If Bitcoin goes past $5000, what will the Chinese government do?

[ruskytailz02]

this is what I call monkey strategy
they copying others crypto because digital currency is the future now and they want to be
the first ever country who has using it to grow and rise their economy more
That is only what I thought from all of china revelations and rumors

nice but monkey type of movements

[1713545726]

1713545726

[1713545726]

1713545726

[h0lybyte]

china is good in copying others idea, so the best they can do is that they introduce their own virtual currency into market and then make other currencies illegal.

Obviously,according to news sources,they are already on such a project and will introduce their own virtual currency in market in the name of virtual property.
Even after chinas's ban on cryptocurrency exchanges, bitcoin price is not likely to fall, it is still stable.
In future if the value of bitcoin passes $5000, china might be showing their envy over bitcoin aroused by cryptocurrency traders.

[Qunenin]

Same thing they do every day , NOT CARE! They are not sitting around and giving thought to the plight of the world with or without Bitcoin. It is just one of hundreds of regulations that they touch every single day and very small news in their world. They will not give it another thought until they have another reg change come through and then they will make a choice and move on to important things, just like now.

[Rinaze]

North Korea might be able to enforce whatever the threadstarter has mentioned but you might see an island wide protest if China tries to do that. Anyway on a more serious note, there's no government that doesn't like money so saying things like they hate Bitcoin is just bull****. The cryptocurrency industry is a multi-billion (or even trillions) industry. They just need regulations to "keep things under control"

[liuqi]

Same thing they do every day , NOT CARE! They are not sitting around and giving thought to the plight of the world with or without Bitcoin. It is just one of hundreds of regulations that they touch every single day and very small news in their world. They will not give it another thought until they have another reg change come through and then they will make a choice and move on to important things, just like now.

Are you thinking that they are not caring the bitcoin now. I don't agree that at all because the miners machines supply is widely taken part from that country only. Even in trading also they are been involved widely. So their country investors should go out the China or they should make the bitcoin as legal money. Hope any of one will happen for sure.

[PMmesexycoins]

I don't see this as something that would change their plans whatsoever.

As for the people here, if you trust the platform..

[btbrae]

Here it is, Bitcoin rolling up to platform $5000 once again. China will get left behind in the revolution of a lifetime.

If you sold, you're gonna miss it. Sorry.

[iamTom123]

China is good in copying others idea, so the best they can do is that they introduce their own virtual currency into market and then make other currencies illegal.

There is a big possibility for this because the government of China is really very wary of Bitcoin because this is something they find it hard to control and manipulate. We all know that the Chinese government controlled almost everything in China and though they are not anymore as communist as before still the government made it sure that they are at the top of all things at all times and in all situations -- anything or anybody who might challenge that grip in power can be endanger of state action. And that is what happened with Bitcoin in China last month.

The Chinese government appreciate and knows the full potential of the blockchain technology they just hate Bitcoin. And because of this there is a strong possibility that soon they would have their own state-controlled and backed cryptocurrency that is pegged to their own national fiat currency.

Good thing that now the market has fully ignored the weight of China's withdrawal from Bitcoin and cryptocurrency...thanks to the leadership of Japan and other Asian countries Bitcoin remains to be prosperous and is now surging in value.

[salihno71]

5000$ is just an arbitrary value and it signifies for nothing except for maybe psychological barrier that some people have in their heads. I believe that Chinese government will regulate the domestic market and possibly introduce mandatory fee for the Chinese exchanges since they cannot afford to be left behind which would inevitably happen if they would to totally ban the operation of their own exchanges.

[SMSabuj]

I think China will accept Bitcoin again. Because China has a large population. If the government doesn't give them any job so it will affect the country's economy. But it is not possible to ensure all the people's job. That way they have to find out an alternative to reduce their unemployment. And Bitcoin can be the alternative.

[Rupok]

I think that China will take bitcoin after a while, but it will not necessarily happen when reaching the mark of 5000 dollars. It takes time for more countries to accept bitcoin and allow the population to earn money

Yes, I agree with you. China will accept Bitcoin. But it is not a matter to reach Bitcoin at $5000. China needs more time to legalize Bitcoin. Just wait and see what will happen.

[joseafonso123az]

They wont do anything,  as they have clearly banned the circulation of cryptos in exchanges! Maybe they'll start studying new possibilities where they can incorporate cryptos, or create their own virtual currency. If they are going to create their virtual currency, maybe BTC will have a big competitor, because China has a good number of people using BTC, and surely they'll adopt their virtual also, in order to not fall behind.

[Tumanggor]

maybe the Chinese government will be upset,  

there was a post in this forum saying that Russia has Banned Bitcoin, we know that these two countries are russian and china is a friendly country

if that's true, means there is a game from investors, because now Bitcoin price continues to rise, maybe they want to lower again Bitcoin price ..

[carlo.p]

after their regulation news i think china already have bought tons of bitcoin when btc price fall to almost 3000$ mark and they are still holding it till now! so the more bitcoin grow the more they will profit! after they sold they are gonna spread another fud to enter again haha

[Weatherby]

after their regulation news i think china already have bought tons of bitcoin when btc price fall to almost 3000$ mark and they are still holding it till now! so the more bitcoin grow the more they will profit! after they sold they are gonna spread another fud to enter again haha

The Chinese government has banned the exchanges and it has nothing to do with the amount of coins purchased with each speculation and fud news,people who does have inside information must be behind all these fake news so that they could make use of the news and manipulate the price,o am sure there will be another news coming out soon since the price has picked momentum.

[Sithara007]

I guess the Chinese government is not much concerned about the exchange rates. They just want to end Chinese citizens from using Bitcoins, and they have achieved this target up to a certain level, by banning the BTC vs CNY trade. If Bitcoin crosses the $5K mark, then the Chinese bitcoin users will be ruing at the lost opportunity. The government will be least bothered.

[valentin68]

The bitcoin is going to go past 5000 this week. And China has helped this, and is going to help the appreciation of bitcoin. They will continue to regulate the Bitcoin and the bitcoin markets. This is in favour of Bitcoin, not against it (and of course in favor of China). China is a very progressist country and Bitcoin helps its economy. They are the biggest producers of the Bitcoin in the world, and I do not think they will do whatever action you have suggested. China is too big and too smart compared with all the remaining world.

[thebanker28]

Are we going to see $5,000/BTC today does anyone think? It is getting right up there, I think if it pushes past $5K it will fly a good deal more in the next little while.

[hypersonic1]

Honestly, if they are blocking their people from doing it, the high level officials are probably buying in. The corruptio just like many other countries is astounding. The son of one official hit someone with his car and literally got away with murder.

[Fatunad]

Are we going to see $5,000/BTC today does anyone think? It is getting right up there, I think if it pushes past $5K it will fly a good deal more in the next little while.

It is just $100 to reach out that $5k price which would be considered the new ATH if the price would tend to break that and i would say Chinese cant do anything on this one.I did expect for this thing to happen because of the upcoming fork which people are now buying and accumulating bitcoin as much as they can so that they would able to earn more free coins on bitcoin gold.