The current news in China is just a fud or something more?

[CrownMade423]

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

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[landoffaucets]

China showed interest in a blockchain technology but not in cryptocurrencies like Ethereum or Bitcoin. They are going to create private blockchain powered by digital Yuan, probably to track more chinese citizens and to secure that they are going to ban cryptocurrency trading. 

[nelson4lov]

There's a general misconception about the recent news particularly the one about Police raiding Binance office. It appears that was a false accusation against binance.

China is clearly not fans of Bitcoin and other Cryptocurrencies. It's also clear that Chinese government are against Token offerings, be it ICO, IEO, STO etc. They're simply interested in blockchain technology, the distributed ledger that powers all currencies. If China will ever be interested in any cryptocurrency, It'll be DCEP  – China's National Digital Currency.

[poornamelessme]

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

According to Binance, there was no raid. It's debatable if they even have a Shanghai office.

It's also kind of moot ... market overreacted to China making a positive blockchain announcement previously. Then backtracked when it became clear that China was referring to just the blockchain, not specific crypto projects.

It came across as simply a way for whales to temporarily manipulate the market to me. News which shouldn't have made a difference = 3K hike. So when it became clear that folks were misreading China's intentions, 3K retrace. And of course alts get smushed both times.

[htsy585]

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

Since China ventured into cryptocurrency officially they have been doing ton of work to crack down on illicit cryptocurrency centers. Its a good thing they are doing but it looks like they are intentionally carrying out the job to cause more fud which is quite relatable since they don't even rate bitcoin above Neo.

[aemma]

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

I tend to believe China is very much interested in blockchain related matters but just being discreet with it. Another thing to understand is that, irrespective of the number of times such news emanates from China there is always a come back for the blockchain space. So don't be confused, just see it as some of the issues that will pass with time because blockchain has come to stay.

[Febo]

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

Two weeks ago China country president said that they dont allow anyone call blcockhain a scam. Those that will keep saying that will get punished. People mixed blockchain with Bitcoin or cryptocurrencies so value of them went up 20%. Few days ago it was clearly explained that he had in mind blockchain and nothing else. So prices corrected to about what was before that news two weeks ago. For those that held coins and dont live in China nothing changed really. Those in China need to be careful to not spread FUD about blockchain or might get beheaded.

[cryptothreads]

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

I think this is FUD news affecting the psychology of investors and after this time the market will continue to fluctuate. I'm not sure what will happen next but the bear market will continue to last until this year so there won't be many good opportunities for people to make money. However, if you consider buying Bitcoin at $6900 today, this is the safest option for investors.

Of course, China will make the market worse and whales will buy very cheap prices so don't sell at this stage.

[Aabcde]

I think this is part of the game for those who want to buy cheap bitcoin. Because many people say that China is the most bitcoin player, so if the issue arises there will surely affect the price of bitcoin. Moreover, their government strictly prohibits and will launch DCEP. CZ also said that there were no raids on his office, because they didn't have it there. Maybe this is the main ingredient to reduce the price of bitcoin so that the whale can buy a lot at a cheap price.

[befriendmywater]

I think this is part of the game for those who want to buy cheap bitcoin. Because many people say that China is the most bitcoin player, so if the issue arises there will surely affect the price of bitcoin. Moreover, their government strictly prohibits and will launch DCEP. CZ also said that there were no raids on his office, because they didn't have it there. Maybe this is the main ingredient to reduce the price of bitcoin so that the whale can buy a lot at a cheap price.

Yes. Our market is down by whales. I mean their strategy, not any country that creates FUD. All were in their calculations and market manipulation freely. No country or law can handle this crypto market because everything is anonymous.

[o48o]

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

Who knows at this point, we all should have at least one Chinese contact who understands the context of these news because lots of news outlets seems to be biased or lost in translation.
But even if we hear correct news, markets doesn't seem to understand the context (i am referring to last irrational China coin fomo).

[Soots]

I think this is part of the game for those who want to buy cheap bitcoin. Because many people say that China is the most bitcoin player, so if the issue arises there will surely affect the price of bitcoin. Moreover, their government strictly prohibits and will launch DCEP. CZ also said that there were no raids on his office, because they didn't have it there. Maybe this is the main ingredient to reduce the price of bitcoin so that the whale can buy a lot at a cheap price.

If this is part of their strategies, much better if we accumulate our holdings quantity before the big one will commence. Let's grab while the opportunity is there. Don't wait for timely price bounces to frequently spikes at higher value, and we can't even purchase bitcoin when it became so expensive.

[Bitcoinjheta]

In the current news were China declares a total ban for crypto trading is not something a reason why market are still bleeding up to this time. As remembering in the year 2017 China already making FUDs but it can not affects the uptrend of 2017 bull run, In my own thinking market tends to drop every end of the year.

[ajiz138]

China showed interest in a blockchain technology but not in cryptocurrencies like Ethereum or Bitcoin. They are going to create private blockchain powered by digital Yuan, probably to track more chinese citizens and to secure that they are going to ban cryptocurrency trading. 

What you say is true. China is only interested and wants to embrace the blockchain for development in their latest innovation sector. Not interested in bitcoin. Many news are wrong in responding about China accepting bLokchain. Blockchain and bitcoin are different platforms.

[K4C]

The news about a Police raid in the office of Binance exchange was definitely false, the CEO of the exchange has come to refute that claim and has even said that "The Block" would be sued for publishing it, but I think the news about a crackdown on Cryptocurrency exchbages might be real, it might just be that the Chinese Government are planning to open and operate their own exchange for their coin when it's launched and wants theirs to be the sole cryptocurrency exchange in existence in the whole if China, only time would tell.

[adjed]

I think the whole thing is just a classic example of Market manipulation, we saw how the news about the Chinese Government's support for Cryptocurrencies boosted the Bitcoin price for about +30% in just a single morning and it's not such a leap to think that the opposite would be the case if there was a negative news from China as well, first it was the Binance FUD which was proven wrong but at that point, had already started the damage, then news filtered through of the Chinese Government's hatred for Cryptocurrency exchanges, let's see ho this one plays out.

[Text]

There are news popping outs that will get you confused indeed. Some of them may be true or not. I hope it is all clear to you now that the recent news about China is only interested in blockchain technology and not to Bitcoin or other cryptocurrencies. The police raid is not fact. Government is not with blockchain because they can't control it, this technology is decentralized.

[reallester]

I felt same way too. Sometimes I ask if China is confused with the way to go about blockchain. The current news in China seem to be reason for the FUD or could be market manipulations. Crypto space in general can't be 100% predictable.

[bgaf]

That is no good. If really China will adopt blockchain but wanted to support only their own then this isnt gonna be helpful on the entire market cap of cryptocurrency. They will impose their own usage on their own benefit. So what will happened on Chinese Investors that affiliated with pioneered coins such as btc and eth? They could be influenced by their own people to use their own digital currency.

[sikke]

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

Complete FUD.

Markets are bearish which is the primary reason for the drop in price. When markets are bearish they tend to see everything in a more negative light than usual, which explains the fact why markets moved so disproportionally to the magnitude of the news which actually isn't that great of a deal if you looked into it.

Exchanges in China were already driven out from 2 years ago after the ICO and mining bans. If you look at major chinese exchanges almost all have already relocated, so it's not like it's coming as a shock to anyone or anything like that.