How BIG will the crypto market be if China legit cryptos?

[Eclipse26]

Honestly, I can't tell. China is a powerful country that have 1/8 population of the world (if I'm not mistaken). But China will probably not fully support cryptocurrency, only its own digital currency. I don't really think that they will support bitcoin. They might create their own that will compete with bitcoin.
But if ever they will legalize crypto, that's a big impact on the market. As I have said, they have a big population. With that population, it's possible for them to dominate in the crypto market.

[rmhuntley]

Bitcoin (BTC) is now recognized as a legal asset that will be owned, transferred, and used as a media of payment of goods and services in China.  I predict if the crypto market in China is a legit cryptos then it will boom could Quadrillion.

[dothebeats]

China legalizing bitcoin don’t necessarily mean a bull run or expansion of the market. We already have had enough of the Chinese influence in our markets and network that it’s hard to think what more could they add if the head honchos of their economy are already involved in a way. Perhaps it will just be more evident to the Chinese the effects and applications of bitcoin, but not to the point that a bull run or an increased valuation will happen.

[Experia]

imagine the market before that it reaches 20k dollar, that is the minimum possibility that will happen if China will work for the good of cryptocurrency not only on their country but they will affect the mass of the countries in the world,they are one of the most influencer in the world therefore if they support a certain product it will really had a good effect.

[goaldigger]

Billion？ Trillion？Quadrillion？

As big as your mind can think, well we can conclude the whole population of China and we will see the numbers from that, excluding the populations in other countries. If China fully adopt cryptocurrency, we will go up high. New ATH can be made if the mass adoption started, but don’t get too excited because it will take more time.

[ethereumhunter]

It needs time before we can see a massive exploding which will happen in crypto if China legalizes cryptocurrency. We cannot expect a cryptocurrency to become thousand, million, or even billion dollars in just a week, month, or year. But we need to wait and see, but that will have a significant impact on cryptocurrency, especially if there is not only China that will legalize crypto, but the other big countries follow what China does.

[gabmen]

Legalization of crypocurrencies in China doesn't automatically mean that everyone suddenly puts their money into cryptocurrencies, so don't get your hopes up. With that said, if they really wanted cryptocurrencies, they would already grab some through exchanges like btcc.com; because though cryptocurrencies aren't declared legal in China(as far as I know), they aren't illegal either.

The chinese government did ban a couple of crypto features back then like mining and some exchanges. Though i think they're softening up a little now and it would be really good news if china entirely opens up to crypto. I think there would be a considerable flow of chinese yuan in the market that could spike the prices of btc and major coins up. Though it's not likely going to start up a run that many are hoping for.

[Zeke_23]

Legalization of crypocurrencies in China doesn't automatically mean that everyone suddenly puts their money into cryptocurrencies, so don't get your hopes up. With that said, if they really wanted cryptocurrencies, they would already grab some through exchanges like btcc.com; because though cryptocurrencies aren't declared legal in China(as far as I know), they aren't illegal either.

The chinese government did ban a couple of crypto features back then like mining and some exchanges. Though i think they're softening up a little now and it would be really good news if china entirely opens up to crypto. I think there would be a considerable flow of chinese yuan in the market that could spike the prices of btc and major coins up. Though it's not likely going to start up a run that many are hoping for.

Yes and we saw how they affect the crypto market when they prohibit the use of crypto features in their country back then. Their influence might pick the interest of some popular countries if they started the first move. What if the opposite will happen, I mean if they fully legalize it, I can't imagine the possible thing to happen but it is full of positivity and might trigger the prices of crypto in the market.

[alexforneus]

China will never legalize crypto in general. This will break thier censorship

[Gotumoot]

Billion？ Trillion？Quadrillion？

We can't count it on a million or trillion it depends on the person who has interest in crypto. Note that crypto curenncy has not yet been fully adopted worldwide so we will not immediately know how much of an impact it will have on altcoin prices especially on bitcoin.

[nett89]

For sure it will change worlds finances and maybe whole economy, especially when we add to it Libra launch

[FlightyPouch]

I don't think we should even talk about this since, despite the ban, I am sure a lot of Chinese still use crypto currency but not in the way that they will be caught since we all know bitcoin is decentralized. There is a difference when they unban it but I don't think it will still the same as now.

[Meowth05]

China is a big country indeed, they are the most populous country in the world and that will have definitely cause a big impact in the crypto industry however, that would not be enough to hit a billion, trillion or even quadrillion amount. Participation and massive adoption of countries across the world might put it in reality. If China legalize the utilization of crypto then we could see an another bull run market.

[White Christmas]

Billion？ Trillion？Quadrillion？

The country China is so big in which their population is also huge so just imagine if all of the citizen of the China legalized crypto then it would be probably a million or rather a billion impact into the current market.
Just imagine the impact when President Xi announced that he is open on the blockchain technology, just imagine the impact of this to the current market. What if they will finish the token or coin that they are making today, what would be the impact of it the global marketcap, I assure it would be really big.

[imutlinda]

Billion？ Trillion？Quadrillion？

The country China is so big in which their population is also huge so just imagine if all of the citizen of the China legalized crypto then it would be probably a million or rather a billion impact into the current market.
Just imagine the impact when President Xi announced that he is open on the blockchain technology, just imagine the impact of this to the current market. What if they will finish the token or coin that they are making today, what would be the impact of it the global marketcap, I assure it would be really big.

but so far I have not seen real data about the amount of crypto use in China, maybe some time ago the Chinese president made good news but so far I personally do not know whether crypto is legal in China or not. so don't be quick to assume

[jets567]

Billion？ Trillion？Quadrillion？

Either Trillion and Quadrillion is exaggerating figure.

For me Trillion is achievable since the marketcap ATH was $828 Billion and if China pull their banned about cryptocurrency then the marketcap will drastically increased because chinese are still one of big holders of crypto's even with their current situation so what more if the government in China make it legal on the country.

[kaya11]

Legalization of crypocurrencies in China doesn't automatically mean that everyone suddenly puts their money into cryptocurrencies, so don't get your hopes up. With that said, if they really wanted cryptocurrencies, they would already grab some through exchanges like btcc.com; because though cryptocurrencies aren't declared legal in China(as far as I know), they aren't illegal either.

But it will be a massive fuel to run crypto currencies around the world on the long run. China is just great in most of everything, production machinery, name it. They have conquered most of the countries in their products. Imagine a new silk road is set up, but in a different manner, precision, transparent and less time consumption.

[abdobe]

Billion？ Trillion？Quadrillion？

I think that China will focus on the national cryptocurrency, but this does not guarantee the biggest profit that you have ever seen, for the cryptocurrency market. Bitcoin is considered the main coin for the crypto market, but as you can see, China is in no hurry to support and promote this.

Billion？ Trillion？Quadrillion？No one knows 

[Wysi]

Legalization of crypocurrencies in China doesn't automatically mean that everyone suddenly puts their money into cryptocurrencies, so don't get your hopes up. With that said, if they really wanted cryptocurrencies, they would already grab some through exchanges like btcc.com; because though cryptocurrencies aren't declared legal in China(as far as I know), they aren't illegal either.

But it will be a massive fuel to run crypto currencies around the world on the long run. China is just great in most of everything, production machinery, name it. They have conquered most of the countries in their products. Imagine a new silk road is set up, but in a different manner, precision, transparent and less time consumption.

That's what makes us worry because where ever China has been it has conquered that domain let it be manufacturing or engineering or advanced technology etc.  What if they try to do same with crypto and control the price because there is a huge difference between whales manipulating price and a country doing it.  Not sure if there will be more positive effects or negative.

[Mike Mayor]

It won't change anything because the holders of crypto are already holding and people certainly still do use crypto. They cannot govern such ridiculous laws it's just impossible. There will be just as many new people adopting as there ever would be. If Chine makes crypto "legit" (not sure what that means btw) that won't suddenly make the masses run to crypto open armed. They want their own crypto so let us wait and see how that unfolds first before we look too far ahead.