands will get shaken, strong hands will hold, insider traders will get a ton of BTC from the panic sellers. The same cycle always repeats on all markets.

This is the smartest post I have read in days!! This is the same "cycle" that constantly repeats itself over and over again in the crypto space always has always will.

[youdacapt]

A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?

China is an obvious main player in crypto, with Bitmain having a basically mining monopoly and a ton of other miners ending up on China due the cheap electricity and cheap labour essentially.

This is nothing but more FUD and more insider trading. Look at the PBOC incidents last summer. They were able to dump the market, and the market recovered and we went to an ATH. This is the same all once again. Weak hands will get shaken, strong hands will hold, insider traders will get a ton of BTC from the panic sellers. The same cycle always repeats on all markets.

This is the smartest post I have read in days!! This is the same "cycle" that constantly repeats itself over and over again in the crypto space always has always will.

I do not understand why the China government continues to spread negative news and does not keep trying to make strong rules. they must understand that a large crypto currency market exists in their country, if they prohibit it will automatically affect the economic structure of society explicitly. China has everything for bitcoin especially for traders and miners.