Bitcoin banned in China. Did it affect the price?

[junoreactor]

Such a big news did not affect the price so badly I thought. Which shows how solid Bitcoin is right now. 

[BlitzandBitz]

What's the source on Bitcoin being banned in China? Can you really not use it by law as a citizen living there?

[splat44]

Yes fluctuation prices. because other investors or traders withdraw amount of bitcoin. They know China has a big impact in the society right now. If their government will regulate Bitcoin then expect a pull back price and it will go wide as we expect the price of bitcoin next year $13,000 by 1st quater of 2018

[TheUltraElite]

What's the source on Bitcoin being banned in China? Can you really not use it by law as a citizen living there?

No wonder such propaganda news are spread everywhere. New people entering the market obviously get tempted to get bitcoin but are in a dilemma when the see the huge price of bitcoin. Thus they resort to scaring people into selling bitcoin so that they get a cheaper price of bitcoin. I dont know when this news was seen or if the source was true or not and this is just a FUD rumour. Even if people do sell some bitcoin thinking their country will also ban bitcoin there are methods to anonymize yourself and still use bitcoin.

[qwertyup23]

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

The price dropped significantly after 1-3 weeks of China's banning of ICOs. This move resulted to a decrease on the miners and investors (as China contains the most number of miners), resulting to a decrease from $4400 to $3200. Many people took it as an opportunity to invest since it is inevitable for its price to increase on the future, which actually came true. But do remember that one country cannot erase bitcoin's existence even though they may be considered as one of the major trading platforms around the world.

[Rhaizan]

I think it is really affect the price, because China is one of the biggest potential to invest in bitcoin ,we all know that China is also known in business so investing is maybe like a business, well i think that is one of the reason why bitcoin dump again lately. (Correct me if im wrong) its just only what i think.

[Eugenar]

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

It really did negatively affect its market value and not only bitcoin but the whole cryptomarket. When China banned Bitcoin exchanges and ICOs, its market value fell down to 3500 from 4800 in just a week, so obviously it affected its price. But the good thing is that ,Bitcoin is able to slowly recover and now again, on the 4200$-mark and is still increasing. Hoping that the increase qill now be continuous.

[datodota002]

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

its happen because china is the largest bitcoin trader and miner on the world and when bitcoin banned in china there are massive sell and affect to price of bitcoin and falling to 4300$ right now

[websoftwareengineer]

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.

You are right bitcoin was being use very highly in the china. The bitcoin is being use by almost everyone. The price of the bitcoin will grow more if the use of the bitcoin will be high. Bitcoin will not be affected if the china will ban bitcoin because as the china is using bitcoin the same way a lot of the other countries are using bitcoin and they are taking the profit.

The banning was actually a disaster. It affected not only the prices but the holders also. People start panic selling out due to which the price further decreased. China was one of the greatest supporters who welcomed bitcoin warmly.

However, it was not trying to kill bitcoin rather trying to save the investors from frauds. I have heard about regulated ICOs from China now.

China is one of the highest contributor in the crypto world since the electricity consumption in their country is cheaper than others then running a mining hardware is really a huge advantage to them.

[ivrynx]

yes, china's banning of bitcoin did have an impact on the price of bitcoin, since bitcoin still is an investment and it follows the laws of supply and demand, during the china crisis, a lot of bitcoin users panicked and forgot that they are in it for a long term and not just to dump their investments, and so we saw a huge volume of bitcoin went into the surplus and made the value decreased, but thanks to that, bitcoin's value became more affordable to the rest of us and we can see that bitcoins are being bought everyday, however it still is not enough to compensate the value which it had lost, during the banning of china. i think there are pros and cons since it had happened, the pros, a lot of investors are now more cautious of the news and the cons is the value, but we are talking about bitcoin here, bitcoin's value can still rise up.

[Peashooter]

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

That's just a propaganda I think. You know the panic news happens whenever new things get on trend. Well banning the BTC in china can affect it's value but I think it's not significant.

[DoublerHunter]

The banned in bitcoin from china affected the price a lot and you can see that there is a huge dip or red candles in the price chart of bitcoin and that is why the people panicked because of the news about the china who is banning the cryptocurrency exchanges and the ico and it leads for the people to think that they completely banned bitcoin and that resulted for a huge dump.

[Cindy1983]

Of course it affected to Bitcoin price but only in few days. As I remember at the early of this year China had closed 2 biggest cryptocurrency exchanges in their country and it dumped Bitcoin price a lot and few weeks ago China did the same as they was at the early of this year and of course there are no exception, Bitcoin price dumped from over 4k$ to under 3k$ but few days after that Bitcoin price came back very quickly and now it's about 4k4$. Although China has big effect to Bitcoin price but it's can last too long.

[geopolisch]

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

I think it has affected the price when the ban it,
The price crash down and some bitcoin owners did panic so they have some effect in the price because of it.

Chinese Ban is not that much matter of discussion now in future there will be no effect of china on the market, because bitcoin is not depending on any country as china banned it they are on a huge mistake and in coming future they will regret about what they did, and banning bitcoin means to lag in the progress of economy and digital technology and now they have no hold in future and that’s a good sign.

[mukeymon]

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

it has a bit of influence. but BTC will gradually stabilize. You can see the price of bitcoin is still very high

[mukeymon]

Of course it affected to Bitcoin price but only in few days. As I remember at the early of this year China had closed 2 biggest cryptocurrency exchanges in their country and it dumped Bitcoin price a lot and few weeks ago China did the same as they was at the early of this year and of course there are no exception, Bitcoin price dumped from over 4k$ to under 3k$ but few days after that Bitcoin price came back very quickly and now it's about 4k4$. Although China has big effect to Bitcoin price but it's can last too long.

I think this is a bad intention of the Chinese people. They hit the closed door bitcoin news.  they will buy bitcoin at low prices

[albert11]

Yes it really does make a big deal on bitcoins because it costs almost $ 1,000. But because of the amount of people who support bitcoins it's just quick to get up again. So we're constantly investing in bitcoins because it will increase in price over the next few years.

[Kprawn]

Those first claims that Bitcoin is banned in China was Fud driven and people panicked way too early. The price did drop

because of that and it is only now recovering slowly, when people realized that the Chinese are not implementing a blanket

ban on Bitcoin. The Chinese also moved some of their coins from exchanges, because these services are the first to be

targeted when a ban is threatening.   {Less trade volume on exchanges = lower price}

[Blamsud]

Those first claims that Bitcoin is banned in China was Fud driven and people panicked way too early. The price did drop

because of that and it is only now recovering slowly, when people realized that the Chinese are not implementing a blanket

ban on Bitcoin. The Chinese also moved some of their coins from exchanges, because these services are the first to be

targeted when a ban is threatening.   {Less trade volume on exchanges = lower price}

Whenever fuds happen,newbies were easily get frustrated since they want an easy money witout knowing that it will be much better if they'll do a long term investment. China bans just show that btc can still recover even slowly.

[azguard]

Those first claims that Bitcoin is banned in China was Fud driven and people panicked way too early. The price did drop

because of that and it is only now recovering slowly, when people realized that the Chinese are not implementing a blanket

ban on Bitcoin. The Chinese also moved some of their coins from exchanges, because these services are the first to be

targeted when a ban is threatening.   {Less trade volume on exchanges = lower price}

Whenever fuds happen,newbies were easily get frustrated since they want an easy money witout knowing that it will be much better if they'll do a long term investment. China bans just show that btc can still recover even slowly.

Correct this time US and Europe work together and this is something that they need to practice more cuz, no one want to bitcoin be controlled by Chinese, maybe this is my point of view but maybe most of you will agree, when we sleep they make moves.

Now with recovering in slowly process think that it finally good to say that we could expect to see price going over 5000 again.