Do you think China has halted the pace of bitcoin reaching new high??

[Jating]

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

To an extent yes, China has somewhat halted the progress of bitcoin. We have enjoying the best price of it until the China announcement. The only question is the timing of their declaration banning ICO. They should have done it when they suspend the withdrawal of the Chinese exchanges last March. But when they saw that bitcoin can't be ignored, they unleash everything they got to stop the price going further. But we have move forward already but there will be still China hang over until the last of the bitcoin exchanges stop its operation.

But they still have the monopoly of the bitcoin mining. According to Charlie Lee, they won't go after the mining industry, but we don't know if that is true. Maybe when we are enjoying new ATH again, suddenly they would change their mind and close mining too.

[cafucafucafu]

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

They are already forgetting about it.

Forgetting isn't the right word though, it's just that people are starting to realize what goes on in China is inevitable, but doesn't really make a difference on how bitcoin is used or run. If people want to trade, they can easily do so on localbitcoins still.

The price is rising up fairly quickly now to around $3950 on coinmarketcap. By the end of the day, the price should be over $4k and pushing for a big pump. Yes, chinese news had a big effect on price a week ago but as i said, markets have matured and following the week long sideways movement is a pump.

[jamids]

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

Why is it that the bitcoin price is pegged to China. China is not only the country who trade bitcoin. Anyone in the world can trade bitcoin and China has only a small market share now. There are many whales out there not base in China so we should not always think that whatever China do, it would be of great importance because they are not the owner of bitcoin. Maybe it is good that they will ban bitcoin trading and suspend their exchanges because they cannot messed up bitcoin price in the future.

[magneto]

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

The price drop can definitely be largely attributed to the fact that China has banned ICOs as well as exchanges in China closing down because of regulatory pressures and concerns. However, it is not the only reason. The market needed an adjustment anyways.

I think now, most people seem not to be as concerned about China as when the FUD first came out, which is great and the primary reason why price is increasing right now.

This trend should continue into next month, and if the rumors clear out completely then we could be back up to $4500+ once again.

[pearlmen]

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

What China has successfully done is to slow down the process but unfortunately for them, they cannot stop it because whether they like it or not, their exit has created an opportunity for entry of another entity. What matter is that level will be reached with or without their input but we should not be unweary of their tactics as another attack could be around the corner.

[patz22]

I don't think so maybe China contributes/contributed a lot in this business but it will run without them. Even though price went down when China banned ICO's it doesn't mean that it will go down. Probably if affected a lot (market,trading, etc) but because of this,it opened a lot of opportunities for other countries to invest/trade.

[bohr]

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

The news coming from China crashed the market, but I do not think it stopped any kind of movement to reach a new all time high that had already stopped before the news, now how much time it is going to take for this trend to change I think that will depend on what the miners decide to do in November if there is no fork I think we can see another all time high in December of this year.

[reliable]

I don't think so maybe China contributes/contributed a lot in this business but it will run without them. Even though price went down when China banned ICO's it doesn't mean that it will go down. Probably if affected a lot (market,trading, etc) but because of this,it opened a lot of opportunities for other countries to invest/trade.

China is one of the major market for cypto currency. because of its ban in ICO and negative news about exchanges the market were easily would have touched 5k mark but after this news its now at 3900$ only. Thus, its finding it difficult after such news to keep up the pace and move forwards reaching at least 4k as a first target.

[albertvert]

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

What China has successfully done is to slow down the process but unfortunately for them, they cannot stop it because whether they like it or not, their exit has created an opportunity for entry of another entity. What matter is that level will be reached with or without their input but we should not be unweary of their tactics as another attack could be around the corner.

China may slow down the growth of bitcoin some how. But now the bitcoin over come all it's pressure.The place of bitcoin will never take by any altcoin. Now the price of bitcoin is not a accurate price of bitcoin which was in past. It may be high or low depond on the Number of users. But it value will not change Often. You can trust bitcoin blindly.

[bohr]

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

To an extent yes, China has somewhat halted the progress of bitcoin. We have enjoying the best price of it until the China announcement. The only question is the timing of their declaration banning ICO. They should have done it when they suspend the withdrawal of the Chinese exchanges last March. But when they saw that bitcoin can't be ignored, they unleash everything they got to stop the price going further. But we have move forward already but there will be still China hang over until the last of the bitcoin exchanges stop its operation.

But they still have the monopoly of the bitcoin mining. According to Charlie Lee, they won't go after the mining industry, but we don't know if that is true. Maybe when we are enjoying new ATH again, suddenly they would change their mind and close mining too.

Let them do it if they want, if they want to shoot themselves in the foot like that they can do it, that will affect the price and the security of the network at same time, but I’m sick and tired of all this drama always appearing and reducing the price if it was nor for this we will probably reached a price higher than 5000 and maybe more, so lets get over this quickly instead of waiting months or years for the decision to happen.

[manselr]

The price was obviously halted due China scaring investors away with their usual banning bullshit, but the good news is, bitcoin showed to the world it's capacity to recover from threat in an amazing fashion. We are now past far above $3000 and in fact we have people dreaming with another double bottom to try to get cheap $3000 coins. The good news for the hodlers is, the MA has recently crossed and this is extremely bullish when it happens in the 1day candle chart. I have finally become bullish on the 1 day candle too. Let's hope we are at all time highs this month, I think it's very realistic to hit $5000+.

[BitcoinPanther]

The current action of China on ICO and exchanges definitely have an impact on the Bitcoin price.  We can assume that it effectively halted Bitcoin in reaching a new high in the last weeks.  But it seems Chinese government action had already cleared that they are not against Bitcoin and just wanted to clean their country of noncompliant exchanges and possible illegal ICO that will exploit Bitcoin's popularity and take advantage by scamming people in their country.

[gentlemand]

Unquestionably. I'm not sure about the present run, that had to blow off steam at some point, but the zero fee exchanges brutally suppressed the price for years when it was ready to move up. Repeated optimistic moves by the West were shat on by China and then everyone ran screaming. I don't know why everyone was so obsessed with following China when it was so obviously fake. That was exposed when the zero fee exchanges were shut down and we flew.

[figmentofmyass]

Unquestionably. I'm not sure about the present run, that had to blow off steam at some point, but the zero fee exchanges brutally suppressed the price for years when it was ready to move up. Repeated optimistic moves by the West were shat on by China and then everyone ran screaming. I don't know why everyone was so obsessed with following China when it was so obviously fake. That was exposed when the zero fee exchanges were shut down and we flew.

i think part of it has to do with the position of china with regard to mining. bitmain owns most of the market for ASIC manufacturing. side note on that -- it's really interesting to see that they are only accepting BCH for their next batch of miners. it's brilliant: they are leveraging their market share to force retail customers to prop up the price of BCH.

chinese pools also account for a majority of the global hash rate; nothing to sneeze at there. chinese exchanges also helped to fuel the 2013 bubble, long before the volume manipulation started happening years later. back then, it certainly felt like huobi and mt gox ran the market. after gox was gone, huobi was who i followed for price analysis for the next 2 years. maybe other people got used to it, too.

[machinek20]

Yes china has slow down the bitcoin pace, actually bitcoin is a very good pace when suddenly the news came and the price broke down, but now everything is back to normal, just hope nothing shocking come out from the China's government anymore

[timerland]

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

People are starting to forget about the dump as well as the Chinese bans right now actually, since the price is being bought up to around $4500 as we speak. I think that already people are coming to realize China isn't everything that bitcoin is. Even losing them completely is fine.

Right now we're going to test $4500. I expect some resistance that take price down to around $4300 or so before climbing back up and potentially even breaking the $5000 resistance barrier.

If there is a dip, buy it.

[Lumada]

Do you think China issue has halted the pace of bitcoin reaching new record high?? How much time do you think required for bitcoin to forget China issue and pick-up the pace to touch new levels???

People are starting to forget about the dump as well as the Chinese bans right now actually, since the price is being bought up to around $4500 as we speak. I think that already people are coming to realize China isn't everything that bitcoin is. Even losing them completely is fine.

Right now we're going to test $4500. I expect some resistance that take price down to around $4300 or so before climbing back up and potentially even breaking the $5000 resistance barrier.

If there is a dip, buy it.

It will increase up to $4500 before November fork,or btc users already learned their lesson that already realised that btc will not lose its value even in any issues.

[ivrynx]

i think there is a good and bad effect that had happened when china banned bitcoin in their country. the bad effect is that the price of bitcoin from 5000 usd went down, since it is a fact that china still have a large population of bitcoin users, but i think china did not halted the pace of bitcoin reaching a new high since bitcoin, will surely bounce back again, and that is what is happening right now, with or without e chinese, bitcoin will still continue to grow. the good side that i see, is that, people should have learned their lessons already not to panic, whenever they hear a negative news, it doesn't mean that when one country is going to ban bitcoin, bitcoin will fall down, there are a lot of countries that supports bitcoin and china, doesn't control bitcoin, they may have a huge percent of bitcoin users, but not to the extent that if all sold out their bitcoins, bitcoin's price will go down drastically. i think in this case, china did not halted the pace of bitcoin, rather it just helped out bitcoin users, to see that there are still a lot of weak hands that are investing in bitcoin, i think now, that those weak hands have learned their lesson or probably do not want to invest anymore, what are left are those who knows how to invest and use bitcoin  effectively, and as we all can see, bitcoin is rallying back without china and for sure will reach a new high.

[bohr]

The current action of China on ICO and exchanges definitely have an impact on the Bitcoin price.  We can assume that it effectively halted Bitcoin in reaching a new high in the last weeks.  But it seems Chinese government action had already cleared that they are not against Bitcoin and just wanted to clean their country of noncompliant exchanges and possible illegal ICO that will exploit Bitcoin's popularity and take advantage by scamming people in their country.

That is the current excuse but what it is going to happen when they control that? They are going to set their target in something else, they are going to try to regulate bitcoin to oblivion, or they may ban miners or ban bitcoin, it may not seem as likely to some people but at some point if the Chinese citizens keep using bitcoin to avoid government regulation then the final step for China is to make bitcoin illegal.

[Trela]

The current action of China on ICO and exchanges definitely have an impact on the Bitcoin price.  We can assume that it effectively halted Bitcoin in reaching a new high in the last weeks.  But it seems Chinese government action had already cleared that they are not against Bitcoin and just wanted to clean their country of noncompliant exchanges and possible illegal ICO that will exploit Bitcoin's popularity and take advantage by scamming people in their country.

That is the current excuse but what it is going to happen whjen they control that? They are going to set their target in something else, they are going to try to regulate bitcoin to oblivion, or they may ban miners or ban bitcoin, it may not seem as likely to some people but at some point if the Chinese citizens keep using bitcoin to avoid government regulation then the final step for China is to make bitcoin illegal.

If the Chinese government want to bans Bitcoin's miner, I think they should not to do that. What is the benefit they will receive after do that? No money from the tax, no one wants to bribe them to avoid the law then do you think they should to do that?