Bitcoin banned in China. Did it affect the price?

[jaocoincrypto18]

Bitcoin's buy and sell value dropped dramatically over the weekend. Has China had something to do with it?

We could not say it was just coincidence after China moves to ban the bitcoin, altcoins and ICO then suddenly bitcoin and other crypto currencies value drops at a considerable margin therefore it is very obvious that China affected the price because many Chinese people investor will follow their government mandated by withdrawing or selling their bitcoins and altcoins to protect their resources.

It is a sure thing that China have an influenced and power to moved the bitcoin and other crypto currencies because there are lots of Chinese bitcoin investors will support their government and sell their bitcoins infecting other non chinese people that easily panic and decide to sell their bitcoin too making the selling demand to be at high last weeks.

[1714852045]

1714852045

[1714852045]

1714852045

[1714852045]

1714852045

[Frank0209]

Bitcoin is not banned. China only ban investing ICO project. As you can see the price of bitcoin dump to 3k$ few days ago is the result of this case. Altmost exchanger in China are closed. But I think we no need to worry cause China can't affect to Bitcoin price all the time, it olny happen in a shot period

[pedrog]

Why do people keep saying Bitcoin is banned in China? Exchanges and ICO are banned - not BTC. Two completely different things.

There are rumors of bitcoin network disruption to be implemented in China, if they are banning ICO and exchange, next step will be a total ban, this may have a huge short term impact on the market.

Be prepared.

[affandi]

Obviously this has something to do with China, but the most chaotic situation is the bad issue of people who hate bitcoin and want to destroy it. But it's not long, because now the bitcoin price has started up again and has started approaching the highest level this month. And to the people who panicked yesterday sell his bitcoin, is currently mourning for his stupidity.

[btcdepo]

Bitcoin has never been banned in China and will never be. It seems like those little games are being played by China to speculate crypto currencies as they are the one dominating crypto market.

[jc89]

Bitcoin's buy and sell value dropped dramatically over the weekend. Has China had something to do with it?

China definitely have some part in it. But no need to worry about the events during the past week. We will be back on track in no time and this week might just be the start of the rise. And the drop is actually normal and in fact healthy for btc.  If you do some research, you'll see that these things are just normal and have happened in the past years.

[lighpulsar07]

Bitcoin's buy and sell value dropped dramatically over the weekend. Has China had something to do with it?

yes chinese users were panic selling because the ICOs and bitcoin exchanges were banned so, their bitcoin can't be locally exchanged in china that's why they are panic selling and price crash although the news of banning ICO and bitcoin exchanges did affect the price and also the bitcoin is fraud comment of jamie dimon of chase bank contributes the price crash.

[Fuhre]

seems to have a very clear impact on bitcoin prices when China bans ico, as China is one of the largest bitcoin markets. But that does not last long, bitcoin prices rise again.

[Simss]

it is the effect of the news spread chinese, happened panic where which cause many people sell their bitcoin so make the price fall. but look now, I think everything is back to normal.

[Pejoh Asu]

The biggest bitcoin user according to the news is china, but i'm sure even though bitcoin in banned chinese users will continue to be bitcoin users, this is because they feel bitcoin is profitable and too easy for bitcoin business even though it is banned, and I'm sure this will not have a big impact on bitcoin prices.

[BITDV]

Bitcoin isn’t banned in China, ICO is, maybe they’re planning to join in either directly or indirectly in this field and they are restricting access to this so they can control it.
For further reading ( https://www.coindesk.com/chinas-ico-ban-understandable-reasonable-probably-temporary/ )

[Phildo]

Yes of course. because china is one of the big player in bitcoin. the price will surely fall due to market sentiment which indicates a negative response caused by FUD. but after some time Bitcoin surely will show better growth ever.

[umbara ardian]

there must be. because china is the center of the circulation of bitcoin and china has the largest bitcoin mine of course this influence. but there's no need to worry that china is part of bitcoin whereas bitcoin countries have been massively used bitcoin will be the world's largest digital currency value in the near future and this shows China is not something to be afraid of.

[ivrynx]

yes it did affect the price of bitcoin, if we look back,when they just banned ICOs, bitcoin's price went down, even with the shutdown of exchanges, bitcoin's price went down, since china has a large population that uses bitcoins, their move did had an impact on the price of bitcoin, since it did not only affect china, it affected the whole world, more people with weak hands, started to sell out their bitcoins because of the news. i think now, that the price is rallying up, it is already high and some of us could not even afford 1 bitcoin, if china is still in the game, the price would be much higher, since a lot of them are in to trading on exchanges and i think only a few are hodlers. we should also consider the fact that china has a great influence, especially in asia, a lot of countries have chinese nationals and still they follow what the chinese government is saying,i think it is because of the reason that back in china, they are forced to obey rules and that might be an influence to them as well. in general, the chinese do have an impact, but it can be minimal, if bitcoin users, will not let what happened in china to affect them, we all know that bitcoin will still rise and will survive even with all the negativity, we should just get over with china and move on, if they do not want to have bitcoins, it is good news for most of us, since we can buy those bitcoins, that they sold for a much cheaper price.

[moataz_ansary]

In my opinion Technical analysis is my best indicator for that
And chart always say what news will do
And my TA says that bitcoin will start retrace now
May be till 3500 -3800$
And on that prices we will see what's going on again

[bob123]

Well i think it did indirectly affect the price.
The News of Chinese Exchanges closing because of Chinese "Regulations" about Bitcoin Made a Lot people Panic.
This had the small price Drop as result.
But nothing Bitcoin couldn't recover from.

[FACE 2 FACE]

Bitcoin's buy and sell value dropped dramatically over the weekend. Has China had something to do with it?

Yes, China has a very strong influence on the price of bitcoin. It's true. But I think it's temporary. Some time will pass and the situation will stabilize.

[gajebo]

Bitcoin's buy and sell value dropped dramatically over the weekend. Has China had something to do with it?

prices recovered after the Chinese ban, and now korea, but there is no decrease and no effect at all. this is great for crypto.

[btcpt]

bitcoin will recover slowly, if china is still in the game, the price would be much higher, since a lot of them are in to trading on exchanges and i think only a few are hodlers. we should also consider the fact that china has a great influence, especially in asia, a lot of countries have chinese nationals and still they follow what the chinese government is saying

[daronch]

In the short-term, there will always be volatility. Some people will react to the news by selling. That's how it is.