how will china banning bitcoin mining affect btc price?

[vince212]

hi i just read that china might ban bitcoin mining.

what do you think will it affect btc price? lower or higher?

[HabBear]

First of all, China hasn't banned Bitcoin mining. Rumors aren't fact...yet.

Second, the price will probably drop on the news and then quickly rebound. Chinese Bitcoin miners don't run this thing, that's the beauty of it. If there activity stops there will be plenty of miners, who already have operations and machines in place to fill the void! The beauty of this thing is the decentralization of the network and the ability for anyone new to join the network with a simple (albeit time consuming) download.

[akram143]

hi i just read that china might ban bitcoin mining.

what do you think will it affect btc price? lower or higher?

If china banned bitcoin mining there maybe not enough miners which can handle the current heavy load on blockchain network.So it increase the transaction fee further more but the proble will be resolved soon because there are more miners started to emerge all over the world.

[UnusualMouse]

I think it depends on how many miners are located in china. If the percentage is very high then I think it could affect the bitcoin's price in the market.