BTC To 9K$, China Banned miners

[mrdeposit]

You are looking at the positive, but the majority will not. If the decision is made, the price decrease will be possible.

Did they really ban bitcoin mining?

I do not think the final decision was announced.

[2chase]

It seems to me that now it is necessary to pay as little attention as possible to what the media is writing, as well as any online publications, because most likely this may not be completely reliable information. You just need to take into account the fact that the trend has changed and now we are all waiting for slow growth.

[South Park]

Did they really ban bitcoin mining?

It only says it's considering a bitcoin mining ban, so it's not yet final so I guess everyone should stop speculating as this point until we really heard fro the Chinese government about their stance on it.

On the bright side, it might cut the monopoly of Bitmain and other countries might be willing to keep bitcoin mining on their back-yard.

There is no way China will actually ban bitcoin mining.  They get tax revenue from businesses and mining has been thriving in their country.  Its just sabotaging their own economy only to let other countries gobble up the mining industry.

There is no doubt that they will lose revenue when they ban bitcoin mining, but you must not forget that the Chinese government is way more interested in having control of their population than in whatever revenue that they may lose, bitcoin mining undermines the control they have over their population because it allows them to have an alternative currency that they can use to move money outside of China and that is something that they do not like one bit.

[Alpinat]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

They are just considering it to be ban. It is not sure. The demand will increase for sure if that really happen and as you were saying price will go up. It is not sure but it still good to be true.

[maxreish]

It doesn't actually totally btc miners banned. It was just a proposal but no yet implemented. But whether the China and their government decided to banned btc mining, if it is for the country's sake then it's fine. It will gonna affect btc's price for sure since the demand will go higher then the price will also go up.

[jakelyson]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

How will this increase demand? If this pushes through, it will lower hash rate, which will make mining much much more profitable to the remaining miners. It can actually lower price of bitcoin if no other country picks up the slack.

[WinslowIII]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

How will this increase demand? If this pushes through, it will lower hash rate, which will make mining much much more profitable to the remaining miners. It can actually lower price of bitcoin if no other country picks up the slack.

The less China the better.

[jazmuzika217]

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

[WinslowIII]

Communism and decentralization goes together like ham and moon rocks.

[Questat]

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

The price is going at the right path, it's going to reach $6000 soon, just watch it, it has never back down and will certainly break the resistance soon.
We stayed at $5000 long, time to move up as that's the right move in the bull period.

[futile-resistance]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

I believe you it is either you are new to the crypto space or you are still yet to study how crypto works, because I don't see any reason why you will this a good news, the bitcoin blockchain was designed to release a specific amount of reward every 10 minutes and the available of so many miners just make it difficult for lesser miners to benefit since they have more processing speed than lesser miners, after all they are the one who protecting the network and no miners mean easy hack on the Bitcoin network.

[miningguru]

It seems to me that now it is necessary to pay as little attention as possible to what the media is writing, as well as any online publications, because most likely this may not be completely reliable information. You just need to take into account the fact that the trend has changed and now we are all waiting for slow growth.

Yes, you are right we need to carefully watch the media news because many people are completely positive about China's ban. But it is not yet confirmed message from the Chinese government until we get full clarity information we shouldn't conclude it.

[samlaode]

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

You are right, we need to see the exact results, predict the cause only for reference. I think Chinese policies no longer have a strong influence on the market.

[Kemarit]

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

The price is going at the right path, it's going to reach $6000 soon, just watch it, it has never back down and will certainly break the resistance soon.
We stayed at $5000 long, time to move up as that's the right move in the bull period.

If we are going to look at how it affects the market after the news has been released, no negative impact has been seen. On the contrary, the market is really doing good as the price is now breaking another big barrier at $5200 and yeah it could be heading to $5500-$6000 and we could be back where we used to be before the actual massive sell off because of the Bitcoin Cash vs Bitcoin SV hash war. So I guess there is no negative effect so far and we have to thank the market for not really taking this news seriously.

[omonuyak]

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

You are right, we need to see the exact results, predict the cause only for reference. I think Chinese policies no longer have a strong influence on the market.

The Chinese politic that do affects bitcoin in 2016 and early 2017 has really lose it significant now but if Chinese government shut down minining activities there is no way this is not going to affect bitcoin in a long run because supply will decrease and the laws of demands will take it cause.

[Sithara007]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

Till now we don't have any news reports of mining farms raided by the cops or the electricity supply disconnected. So the impact may not be that serious. But the price movement for the past 4-5 days indicate that this factor may be contributing to the ongoing bull rally. And get ready for a major spike, in case  a few of the mining farms are forced to shut down.

[WinslowIII]

Since the Chinese miners can't legally sell bitcoins in China, does that mean that most have been simply holding their mined bitcoins since last year? or have they been selling for fiat illegally?

[AhmadM]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

I don't think its a good news and the demands will not be increased necessarily too by this news. If they really ban bitcoin miners in their county it means people who verify the bitcoin transactions will be decreased than before.

[Oilacris]

Good news, China Banned BTC miners,Demand will be increased so Price will go up.

No significant proof that demand would increase due to this ban considering that China is a major part when it comes to mining industry which means
it will mainly affect mining area but well it do have advantage yet centralization has been broken down.Well, due to such ban this Chinese miners would
just simply migrate into other countries and continue the operation so i dont think this would give out too much concern.

[d1ceplayer]

We cannot know if bitcoin will rise after the move of china to ban the miners but the good thing is bitcoin still in a $5k level and ready to break the $5600 goingbto $6000, lets wait for another month if the increase will continue or it will going to dump this time.

The price is going at the right path, it's going to reach $6000 soon, just watch it, it has never back down and will certainly break the resistance soon.
We stayed at $5000 long, time to move up as that's the right move in the bull period.

I agree with you that within the next 2 weeks or so, we might reach the value of $6000, one of the reason why we will see this is the ban of miners from china, the recent one is the delisting of BSV coin from exchanges and many other little factors for this month that will make it possible for the price to reach $6000.

I am even seeing it go past $6000 once we get to $5800, at $5800, I believe that some investors will panic buy out of fear of missing out, though it depends at the speed In which Bitcoin uses to rise to that value, if it’s a slow rise, we might not get a panic buy investors, but its sure we get them if the speed of increase is high.