China Has Something to Do with Bitcoin's Price Increase After All

[cryptozink]

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

[Mandoy]

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

There is something fishy how the bitcoin market goes on. I guess the reason why bitcoin market fluctuated weeks ago is in preparation of China's declaration on blockchain technology. Remember they are the biggest miner of bitcoin and thus China has the ability to influence the market greatly. After the announcement of China the market recovered suddenly in big volume. I think its all a propaganda. They are behind the market fall and also the price recovery. I think its a strategy to show the world that their actions have huge impact to the world of cryptocurrency.

 I have no evidence on my claims since this is just an idea I came up when I tried to analyze some data. I dont speak of facts but of probability. But I do hope that I am wrong on these.

[Darker45]

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

China has something to do with Bitcoin's price increase. No one denies that. But, to be clear, the recent Bitcoin price increase is not solely about China. China was not everything to what happened. I don't like hearing statements saying China is the one that caused the pump, China is the reason why Bitcoin's price increased, China caused the massive dump, China is the one that controls the fate of Bitcoin because the largest mining farm is in China, etc. What do all these imply, that China is lording over Bitcoin? Or Bitcoin is in China's hands? I don't share this.

[Oasisman]

It's always gonna be better if there's a link provided to validate this claim about China's involvement in the recent price pump. If this news is true, I still dont see any relevance from this news to the price. Not unless, Chinese government will remove the restrictions and bans against bitcoin and other Cryptocurrency, including exchanges. That way people could easily accumulate Bitcoin without being bothered against the authorities, thus, this will surely will make a positive impact in the market due to massive buy out.

[cryptozink]

Zuck getting grilled in Washington was the reason for the crash. China, manipulations/shorts are responsible for the sudden price jump.

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

China has something to do with Bitcoin's price increase. No one denies that. But, to be clear, the recent Bitcoin price increase is not solely about China. China was not everything to what happened. I don't like hearing statements saying China is the one that caused the pump, China is the reason why Bitcoin's price increased, China caused the massive dump, China is the one that controls the fate of Bitcoin because the largest mining farm is in China, etc. What do all these imply, that China is lording over Bitcoin? Or Bitcoin is in China's hands? I don't share this.

[cryptozink]

No one speaks of facts when it comes to crypto or BTC. It's all opinions and speculations; for now.

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

There is something fishy how the bitcoin market goes on. I guess the reason why bitcoin market fluctuated weeks ago is in preparation of China's declaration on blockchain technology. Remember they are the biggest miner of bitcoin and thus China has the ability to influence the market greatly. After the announcement of China the market recovered suddenly in big volume. I think its all a propaganda. They are behind the market fall and also the price recovery. I think its a strategy to show the world that their actions have huge impact to the world of cryptocurrency.

 I have no evidence on my claims since this is just an idea I came up when I tried to analyze some data. I dont speak of facts but of probability. But I do hope that I am wrong on these.

[Doell]

all related to the increase in bitcoin not just china but some countries have contributed to the rise in bitcoin ,although everything is directed to china but we must realize that the whole world is enlivening demand and supply so let's be more united in growing the value of bitcoin

[Kyraishi]

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

Damn, that's something new. I thought the biggest reason was due to it being praised by the chinese president and then making a huge annoucment they they would be entering the crypto-currency market, this puts a different spin on things.

I definetly would say that the broadcast showcased that China was fully accepting of Bitcoin and it's likely the government coordinated it like so, and a lot of investers that were only stopped due to China's restrictions if it where finally able to dump funds in the crypto-currency.

They've made a huge impact, the recent price pumps tells us China means buisness.

[blckhawk]

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

Well now I'm quite confused. It really looked like it was only a whale manipulating the market. With much privacy to China, these news isn't relayed to us instantly. I've speculated at first that China has something to do with their announcement, but I certainly didn't know about it going on national television, so I thought it was just another whale. If it's true, then the possibility that China being one of the reason of the sudden surge is likely.

[pooya87]

then why didn't bitcoin price rise up previous times where similar programs ran on the state television stations?
it seems to me like people are trying too hard to justify a simple price rise that is only a correction of a big drop that created a negative/reverse bubble. the fact that some program ran on TV in one country that many people may not have even seen it is not the reason why price went up, not to mention that even if "new people" were introduced to bitcoin, they wouldn't just run to buy bitcoin right away! specially since there aren't any exchanges left in China for them to buy bitcoin from!

[Oasisman]

Read about China's president Xi Jinping announcement yesterday. https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/. I originally wrote that his announcement had nothing to do with the sudden price pump, but I have taken that back.....it has everything to do with it.

It's always gonna be better if there's a link provided to validate this claim about China's involvement in the recent price pump. If this news is true, I still dont see any relevance from this news to the price. Not unless, Chinese government will remove the restrictions and bans against bitcoin and other Cryptocurrency, including exchanges. That way people could easily accumulate Bitcoin without being bothered against the authorities, thus, this will surely will make a positive impact in the market due to massive buy out.

I have read the news yesterday regarding the Chinese leader showing interest and future plans in blockchain technology, but he didn't mentioned about Bitcoin and other cryptocurrency ( I may be wrong, since there's a lot of source in the internet )
Now, I'm talking about the television station that has a Bitcoin related segment. Is China making a slow steps to take back what they are against of from Cryptocurrency?

[cryptozink]

Yep, that's big news. China allowing its 1.3 billion people to participate in this crypto market is a big game changer for Bitcoin and crypto as a whole.

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

Damn, that's something new. I thought the biggest reason was due to it being praised by the chinese president and then making a huge annoucment they they would be entering the crypto-currency market, this puts a different spin on things.

I definetly would say that the broadcast showcased that China was fully accepting of Bitcoin and it's likely the government coordinated it like so, and a lot of investers that were only stopped due to China's restrictions if it where finally able to dump funds in the crypto-currency.

They've made a huge impact, the recent price pumps tells us China means buisness.

[cryptozink]

The broadcast is 100% true. Wait and see.

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

Well now I'm quite confused. It really looked like it was only a whale manipulating the market. With much privacy to China, these news isn't relayed to us instantly. I've speculated at first that China has something to do with their announcement, but I certainly didn't know about it going on national television, so I thought it was just another whale. If it's true, then the possibility that China being one of the reason of the sudden surge is likely.

[cryptozink]

We're not talking about a regular state program. It's a state program with a population of 1.3 billion. And If any Chinese state program broadcast something like that before, they didn't do it in the same day as President Xi's announcing they're embracing blockchain technology. 

then why didn't bitcoin price rise up previous times where similar programs ran on the state television stations?
it seems to me like people are trying too hard to justify a simple price rise that is only a correction of a big drop that created a negative/reverse bubble. the fact that some program ran on TV in one country that many people may not have even seen it is not the reason why price went up, not to mention that even if "new people" were introduced to bitcoin, they wouldn't just run to buy bitcoin right away! specially since there aren't any exchanges left in China for them to buy bitcoin from!

[cryptozink]

He didn't have to mention Bitcoin for it to be affected. Remember, the majority of people know about Bitcoin, not blockchain or crypto...BTC is king.

Read about China's president Xi Jinping announcement yesterday. https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/. I originally wrote that his announcement had nothing to do with the sudden price pump, but I have taken that back.....it has everything to do with it.

It's always gonna be better if there's a link provided to validate this claim about China's involvement in the recent price pump. If this news is true, I still dont see any relevance from this news to the price. Not unless, Chinese government will remove the restrictions and bans against bitcoin and other Cryptocurrency, including exchanges. That way people could easily accumulate Bitcoin without being bothered against the authorities, thus, this will surely will make a positive impact in the market due to massive buy out.

I have read the news yesterday regarding the Chinese leader showing interest and future plans in blockchain technology, but he didn't mentioned about Bitcoin and other cryptocurrency ( I may be wrong, since there's a lot of source in the internet )
Now, I'm talking about the television station that has a Bitcoin related segment. Is China making a slow steps to take back what they are against of from Cryptocurrency?

[kooboat]

China has always been a major stakeholder of cryptocurrencies and not just bitcoin alone. There are many cryptocurrency enthusiasts who are actively involved in what happens to bitcoin.Most people are wrong when they assume that due to the numerous regulation involving the use of bitcoin, they are not really concerned about the price of bitcoin.

[Ailmand]

There are a lot of big investors in China and I think a big portion of bitcoin is in China. They can affect and manipulate the price. I think the market price of bitcoin suddenly rose up just after their president announced support for blockchain technology. I guess China has a great influence in the market.

[Darooghe]

A lot of chinese investors and citizens hold or mine bitcoin. i presume it is not a significant portion of their population, but enough to manipulate market. prices have been seen to fluctuate as the Chinese government put out news or provide a glimpse as to where they are on regulating bitcoin and blockchain. China has never been a friend to Cryptocurrencies. the entire concept is in direct opposition to their own domestic ideology of control, restrictions and regulations. A quick google search of their domestic economic policy should give you insight into how they're going to handle bitcoin and other Cryptocurrencies.

As policy updates from the government come out, people are impulsively triggered to act on it and this influences both local and global markets of bitcoin-fiat pricing. There also is lot of speculation on Chinese investors getting into mining and HODLing which eventually secures the network and drives up the price as more people adopt on a global scale. if the Chinese government declares war, say bye to Cryptos adoption, or at least expect a slowly adoption.

[barabarian1]

in my opinion the rise of bitcoin yesterday was indeed more or less influenced by the news about the Chinese president who supported the blockchain. because most investors and bitcoin miners come from China. bitcoin prices in my opinion can indeed be influenced by news about cryptocurrency. Good news will push the price of bitcoin and bad news can also make the price of bitcoin go down.

[Wysi]

There are a lot of big investors in China and I think a big portion of bitcoin is in China. They can affect and manipulate the price. I think the market price of bitcoin suddenly rose up just after their president announced support for blockchain technology. I guess China has a great influence in the market.

China has been cracking down on bitcoin and miners from few years and all of a sudden their support for blackchain is bit surprising and they do have miners but when it comes to investment there are other counties who have invested much more in bitcoin than China and I feel China is doing this just to control the bitcoin by having people invested and then again might threaten to ban it thus sending a panic selling waves across.