Did China really crash Bitcoin again?

[fortunecrypto]

https://www.coincurb.com/news/china-unlikely-to-have-caused-recent-bitcoin-crash/

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

Even if they stated that they are not interested in Bitcoin and only on Blockchain, I don't think it will crash the market with this kind of statement, Bitcoin and blockchain go together if I am Chinese I will support my government move to create a new coin but I don't think to dump my Bitcoin because they don't believe on it, by adopting Blockchain, they are also adopting Bitcoin.

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1714505367

[Murat]

It's not fair at all, Every time when Bitcoin Falls then people instantly started to blame China for this situation but It's not true, Only China can't handle this situation because Bitcoin is not a centralized platform which is controllable, So I think there is no connection with China for this purpose, I also think that in recent time's happening with Bitcoin is a normal scenario regarding this platform, I believe Some of the Big amounts of Bitcoin holders are the main culprit for generating this price ups and downs, Not only that but also they are always manipulating this platform for getting advantages by this flow, In this way, Some people gets confused and gets panicked, so those are either sell their stock at a lot rate or stop trading, that's why this situation occurs very randomly.

[Reid]

Why is it always the Chinese who is at fault for every movement of bitcoin in price? 
Are they the new owner of the blockchain? 

We should really stop this nonsense.
They might have affected the price for a bit but not entirely. As I said, they "might". Not sure. There is a possibility they did not affect it at all.
This is one feature of bitcoin. It jumps into different prices, it just leans on how the market will move.
Do not go way beyond it just because one upcoming strong 3rd world country said something about it.

[CryptoBry]

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

People are just looking for reasons that is why they considered China, again, as the biggest culprit for the continuing decline of the value of Bitcoin. This is getting to be unfortunate really that the market is allowing wrong perceptions and ideas to be entering the ecosystem but that is what free market for all of us. Of course, China is not really the reason for this bloodbath but what can we do if people are thinking otherwise? Rumors are always flying off the shelves and when a story or perception is sticking to the wall then it can really affect the market, the market that has already been weakened for the past many weeks. Remember that the recent big rise of Bitcoin was attributed to the statement of China's President on the blockchain (not on Bitcoin actually) and this kind of influence is really unnecessary as we should be China-free right now.

[AniviaBtc]

China may have contributed in this cryptocrash but they are not to be blamed.
There are still a lot of big factors that may cause this crash. Fud news will be number 1 factor for sure. Why do people always blame china when something like this happen?

What do you mean they aren't to be blame? They have a big contribution on destroying bitcoin and crashing it down. China Government are trash because they lead the downward movement of bitcoin. The reason is because they want to create their own cryptocurrency so they continue to make effort in dominating top crypto currency around the world. That's for the sake of money and power.

[gabmen]

Lol. China always gets the blame for anything bad that's happening to BTC. Does the Chinese have that much influence over this market? I don't think so. Of course with how large the Chinese market is, it can have an effect. But not to the extent to crash the price. And I don't think this is a crash at all anyways. We've stayed for quite a while above the 9k mark and I was expecting a downward trend like this. We're giving China too much credit here lol.

[Eugenar]

Lol. China always gets the blame for anything bad that's happening to BTC. Does the Chinese have that much influence over this market? I don't think so. Of course with how large the Chinese market is, it can have an effect. But not to the extent to crash the price. And I don't think this is a crash at all anyways. We've stayed for quite a while above the 9k mark and I was expecting a downward trend like this. We're giving China too much credit here lol.

Basically you have a good point, it is not the Chinese that mainly causes the decline of cryptocurrency at this time, but rather, we are on the same network and the influence of China on cryptocurrency adoption is considerably contributing that many people around the world engage in crypto through investment. Even though it is not the Chinese who sold a large volume of crypto, they influence the whales as well to buy, and right now after the increase follows the correction to the market price in which the whole world also contributes. Thus, we shouldn't blame any entities/country to be the cause of the sudden decline.

[dothebeats]

Everything that has happened should not be attributed to China alone. We've been on a lackluster trading scene for quite some time now and it just so happened that the news regarding China clarifying that blockchain =/ bitcoin is timely to the expected downfall of the price. It could have been a lot worse though, but it seems that the bearish sentiment has taken a rest somehow and we're sitting quite nicely yet uncomfortably in the low $7000 range. The Chinese has a large influence over the mining scene, but when it comes to trading, I think they're not the largest of whales around.

[Hippocrypto]

Lol. China always gets the blame for anything bad that's happening to BTC. Does the Chinese have that much influence over this market? I don't think so. Of course with how large the Chinese market is, it can have an effect. But not to the extent to crash the price. And I don't think this is a crash at all anyways. We've stayed for quite a while above the 9k mark and I was expecting a downward trend like this. We're giving China too much credit here lol.

There's a participation of huge capitalist from China, of course the whales did a great contribution with this recent price recession. However, the predictions has been fulfilled badly to reality and has took a sudden outbreak which most people didn't expect to happen. Hopefully this opportunity will bring give some buyers a big change to own bitcoin once again at cheaper value.

[yohananaomi]

lol why always china?did Chinese government owns the whole market?please stop being noob we all know that the volatility of cryptocurrency is the main reason why market comes up and down,it only added some news to have a impact but the truth is most of the time manipulation causes those.

weeks ago we are very thankful for what Chinese president says towards blockchain and crypto and now just because there is a small changing of trend the blame is towards them again?nope i don't think it is the reason behind this fall.

I do not believe that they will do that for a long time because we know that in China the crypto is very high in activity and the population is very large there will certainly be a lot of influence on themselves. surely there are certain things that are hidden about this so they can also make a profit behind it?

[Kprawn]

https://www.coincurb.com/news/china-unlikely-to-have-caused-recent-bitcoin-crash/

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

I'm afraid so. The catch is mining is in full miner capitulsation now....with 60% of Bitmain S9's IMHO on the sha256-pow network...they are gonna fall off the wagon..thus...miners

are not HODL'ing anymore and they are selling coin in mass to pay for data hall and other past real life issues ..they are mostly underwater at a $7,250 usd btc price. Thus no HODL'ing

as most would want and MUST sell some coin to do real life issues. ...it sucks...add the need to (and probably can't) buy newer asic equipment that makes sense (see previous posts

i did under profil) but at 10c kwh and $7,350 usd Bitmain S17 pro 56TH miner at 2100 watts (moderate setting on watts) and you make $2.09 a day. When I looked today at also 10c

kWh a Bitmain S9i is negative -75c usd per day.

It is damn ugly out in the world.

Then as the OP states here...did China really crash BTC? I'm afraid so..the only other leg on the 3 legged stool left when mining as one and price as the other and trading/speculating is 3rd

leg of the stool....well the trader's and the nice little bots and long bets all got 'stuffed' on the China FUD on the BTC specific crackdown..mostly only noise that it is anyway.

Thus it is either a buy place to be for BTC or I should sell my Hoard and get completely out of BTC to cash.

I'm ridding it down, dumped $2,003 USD into BTC today and yesterday....boom or bust baby. My base figure is it MUST someday get above and stay above $10,000 USD in the future.

So I'm buying accordingly what I can afford bit by bit below that. If I don't think this is buy time for BTC, well then my BTC kool-aid drinking days are over and with my hoard

since 2013 it is all she wrote baby.

Boom or Beanie Baby I am gonna ride BTC either up to the heavens or down into a mine...what the heck..it is only money.

Boom or Doom I guess.

(hey, are we having 'fun' yet?) (sob!)

brad

If this was true, most miners would have been bankrupt by now. The price was at $3000 and climbing slowly since January 2019... so if your

calculations are accurate, most miners would have operated at a loss for months. (Difficulty might have dropped over that period) In any way,

I think the drop in the price was triggered by the Chinese news and the fud that was spread as a result. You only need a little bit of negative

news for the price to spiral down and to trigger the trade bots to sell.  

[peter0425]

sometimes this is our own mistakes as small investors as well,because the moment price starts to go down what we do is withdraw and have a thought in mind that "I will Buy back once the price goes lower" do you think this wont affect the market value?if tons of holders has this same thinking then what will happen?maybe the News about China may start the Fire but we are the wind whos blowing the fire to progress and be bigger and wider.

[Asmonist]

I think its not really China alone. We cannot blame them solely. Somehow their new practices or policies is affecting the bitcoin market but I believe there are still other factors. There are many influential countries too that may contribute in the causes of bitcoin downfall. Well, its just a matter of time. As we ho farther, we must also embrace these changes and downfall. Its part of the overall process.

[glendall]

I was never sure about the issue of bad or good news, the bitcoin chart has been experiencing a bearish trend over the past few weeks because it's time,
Today's correction is the beginning of a bullish BTC, and many professional traders know that.
there is no relationship of BTC prices that have been corrected because of Chinese news.

[DaveWave]

sometimes this is our own mistakes as small investors as well,because the moment price starts to go down what we do is withdraw and have a thought in mind that "I will Buy back once the price goes lower" do you think this wont affect the market value?if tons of holders has this same thinking then what will happen?maybe the News about China may start the Fire but we are the wind whos blowing the fire to progress and be bigger and wider.

You cannot blame anybody on that. If you lost money, that's your fault. Successful traders and investors can earn money either bears or bulls. A friend of mine once advised me that if I am a bitcoin lover then I should sell it a high price and then btfd to have more bitcoins.    

[piebeyb]

https://www.coincurb.com/news/china-unlikely-to-have-caused-recent-bitcoin-crash/

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

whatever news china bans on bitcoin users or wants to create its own blockchain, i am a person who never cared about it and read junk news from cointelegraph or others, i prefer the analysis of charts that i use, so why is the price of bitcoin going down because it is the market is in bearish condition, I only wait for the next 1 to 2 weeks to get the answer

[samcrypto]

https://www.coincurb.com/news/china-unlikely-to-have-caused-recent-bitcoin-crash/

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

The news is too focused on China as if its only the reason why its dumping, we have to consider many news for the recent dump and its true that we are dumping since then. Bitcoin can go up high again, the dump will be normal for now and it will not go crash hard again, let’s just stop spreading negative news about bitcoin and we will go up.

[pawanjain]

It's not necessary that China is the sole reason for the current drop in price of bitcoin. Bitcoin has been idle from a few weeks and I think it had to show some motion and may be that's why it dropped.
May be the shutdown of Binance and Bithumb just boosted the drop further which caused a significant difference but we can never tell what's the actual truth.
Never believe media because they just show us what they want to and the information shown to us might be manipulated just like how the data on Coinmarketcap is manipulated too.

[Oasisman]

This is what I was confused about during China showed interest in blockchain technology alone and no Bitcoin involved. How did Bitcoin price just pump right after it was announced by the Chinese leader when in fact blockchain and Bitcoin are two different things.
Is this a backfire by the wrong interpretation of the investors when the Chinese leader showed interest in blockchain?
I think it's just plain stupid when someone invested in crypto space couldn't decipher the difference between blockchain and Bitcoin.

[Kambal2000]

This is what I was confused about during China showed interest in blockchain technology alone and no Bitcoin involved. How did Bitcoin price just pump right after it was announced by the Chinese leader when in fact blockchain and Bitcoin are two different things.
Is this a backfire by the wrong interpretation of the investors when the Chinese leader showed interest in blockchain?
I think it's just plain stupid when someone invested in crypto space couldn't decipher the difference between blockchain and Bitcoin.

We don't really know what is happening, I am just being positive that some whales are trying to manipulate the price, creating fake news and negativity for panic sellers to sell, and they win so far, still I know that they are just taking this opportunity to accumulate and for them to sell at higher price again, real people who knows Bitcoin will not panic at all.