Problems In Chinas Economy & Escalating Trade War Will Cause Large Bitcoin Rally

[omone1]

Let them buy as much bitcoin as possible so that the market can explode. When the mighty America sneeze, other countries catch cold except Israel. Some friends almost slain me for saying USA can't deal with China economically. Now we are seeing a start of trade war.

[el kaka22]

Hong Kong and China are not totally the same thing and between USA and china trade war plus the early ICO ban and now mining ban china is trying to show that they are very against crypto but that is the government because they want to keep their cash valuable whereas people of china do not agree with the governments stance on this and China is actually losing a lot of income from taxes.

Now I am not entirely sure if this will make bitcoin go up for a long term affect, after all it is already decided and there is a trade war going on and there is an ICO ban for long time now and they did banned mining as well so what else could they do to make bitcoin rally again. However I am pretty sure it will have horrible affects on Chinese yuan which MAY result with bitcoin getting lower by Chinese people selling their btc to live on China that is getting worse.

[beerlover]

It's funny how we just assume that every rich man is using Bitcoin to store their value just like their are no other means for them to store their values. Well, I'm not trying to say I'm not okay with that, if it's true, I'm okay with it. Like who doesn't want to make profit these days? Though one thing I'm always sure about is that after the rally they will still withdraw and cause the price to plummet after it has gotten to peak price. But one thing for sure is that I'm always ready for any thing that happens.

We are yet to get to the stage where people will start using it as store of value, average rich man would not do that yet because of its volatility and not to talk of very rich men, but the rich men we have in the cryptocurrency now are just storing their coin for the purpose of investment which majority of them are long-term investors, so as their fund keeps piling up in the market, bitcoin will keep increase while it’s also being demanded by general crypto payment merchants.

This is how we will be getting our value increase while supply keeps decreasing for bitcoin to become a stable coin that can now be used for store of value.

[magneto]

CCP elites in China and rich Chinese businessmen are getting around capital controls and getting their savings out via Bitcoin.

Possibly. But that alone I don't think is reason enough that it would cause a huge spark in demand for bitcoin overnight.

This is because of the fact that if they are indeed using BTC as a tool to relocate their funds, they will most likely be doing so to convert to another fiat currency eventually, which means that the net effect will be close to zero.

This kind of usage of BTC as a capital flight regulations mitigator has already constituted a part of BTC's demand for ages, and it probably won't increase drastically all of a sudden.

The factor that will influence short term price movements is still mostly sentiments, speculators, and institutions. These fundamentals I think will reflect on price in the long run more so than the short.

[buwaytress]

If you think reading this side of the story's funny, try get on one of the Chinese search engines and read their version of it. Not any less or more ridiculous but gives you a really balanced perspective on the whole thing, but with the same point to arrive at: the days of old money and reserve are numbered. Something is going to give, and people are already looking for a safe haven before the machine breaks.

Some people believe they've found it already, and all this bodes well for Bitcoin.

[iv4n]

If you think reading this side of the story's funny, try get on one of the Chinese search engines and read their version of it. Not any less or more ridiculous but gives you a really balanced perspective on the whole thing, but with the same point to arrive at: the days of old money and reserve are numbered. Something is going to give, and people are already looking for a safe haven before the machine breaks.

Some people believe they've found it already, and all this bodes well for Bitcoin.

Safe heaven is the key word in all this. We all read about that trade war between China and US, their allies are just following. Huawei is the latest example of it, huge companies are involved. Crypto was and is safe heaven, cause in every war you have winners and losers, why to bet on China or US and risk, when you can bet on crypto and win in any case? Many people still need to discover crypto and how to get in, and eventually all people will be in crypto, in the end or beginning it`s better to trust algorithm with your money than to have trust in any government and people who run it.

[Kevin77]

Jason talks about how China's economy getting worse plus the US vs China trade war escalating means that many CCP elites in China and rich Chinese businessmen are getting around capital controls and getting their savings out via Bitcoin.

China is not getting worse like people think it does, the only problem they are having right now is mutual problem with other countries and mostly USA and they know that since its a mutual problem it will be solved much more quickly.

If USA is having a trade war with China it does affect the Chinese manufacturers badly and unfortunately to all world it will affect the price of products badly for everyone involved but that means American companies are not going to find cheap workers and cheap manufacturing neither and it won't help them neither.

Bitcoin does play a role in this for financial part of the deal to be done and people could use it as a loophole to deal with the money sending and receiving via the bitcoin or crypto world which would make Chinese yuan and dollar to lose value but its a temporary situation so its not a great thing for the long term, only good for short term.

[coin-investor]

Jason talks about how China's economy getting worse plus the US vs China trade war escalating means that many CCP elites in China and rich Chinese businessmen are getting around capital controls and getting their savings out via Bitcoin.


Click here to watch this video and to read more:

https://goldsilvernews.blogspot.com/2019/05/problems-in-chinas-economy-escalating.html

This will surely benefit the market, the Chinese are the strongest in bussiness just go to any Chinatown in any country and you will a lot of Chinese controlling some areas of business in that country, but I don't think they will just go for Bitcoin, with so many good coins in the market, they are going to diversify their investment.

[1Referee]

This is how we will be getting our value increase while supply keeps decreasing for bitcoin to become a stable coin that can now be used for store of value.

Being a store of value is the best feature Bitcoin can offer, and at the same time one that attracts the highest possible market cap in the long run. Gold is the perfect example of that. Its currency aspect is poor, has little industrial utility because it's so expensive, and it's hard to move from one place to another fast, but still it has a market cap of $8 trillion. Bitcoin does almost everything better.

I already noticed how people around me start asking question about how high Bitcoin will increase and what the best allocation of their wealth is to convert to Bitcoin. I'm pointing out that the price will increase as time goes by, but that they shouldn't focus on exact price levels, because the most important thing is to have wealth stored outside the banking system that keeps gaining value, and it's a solid hedge against fiat.

The mad gains are just a bonus for being early. It shouldn't be the goal in and of itself.

[TheCoinGrabber]

Many people here in the forum are speculating that the money the Rothschild got for selling that forest is gonna be invested into crypto and that they are just waiting for, or might even engineer a crash to buy in low.

Oh god....
I heard the flat earth society is also heavily invested in litecoin!  /s

Well, someone's got to believe in something stompix. Haven't you heard from the media yet that Bitcoin is supposed to be fascist -- like the OK sign?

It wouldn't be surprising if various "enemies" of mankind has staked out various crypto already. Ethereum is reptilian now. 

[arpon11]

Jason talks about how China's economy getting worse plus the US vs China trade war escalating means that many CCP elites in China and rich Chinese businessmen are getting around capital controls and getting their savings out via Bitcoin.


Click here to watch this video and to read more:

https://goldsilvernews.blogspot.com/2019/05/problems-in-chinas-economy-escalating.html

If this trading war between America and China is going to cause capital flow to cryptocurrencies market and bitcoin I will pray that the war should continue as this will make bitcoin become popular among the rich guys in China. I believe that something like this is going to happen one day and that will bring bitcoin to the mainstream media and society!  Bitcoin is a safe haven to any economic that is witnessing trade inbalances and the example of that is what we are seeing happening now.

[pinkpanther03]

As China is planning to eliminate bitcoin mining in their country, rich chinese people are starting to hide some of their fortune in terms of bitcoin. Consider also their economic status, things that happen to US few year ago when it experienced recession. With these, I think you're right that this may lead to bitcoin rally especially when bitcoin price is on the rise.

[Yutikas_11920]

As China is planning to eliminate bitcoin mining in their country, rich chinese people are starting to hide some of their fortune in terms of bitcoin. Consider also their economic status, things that happen to US few year ago when it experienced recession. With these, I think you're right that this may lead to bitcoin rally especially when bitcoin price is on the rise.

I think China will not completely eliminate bitcoin mining because as long as bitcoin can still be mined, some people will still do bitcoin mining until bitcoin has reached its maximum point of supply.

[NeverSop]

Jason talks about how China's economy getting worse plus the US vs China trade war escalating means that many CCP elites in China and rich Chinese businessmen are getting around capital controls and getting their savings out via Bitcoin.


Click here to watch this video and to read more:

https://goldsilvernews.blogspot.com/2019/05/problems-in-chinas-economy-escalating.html

If this trading war between America and China is going to cause capital flow to cryptocurrencies market and bitcoin I will pray that the war should continue as this will make bitcoin become popular among the rich guys in China. I believe that something like this is going to happen one day and that will bring bitcoin to the mainstream media and society!  Bitcoin is a safe haven to any economic that is witnessing trade inbalances and the example of that is what we are seeing happening now.

I think that the Chinese elite, organizations, and financial groups have infiltrated and speculated on bitcoin for a long time and hidden themselves by balancing and controlling their sources of money intentionally. We know beforehand that bitcoin in China has a huge impact on bitcoin. Because more than 70% of mining mines are operated there.

[Kemarit]

Looks like China is playing the "precious metal" card as it's last weapon against the US. They all know for a fact that US needed it for Iphones and advance precision weapons. So the trade war is really escalating and as much as I don't want to say this, it will spill over to military but General Joseph Dunford says that President Xi broke a promised that it won't militarize the South China Sea, but China is still up to this day but putting a lot of military installations on that disputed island. So it's a big scary specially in the Asian region.

But I'm not sure about the positive effect on bitcoin though, maybe Chinese elites are going to hedge their wealth on bitcoin, or maybe not. There are a lot of factors need to be considered before they thinking of shifting on cryptocurrency. So let's see if there's going to be a huge capital flow on our market because of the current tensions.

[Ozero]

If it also notes and uses the government of China, then the trade war between the US and China will help legalize cryptocurrency in that state. In any case, this will have a positive effect on the cryptocurrency as a whole. Including it is to be hoped that this trade war will lead to an increase in the price of cryptocurrency in this region, and indeed in the world as a whole.

[aad140386]

It is likely that this is really true and many Chinese businessmen convert yuan and dollars into bitcoins. In any case, there really is a real explanation for this. Business is scared the trade war and trying to insure its risks. Moreover, over the past 10-15 years in China, the number of millionaires has increased at times. But I think that if the trade war will escalate, then the consequences for the entire global economy may simply be unpredictable. And for cryptocurrency too. I can not say with confidence that cryptocurrencies will grow in the event of a new global financial crisis.

[Indrawan77]

This could be the big opportunity for bitcoin to rise and show the usefulness, bitcoin is the best investment because its not affected by politic or economic condition, the government couldn't affect anything on bitcoin, and this is the perfect example why crypto investment is better than fiat investment, if the war keep on going it could damage the fiat pretty bad and it will be bad for traditional investors

[ethereumhunter]

People will see a way to use bitcoin as the payment or the investment besides fiat because of the trade war between China and the US. I think people are tired to see their government make war in many aspects because that will make their country could be unstable to growth, and they can lose the opportunity to grow. And if the war continues, I think bitcoin itself will be one of the ways to help people so they can have a new way to make money for their daily life.

[justdimin]

Do you guys really think this can continue for a long time? I know Trump has been the president for the past couple years and I know that there is another election in 2020 (no idea which month, I am not american sorry) and if another candidate wins then maybe everything could change ?

If trump continues to be president for another 4 years that means we are going to see a lot more stuff like this and since he would be in his last term for sure he won't have to deal with popularity anymore and will do whatever he wants because he knows he is not going to get elected again and that may result with even much worse stuff as well. So all in all we may have a china war for far too long and much worse which would make bitcoin a lot better or we may have another candidate and china will be friendly again which would be bad for bitcoin, which is more plausible right now?