China bans Bitcoin again in 2021

[iTradeChips]

It seems surprising to me that a big country like China banned bitcoin. China has been making such news about bitcoin for a long time. everyone knows this. and because we know this, I find it difficult to take such news seriously. There is a large mass of miners in China, and it can even be considered the largest mass of miners. Therefore, the possibility that bitcoin will be banned in China does not seem right to me. these could be news stories created to create manipulation.

I’m a Chinese. I just hear that China government just ban those financial institutions to use crypto but not individual. This is not a news but an old news. I think those whales use this old news to lower the price and buy more in the dip.

Good to know that we share the same views. I mean China has been fighting its so called "battles" against Bitcoin, and it always loses (in my opinion). Chinese are still adopting the cryptocurrency and they could easily cash this out with no problem. Maybe China is starting to rev up their own digital currency so that it can be introduced as a digital currency now and then cryptocurrency later. Then they be able to pull off something unthinkable, Digital Yuan being king of cryptocurrencies.

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[ampu]

It was uncensored news. The cryptocurrency ban happened in China many years ago and that caused the world's largest crypto exchanges like Kucoin, Binance, Bibox, Huobi to leave China. We have seen that in the past.
Router misrepresented the news and that sent the market reeling once again despite a correction from reputable people in the crypto space.

[bryant.coleman]

Good to know that we share the same views. I mean China has been fighting its so called "battles" against Bitcoin, and it always loses (in my opinion). Chinese are still adopting the cryptocurrency and they could easily cash this out with no problem. Maybe China is starting to rev up their own digital currency so that it can be introduced as a digital currency now and then cryptocurrency later. Then they be able to pull off something unthinkable, Digital Yuan being king of cryptocurrencies.

China want to regulate cryptocurrency and that is all. If their intention was to ban cryptocurrency, then they could have shut down all the mining farms in China (which contribute to more than 80% of the mining hash rate). They are perfectly fine with the miners earning revenue by selling the mined coins. The only issue seems to be capital outflows in the form of cryptocurrency. Capital outflow has been an issue for China since long.. but now cryptocurrency has been used for making the transactions more anonymous.

[snipie]

It was uncensored news. The cryptocurrency ban happened in China many years ago and that caused the world's largest crypto exchanges like Kucoin, Binance, Bibox, Huobi to leave China. We have seen that in the past.
Router misrepresented the news and that sent the market reeling once again despite a correction from reputable people in the crypto space.

I read the same news in another article which mentioned that the ban is already on place since 2019? I no longer recall with the infinite bans already taking place in China, but Chinese institutions (govs) made a statement about the risk of volatility and loss of money about the already banned cryptocurrencies related activities..
The timing of such move is questionable, they were warning about manipulation while they were involved in it deeply.
I believe such move could be related to their national -not yet launched- crypto coin... make bitcoin and altcoins look bad

[TopTort777]

China is like a teenager during their period. Ban crypto today, unban it tomorrow. Say it is good for economy, but deny support of cryptocurrency commerce. Claim that all cryptocurrency is useless, yet promote digital yuan. The number of times China bans cryptocurrency soon will be equal to a number of times people consider Bitcoin to be dead. By looking on economy war between China and US, I would laugh if the US bans crypto today, because China would immediately unban it.

[pawanjain]

China bans bitcoin again in 2021.
Another fud in the bull run.  >



https://twitter.com/Reuters/status/1394665379616673792

China banned restricted bitcoin cryptocurrencies again?

But I thought they had already done that. Oh wait, they did it few times already in the past and now repeating it.
But does it matter ?
No, because despite banning cryptocurrencies in China we had seen a good growth in it in the bull run.
So may be we might face a correction for a long time but after that the bull run shall repeat and break the ATH again.

[nitrobetting]

Anyone else thinks this might be because they're thinking of launching their own digital yuan currency perhaps? I'm sure they are in favor of the development of technology and only want blockchain to better trace money to eliminate competition.

It's also about getting their fair share of how westeners are into black markets in China. Will it resonate on Bitcoin price dropping? I assume because some people might sell because of China.

[Kong Hey Pakboy]

China is like a teenager during their period. Ban crypto today, unban it tomorrow. Say it is good for economy, but deny support of cryptocurrency commerce. Claim that all cryptocurrency is useless, yet promote digital yuan. The number of times China bans cryptocurrency soon will be equal to a number of times people consider Bitcoin to be dead. By looking on economy war between China and US, I would laugh if the US bans crypto today, because China would immediately unban it.

If you still don't know how hypocritical Chinese government is then you should probably read a lot about their history and the hypocrisies that they committed. I think that this ban is going to be a decisive one because they seem to plan to do a nation wide testing phase for their digital yuan and they don't want any other digital currency to overshadow their financial magnum opus.

[LogitechMouse]

China bans bitcoin again in 2021.
Another fud in the bull run.  



https://twitter.com/Reuters/status/1394665379616673792

Besides the Elon Musk tweet, this is another reason why Bitcoin made another dump after the effect of Musk.
Are you thinking what I'm thinking. That the Communist tried to team up with Elon just to dump Bitcoin and crypto?? Just kidding its just another conspira-shit theory coming from me.

Overall, let the FUD's come again. We are here to buy at the dip . For those who sold at the peak or near the peak, congrats to you because you can buy again at a lower price. For those who are crying, stop crying accumulate more and hold. Its just a paper loss and history said it all already.

FUD's FUD's everywhere . I'm down half in my total portfolio already but still I'm happy because I can buy at a lower price.

[choechristian00]

China bans bitcoin again in 2021.
Another fud in the bull run.  



https://twitter.com/Reuters/status/1394665379616673792

"Recently, crypto currency prices have surged and plunged, and speculative cryptocurrency trading has rebounded, gravely jeopardising the protection of people's property and disturbing the normal economic and financial order," they said in a statement.

China has outlawed cryptocurrency exchanges and initial coin offerings, but not cryptocurrency ownership.

China has imposed a ban on Financial institutions and payment businesses have been barred from providing services connected to cryptocurrency transactions, and investors have been warned against engaging in speculative cryptocurrency trading.

It was China's most recent move to stifle a developing digital trading economy. Such institutions, including banks and online payment channels, are prohibited from providing clients with any cryptocurrency-related services under the ban.registration, trading, clearing, and settlement, according to a joint statement released by three industry groups on Tuesday.

[YOSHIE]

China bans bitcoin again in 2021.

How many times has China said about Bitcoin, the technology that is owned by China deserves a thumbs up, economy, development, trade, making fake sun, everything is ok, but, not with Bitcoin, China may be crazy to want to control Bitcoin under its control, considering Bitcoin is not a country or a synovac vaccine that they can trick.

China is indeed insane today saying control Bitcoin tomorrow they are saying something else, seems really desperate to beat the network / technology that is owned by Bitcoin.

[DapanasFruit]

I don't understand why we are still listening to anything that is happening in China. This is a country that will use everything they can against something they don't like, and they don't care what can be as long as they can get whatever they want. Yes, I can smell the coming back of 2017 in the cryptocurrency market. Back then, China was too powerful and anything that is negative from China became the impetus for market dump. In the past, we got Jamie Dimon but in the present we got Elon Musk, with some twists. China and Elon are two factors for the decline of Bitcoin and its big dip right now.

[Ecol]

These are the movements expected from China. But the latest news was already a news story. So they put fake news on the market and bitcoin hit hard.

[Golftech]

These are the movements expected from China. But the latest news was already a news story. So they put fake news on the market and bitcoin hit hard.

Another reason why it's tough for bitcoin to recover quickly, aside from Musk, China also have big impact in terms

of  creating fuds like this. They manage to play with the market and investors from that part of the world are silently

inside this industry and quitely gaining, with such news those people are afraid being haunted by the government

they don't have any other option but to comply.

[Tumanggor]

These are the movements expected from China. But the latest news was already a news story. So they put fake news on the market and bitcoin hit hard.

China has been wanting to fight Bitcoin for a long time but there hasn't been a chance
when Elon musk made a statement about bitcoin that's where china wanted to take the opportunity to make another fud

the fact is the strength of Bitcoin is not weakening despite a lot of fud spreading
be patient, Bitcoin price is currently relatively stable and has the potential to bounce back to $ 60000

[michellee]

These are the movements expected from China. But the latest news was already a news story. So they put fake news on the market and bitcoin hit hard.

You do not need to worry about that. Sooner or later, the crypto market will be back to the last high price and you will have a chance to make a profit. But now, we need to enjoy the bitcoin price moves and I think the bitcoin price will still like this month. We have many chances to see bitcoin prices will increase and it will happen in the future.

China can say anything about bitcoin, including to bans bitcoin again. But bitcoin will not stay at a low price forever, and there will be a time for bitcoin to start a rally to the high price.

[online73]

Hello everybody. In 2021 they will be banned, in 2022 they will be allowed, it all looks like some kind of joke. How many times has this happened and it is hardly worth taking it seriously. Again, well, the price of Bitcoin will drop for a while - the lower the price of Bitcoin falls, the more you can buy it.

[bosede1]

I panicked as I open this thread for me to see that the ban is for financial and payment-related issues at least I am a bit relieved. But I know within me that this will constitute another dip in the prices of Cryptocurrency and another chance created means for people to buy during this period I just hope that history will repeat itself and within some speculated time we will experience another green light than ever before.

[hatakeyudu]

China bans bitcoin again in 2021.
Another fud in the bull run.  

How many times China bans Bitcoin?

They've never accepted Bitcoin. LOL, bad FUD.

[secretgirl]

It seems surprising to me that a big country like China banned bitcoin. China has been making such news about bitcoin for a long time. everyone knows this. and because we know this, I find it difficult to take such news seriously. There is a large mass of miners in China, and it can even be considered the largest mass of miners. Therefore, the possibility that bitcoin will be banned in China does not seem right to me. these could be news stories created to create manipulation.

I’m a Chinese. I just hear that China government just ban those financial institutions to use crypto but not individual. This is not a news but an old news. I think those whales use this old news to lower the price and buy more in the dip.

Good to know that we share the same views. I mean China has been fighting its so called "battles" against Bitcoin, and it always loses (in my opinion). Chinese are still adopting the cryptocurrency and they could easily cash this out with no problem. Maybe China is starting to rev up their own digital currency so that it can be introduced as a digital currency now and then cryptocurrency later. Then they be able to pull off something unthinkable, Digital Yuan being king of cryptocurrencies.

yes, maybe it is true what you say. the Chinese just wanted to introduce their own currency and wanted to increase its popularity, maybe that was the goal. We all know, from previous years China did prohibit bitcoin transactions, one reason is that virtual currency is difficult to control and easy to become a fraud. but it is not impossible that they want to make their own currency that gets legality from the government. and they dream to be able to compete and beat bitcoin, so they prohibit transactions using bitcoin.