DO you think china was right to shut down Bitcoin exchanges and ICO?

[Drixy]

https://www.aicoin.net.cn/chart/4D023D6C

BTC:
BTC has experienced several rounds of slumps in price with increasing volumes from high levels since November 30. However, every time price falls, it will be pushed up by those investors rushing into the market. Also, BTC price seems to be stuck in a loop, which means those selling their BTCs before may find it very difficult to buy in later. The fact that miners and exchanges hold their BTCs, and a certain number of BTCs gets lost forever results in a decreasing number of BTCs circulating on the market. Therefore, each time price dips, more investors will emerge and digest the BTCs released from panic investors and BTC holders.

Where is the temporary high point of BTC price? I think it will emerge when the number of investors rushing into the market starts to fall, since the total amount of funds is limited, when price surges to ￥70,000/BTC，it will take up a huge part of investors’ money. Once investors find it hard to keep up with the price and buy in, BTC price will fall. However, bearish policies can’t be excluded and may break out at any time, which will also trigger a panic sellout by BTC holders.

The key for our operation is 5-Day MA strategy, as long as price remains above 5-Day MA, we can wait and hold on to our positions whatever it happens in the market.

LTC:
The gains in LTC price are not enough since LTC still ranks second among major coins in terms of market capitalization, though only LTC sets a new all-time high in this wave of rally. Nevertheless, LTC seems relatively strong in the short term and further operations can be referred to our 5-Day MA strategy.

ETH & ETC:
ETH failed to set a new record during the rally and the overall strength seemed weak. However, price is very likely to move upward when judging from the overall trend, as ETH breaks and remains effectively above the support level at $450.

ETC is expected to continue its choppy pattern.

BCH:
BCH is still under a good control of main funds who are good at consuming our patience and making us upset in a short term, after all,
:
so many of us are locked up at high levels and main funds have no responsibility to set us free. Floating chips need to be whipsawed before pushing price up, which takes time to be done.
 
Original by Kuang Ren, translated and posted by AICoin Jami.

Its good for them they are just being cautious to whats the potential threat to them just for them though. Theyre just thinking just for themselves. Their investors might change their technics or strategy and choose Crypto world for investing. They might just being careful it might affect their economic status.

[stompix]

Probably the best thing that has ever happened to Bitcoin.

ICOs where all scams, let's be honest there is not a single ICO that is really doing what the whitepaper says.
All those tokens are used just for speculations.

But the exchnges where even worse.
Fake numbers, fake volume, fake everything.
I'm so glad we got rig of them (although I'll be happier with bithumb shutting down also), we got rid of the never ending story of China banning bitcoin, we can finally relax.

And with this, another myth was busted.
The so called usage in China. which proved to be.....ZERO!!!!

I think china is the main power of bitcoin. They also having the right and decision either bitcoin will shutdown or goes on.

Hahahha,
Shut down bitcoin?
In your broken English dreams maybe.

[sheenshane]

Probably the best thing that has ever happened to Bitcoin.

ICOs where all scams, let's be honest there is not a single ICO that is really doing what the whitepaper says.
All those tokens are used just for speculations.

But the exchnges where even worse.
Fake numbers, fake volume, fake everything.
I'm so glad we got rig of them (although I'll be happier with bithumb shutting down also), we got rid of the never ending story of China banning bitcoin, we can finally relax.

And with this, another myth was busted.
The so called usage in China. which proved to be.....ZERO!!!!

I think china is the main power of bitcoin. They also having the right and decision either bitcoin will shutdown or goes on.

Hahahha,
Shut down bitcoin?
In your broken English dreams maybe.

Yes you're statement above are true, mostly ICO's project are scam they have fake everything even they have a whitepaper but they did not follow it, just to sale their token and after all they are gone like bubble. We can't blame Chinese government banned ICO's project on their place to prevent their people lost their money because of these thing and some reason is to avoid bypass their money through bitcoin and use for illegal activities.

[shaun98]

I think it was right of them to do so, as to introduce some sort of regulation to protect investors from scams. However, China likely did it to keep control over the situation, as it likes to keep a tight grip over everything in the country.

[Xising]

I have a really strong feeling that China did a very wrong move when they shutdown btc exchanges and ICO. They have to admit that both also helped their economy somehow. Still, they do not value what bitcoin has done in their country that is why I really feel that it was a wrong move for them. Then again, this is just my point of view.

[portotoi]

No way. there are wrong. Shut downing Bitcoin exchanges and ICO makes me sad if that will really happens. Because Bitcoin exchanges and ICO is one of the biggest contributor of my coins, without this I will not have the chance to earn more crypto currencies.

[RamonBTC]

I’d rather see China regulating bitcoin exchange and some scammy ICO than totally banning both, it is somewhat a bad decision that affect not the cryptocurrency itself but the same people who they serving, the Chinese’s citizen who invested and trust bitcoin. They might have reason to make such move but it won’t deny the fact that the benefits of having crypto is much higher.

[13abyknight]

China thought it could gain an upper hand on Bitcoin and digital currencies by banning out exchanges and ICOs with the impression that other countries will follow in their path and therefore establishing control indirectly. This ploy got completely foiled after a few months when Bitcoin, altcoins and ICOs were back to normal functioning with prices rising to newer heights. I'm sure China will think twice before doing something like this in the future which caused a huge setback for themselves.

[Andrej Peiboski]

China is a strange mix of freedom and dictatorship, a mix of communism and capitalism, and is a perfect example of centralized power, with strict control of population. So, I can understand that the simple idea of "decentralization" can disturb the government.
Btw, I don't think this can affect the global market, that btw is still very small. We'll see.

[carter34]

We have to understand what the objectives of the Chinese government were. They wanted to prevent Chinese people from losing money in scam ICOs. They want to prevent people from using crypto to by pass capital controls. So from the government's point of view, it was the right decision.

That is more like it. One of the important obligation of the government to her people is to protect them against external forces or mission which fraudulent ico companies would have achieved if not curtailed and really, we still have fraudulent coins, pumping and dumping. This is too bad  

[ladydark]

The Chinese government don't want to leave its people freely to use cryptocurrencies uncontrolled and that's why, they have started to take such steps at last .China's ban on bitcoin exchanges have done a great favor to bitcoin by making chinese gamblers totally out of the game.Earlier they manipulated bitcoin price as they wished by creating fake trade volumes which had a huge impact on bitcoin price all over the world and now the bitcoin world is totally free from such domination.

[andrei56]

We have to understand what the objectives of the Chinese government were. They wanted to prevent Chinese people from losing money in scam ICOs. They want to prevent people from using crypto to by pass capital controls. So from the government's point of view, it was the right decision.

They never cared about protecting their citizens, the Chinese government is a dictatorial communist regime so they want to have full control of their population, and exchanges was a way for people to get their money out of the country without any regulation, from their point of view they are doing what it is best for them but as they stop to adopt this new technology their country will lose relevance in the world as it has happened several times in the past.

[sgenuine]

Nope. China was wrong. Now those Chinese guys, who used to deal with Bitcoins and ICOs relocated their business to Hong Kong. There they are free to deal with all crypto and create their own projects. By the way, BTC price at Hong Kong exchanges is very high.

[andrei56]

Nope. China was wrong. Now those Chinese guys, who used to deal with Bitcoins and ICOs relocated their business to Hong Kong. There they are free to deal with all crypto and create their own projects. By the way, BTC price at Hong Kong exchanges is very high.

Governments seems to lack any kind of common sense, they think that just because they say something is forbidden people are just going to listen, Chinese traders were making a fortune with icos and they are not going to stop earning millions of dollars just because they cannot invest in icos anymore from their countries, they are going to find other ways to do it, they are going to move their operations to other countries and if those other countries ban icos as well then they will keep moving until a country accepts them, it is that simple.

[oppasong]

If the Chinese government really prohibits this ico will have an impact on bitcoin, because the biggest investor is from china country and they will no longer invest in bitcoin. Hopefully no more countries will follow china.

[ezbreezy08]

I think Governments are very serious on studying the blockchain but it will take more years to absorb blockchain and it's not that easy because in China they value their Philopsopy. but fore sure some of their citizens are into cryptos. The world is changing and blockchain is very fast, The modern world is transforming into a technology information. We should have patience this time around.