Chinese market has nothing to do with BTC price, am I right?

[AICoin_Official]

Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.

[Lancusters]

ICO has nothing to do with the price of bitcoin. Now in many countries there is an active attack on bitcoin users. For example, India's recent ban. This is the second largest country in the world. But at the same time, we see a stable trend towards an increase in bitcoin prices. It seems to me that the price factor of all cryptocurrencies is determined by the strategy of coordinated actions of whales.

[talkbitcoin]

Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.

i  disagree and i say Chinese market doesn't have that big an effect on bitcoin price that everybody has been thinking so far all these years. it is more of a fear of Chinese market that causes weird movements in bitcoin price.
not to mention that every year at the same time we have the same drops and that is while we only had the Chinese ICO ban this year!

[monalia]

ICO has nothing to do with the price of bitcoin. Now in many countries there is an active attack on bitcoin users. For example, India's recent ban. This is the second largest country in the world. But at the same time, we see a stable trend towards an increase in bitcoin prices. It seems to me that the price factor of all cryptocurrencies is determined by the strategy of coordinated actions of whales.

yesterday also I see the crypto news when it was happen. India is a growing country so it was not ban in cryptocurrency I think you are confused in price fluctuation. It depends on the demand and supply of cryptocurrency currently many investors are drop the investment it is affected in the market know only back to form in Bitcoin.

[susuberuang]

Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.

yes you are right digital currency is a currency that can not be controlled by the government is certain it will make the government and the market of China can not do anything but just give negative and positive information for bitcoin.

[Fuhre]

what you say is wrong!
ico has nothing to do with bitcoin in the market.
We follow a general course, you should also know that affect the price of bitcoin, among others;
- Demand and supply on the market.
Actually the physical market and the digital market are always influenced by the basic laws of Supply and Demand (Supply and Demand). If the offer is more than just a request, then the price will go down. And vice versa.
- Total Total Bitcoin and Holder.
everyone would also know, if until bitcoin runs out in the mines its price will be very surprising.
- news, his example news about the capture of Ross Ulbricht, the operator of the Silk Road site that many use Bitcoin, most likely it will make the price of Bitcoin down.

indeed the chinese market can also just affect the price, but not so much affect the price.

[aoluain]

TBH i think everything has an effect on BTC one way or the other.

We are seeing a fall in BTC market share due to the increasing
popularity of new coins and ICO's

Every little piece of FUD, bad news, good news story has an effect
on BTC but these are almost always short term effects.

In theory limiting people in China and India, two massive players
can affect BTC growth but again this is short to medium term.
People will always find a way to cheat the system.

[haroldtee]

ICO has nothing to do with the price of bitcoin. Now in many countries there is an active attack on bitcoin users. For example, India's recent ban. This is the second largest country in the world. But at the same time, we see a stable trend towards an increase in bitcoin prices. It seems to me that the price factor of all cryptocurrencies is determined by the strategy of coordinated actions of whales.

You are right bro! Or I would rather say I share the same opinion with you. I feel the attention we are giving to some countries and thinking they have a huge impact on the price of the market is too much and we over hype it most of the time. I like the way you used those words, 'coordinated action of whales'. These are the guys that controls the market as far as I am concerned and they only make use of the news, FUD to create some panic in the market considering how a lot of weak hands are present and how the market responds to news easily. So, I do not believe that China or any other country have any major impact on the price of bitcoin and like I always say, they are just a tiny piece of the puzzle.

[TERA2]

China first started banning bitcoin in 2013.

By the end of 2016, all volume in Chinese exchanges was gone.

Sometime in 2017 all Chinese exchanges ceased operations, as btc rallied to the moon.

That we still hear about Chinese FUD today is laughable.

[alyssa85]

China first started banning bitcoin in 2013.

By the end of 2016, all volume in Chinese exchanges was gone.

Sometime in 2017 all Chinese exchanges ceased operations, as btc rallied to the moon.

That we still hear about Chinese FUD today is laughable.

I think some noobs don't realise that China is now out of the whole cryptocurrency ecosystem. They just think 1.4 billion people "must" have an effect without taking into account that China is a dictatorship with capital controls and a great firewall and there is no way for them to participate if their govt wants to prevent them.

[arpon11]

Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.

The Chinese traders has a very good influence on cryptocurrency market and until now some of them are still investing and that is why you always see bitcoin and others cryptocurrencies has not completely fall down. I think the banned has not affect the pricing very well because other new countries are going into it and many countries have said good thing about it. Only China can't bring cryptocurrencies to a stand but they have great influences on its pricing.

[gentlemand]

Depends on whether the Chinese were able to migrate to other exchanges. I'm not convinced they could. There basically is no Chinese market any longer but there still is a lot of Chinese money.

And there might be further scares about Chinese mining. That might cause a blip but ultimately it would be the best possible news for Bitcoin's overall health if they made an orderly exit.

[BrewMaster]

in my opinion Chinese investors have never had any kind of major effect on bitcoin price to begin with. it was always exaggerated so much that it caused panic. for example Chinese exchanges were reporting some ridiculously huge numbers as their daily trading volume which meant people started to believe they are big for real. but when PBoC started investigating them, they immediately cut the fake volume and it became clear that they were in fact no bigger than any other groups in the market.
but for some reason people still have the impression that Chinese are big for some reason and the FUDsters love this. they keep pushing for it because it is effective.

of course the effect is not "nothing". Chinese are a part of bitcoin market and anything that goes on in China will also affect bitcoin price.

[dothebeats]

I wouldn't say China is irrelevant in the ecosystem, but in terms of trading volume, supply and demand coming from China combined, it isn't really that significant to cause selloffs and massive rallies since a lot of traders from all over the world have chimed in on the game and China's recent stance about cryptocurrencies is kinda strict, leaving the Chinese traders no option but to sell or move out of the country to continue trading BTC. The recent news about China banning ICOs and halting operations of all exchanges didn't have a severe impact on the price as was evidenced by previous charts during the time of the news. China is still in the game, though their impact on the market has significantly declined due to the recent laws imposed with regards to crypto.

That we still hear about Chinese FUD today is laughable.

Any news can be hyped by several media outlets and channels of traders and could cause a shift on the trend or benefit whoever hyped the news. It's laughable, yes, but lots of things can arise by just mentioning the words "China" and "ban" even though the Chinese don't have significant control in the market.

[ecnalubma]

Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.

NO, China has one the biggest volume of bitcoin and it really can influence the global market. I believe there are very large numbers of investors coming from China. Their government is uncertain whether they should embrace crypto or not but they are pretty much interested in studying blockchain technology, despite of the FUD Chinese still love crypto I believe. 

[imapessimist]

Chinese New Year kept being mentioned for the last few weeks.  I really didn't see why it should have very much affect on Bitcoin prices.  I don't know what is influencing the price now.  Because I suppose something must be.  It seems to be hovering ready to crash or soar. 

[WUUEX79]

True i strongly agree with what the op says. According to my analysis they have made it hard for the whole development of crypto especially Bitcoin. Bitcoin is their primary target to be killed slowly. This condition is in the end more disordered when china only supports her son named suNeo, Neo is the only one the coin is considered legal and fully supported by the Chinese government  it is no wonder if Neo occupy the first rating in the exchanges china .

[aso118]

Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.

The action just shifted from China to Japan and South Korea, after the Chinese government effectively shut down exchanges in late 2017. We should however not underestimate the influence of Chinese investors, as a significant percentage have stayed invested through Korean exchanges and in offshore exchanges. The good point is that rumours emanating from China have stopped moving the market, because they think the government's stance can't get any worse.

[darkangel11]

Depends on whether the Chinese were able to migrate to other exchanges. I'm not convinced they could. There basically is no Chinese market any longer but there still is a lot of Chinese money.

And there might be further scares about Chinese mining. That might cause a blip but ultimately it would be the best possible news for Bitcoin's overall health if they made an orderly exit.

I think that most of them did move. Mostly to Japan. If you were watching the markets at that time, and i'm sure you were, you could notice that not long after the Chinese exchanges have announced that they'll have to shut down, the volume on Japanese exchanges have multiplied, making them the leading market. The money must have come from somewhere and the most viable explanation is that it came from the traders that used to invest on the biggest Chinese exchanges. It wasn't that difficult for them to move some cryptocurrency from one address to another and register through a local, Japanese entity, a proxy.
I believe a lot of them also migrated to Hong Kong and set up accounts on various exchanges from there, since there were no laws restricting them from doing it and the money was just too good.

[exstasie]

Since the ban on ICO and exchanges released by Chinese government on September 4, it seems investors from Chinese market have very limited influence on the global BTC price, do you agree? Share your comments below.

It wasn't the ICO/exchange ban. The Chinese government began investigating the exchanges in January 2017. At that time, all the infamous volumizer bots were shut down. Huobi, OKCoin, and BTCC halted all cryptocurrency withdrawals in February, and after that, a massive disparity between Chinese and Western prices developed, because China didn't reflect the true price.

After this, everyone stopped paying attention to China.

ICO has nothing to do with the price of bitcoin.

They are indirectly related. You need to buy into base currencies like ETH and BTC to invest in ICOs, which increases demand and lowers supply for the base currencies. And all altcoin markets are highly dependent on BTC price action.