New (old) FUD coming from China?

[BurningChrome]

Another wave of Bitcoin FUD is coming from China as the Chinese central bank claimed that local state agencies have improved tools to fight against crypto transactions more effectively.

The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country.

The People’s Bank of China (PBoC) officially announced on Friday a set of new measures to fight against crypto adoption in China, including promoting stronger inter-departmental coordination in cracking down crypto activity.

https://cointelegraph.com/news/chinese-regulators-unite-forces-to-crack-down-on-crypto

Can this negatively affect the price of Bitcoin or has the market already reacted to it because it is old news?

[sujonali1819]

Ha ha... China always come to such news to dump BTC lol. This is now very normal in crypto market. Don't know exactly why the market crash again today. But this could be a reason also. Because know after such news market will crash temporary. So why they don't take the opportunities of sell and buy back.

The dump of market is temporary. If we see back history of bitcoin we may see there are lot of news and pump dump game in crypto. But it was not last long. Hope this time also happen the same thing and bitcoin will rise again with more power.

[Dave1]

It will have an effect in the price, as much as we hate the Chinese news and fud, it has an impact still. Just look at the price in the last 24 hours, we've seen another pullback to $41k-$42. However, the dent in the price will not be be long term. Sooner or later, investors will realized that this is the nth time the China has issues a ban or everything related to crypto. So I expect a bounce after this, even a new all time high at the end of the year.

[adaseb]

The news still has an effect on price however not as bad as the prior times when China decided to crack down on crypto. I still remember back in early 2014 when they banned it and combined with MtGox bankruptcy it had a major effect on price. What happened today is pretty minor.

Just like they banned crypto mining a few months back. Eventually the market absorbed this news and forgot about it. The hashrate is back and everything. And with this news it will be the same more or less. This FUD and there are people who are selling their crypto for the cheap due to this news.

[Poker Player]

Yeah, same old story, FUD from China, how shocking lol.

They are making a mistake, with their desire to control everything. If China has been successful it was because of the reforms introduced by
Deng Xiaoping that moved China away from Communism in economic policy and closer to capitalism. Now it seems that they want to go backwards and with Bitcoin they are making the same mistake they made by not switching to the gold standard:

How the silver standard wrecked Chinas economy.

[pooya87]

What is interesting about this very old FUD is that it didn't have that much effect on the price. The drop was negligible and more importantly it couldn't even break the $40k support which was the biggest goal the FUD spreaders have been pursing in the past week.
Although this is not showing market maturity but it shows that the weak hands are no longer holding any more bitcoins to panic sell. There are only market makers desperately trying to bring the price down by wasting a lot of money.

[DU18]

This is a bigger one, they're double downing on banning crypto altogether as the articles says that they're finally banning crypto transactions so it's most likely that they're doing a lot of stuff.

I think this is an affirmation from the Chinese financial authorities to ban any crypto currency industry operations in China and of course this is a follow up from the Chinese government after several months ago banning crypto mining, especially bitcoin in their country, I saw the circulating FUD recently has caused the price of bitcoin to drop drastically around 4.0% from the previous price which was at the level of $44K, now the price of bitcoin has decreased by around $2K or $42K in the market.

[Renampun]

china is doing pointless things again, their fud never had great success...

a few hours ago the price of bitcoin fell freely but the price has gone up a few percent. the chinese government will definitely keep trying to make common people hate crypto, they are hard to give up even though they already know the results will only make them embarrassed "lol"

[Yaunfitda]

What is interesting about this very old FUD is that it didn't have that much effect on the price. The drop was negligible and more importantly it couldn't even break the $40k support which was the biggest goal the FUD spreaders have been pursing in the past week.
Although this is not showing market maturity but it shows that the weak hands are no longer holding any more bitcoins to panic sell. There are only market makers desperately trying to bring the price down by wasting a lot of money.

Perhaps old investors knows what China is doing, that's why the price wasn't affected that much. So I much say that we become so resistant already, we become used to seeing China FUD that it has no effect to the majority of bitcoin holders. Maybe it has affected those newbies and then panic, push the sell button. But for old timers, this is another perfect opportunity, and we are tired of news coming from China that it didn't bother us at all.

[Lanatsa]

Another wave of Bitcoin FUD is coming from China as the Chinese central bank claimed that local state agencies have improved tools to fight against crypto transactions more effectively.
~
Can this negatively affect the price of Bitcoin or has the market already reacted to it because it is old news?

Don't know if its true until its proven because China is always been having this kind of behavior when it comes to crypto neither they do make out some negative things or against with it most of the time or

they do really make out some positive decision but this had been always on negative thing.Is it true? We cant tell if they could really be having that tool but for sure that people wont really be trying out

to go against with the government because they do know on what are the complications or consequences when you do violate something.Does it affect the market? Somehow but not really be a full
reason on why we are going down.

[bittraffic]

Shortly after China enforced the crypto exchange ban, Bitcoin reached $20,000 for the first time in December 2017.

This is from the article. It comes to my mind that it may happen once again because of this new regulation crackdown. All crypto transactions are going to be deemed illegal in China. Does it mean that the Chinese investors may only just be holding their BTC and not trade anymore or they still could do trade just not the exchange base on China?

[Yamifoud]

People are already know how China is making FUD always just to divert the mindset of their people. It has no significant huge impact on the market as people never weigh this anymore but instead consider this as another fake news and unconsiderable condition and besides, even without China the market will still be able to survive and make rallies again.
It doesn't matter how many times they spread news like this as still people will just ignore and keep doing what they think is right and disregards all the news coming from this country.

[markdario112616]

History repeats itself but this time with a twist  Wonder how would this Chinese Government stop or so-called regulation of Cryptocurrency in their country. Manipulative bastards always wanted to be above everyone else, No wonder there is still a lot of underground miners who seems to be actively mining despite this threat. It's funny how they want to manipulate things, knowing the fact that almost 75% of the supply came from them.

[Twinkledoe]

People are already know how China is making FUD always just to divert the mindset of their people. It has no significant huge impact on the market as people never weigh this anymore but instead consider this as another fake news and unconsiderable condition and besides, even without China the market will still be able to survive and make rallies again.
It doesn't matter how many times they spread news like this as still people will just ignore and keep doing what they think is right and disregards all the news coming from this country.

This is true. Even if they totally ban crypto in their country, life outside their market goes on. People are used to this kind of news from China. I don't think they can ever fully control the activities of their people. There will always be underground activities. Anyway, miners can always find a new home outside their country. As if bitcoin market will stop because of them.

[DoublerHunter]

People are already know how China is making FUD always just to divert the mindset of their people. It has no significant huge impact on the market as people never weigh this anymore but instead consider this as another fake news and unconsiderable condition and besides, even without China the market will still be able to survive and make rallies again.
It doesn't matter how many times they spread news like this as still people will just ignore and keep doing what they think is right and disregards all the news coming from this country.

This is true. Even if they totally ban crypto in their country, life outside their market goes on. People are used to this kind of news from China. I don't think they can ever fully control the activities of their people. There will always be underground activities. Anyway, miners can always find a new home outside their country. As if bitcoin market will stop because of them.

^ But we can't deny the fact that it has an impact on the market and becomes the market price moving downside because of the latest news that was received from them. FUD was always there and it has been how many years I repeatedly experienced this but I believed at the end of the point BTC price will increase after the FUD will happen and loser those people who believe in FUD. However, even though there is an impact, the market heals itself and becomes fine later. So you think for now people believed in FUD especially those who have experience working at them.

[Oceat]

People are already know how China is making FUD always just to divert the mindset of their people. It has no significant huge impact on the market as people never weigh this anymore but instead consider this as another fake news and unconsiderable condition and besides, even without China the market will still be able to survive and make rallies again.
It doesn't matter how many times they spread news like this as still people will just ignore and keep doing what they think is right and disregards all the news coming from this country.

This is true. Even if they totally ban crypto in their country, life outside their market goes on. People are used to this kind of news from China. I don't think they can ever fully control the activities of their people. There will always be underground activities. Anyway, miners can always find a new home outside their country. As if bitcoin market will stop because of them.

^ But we can't deny the fact that it has an impact on the market and becomes the market price moving downside because of the latest news that was received from them. FUD was always there and it has been how many years I repeatedly experienced this but I believed at the end of the point BTC price will increase after the FUD will happen and loser those people who believe in FUD. However, even though there is an impact, the market heals itself and becomes fine later. So you think for now people believed in FUD especially those who have experience working at them.

I don't know what is happening but this can't affect the market but the FUD itself manage to push the price a little, I guess there are still weak-hands out there who can be easily fall for the china's trap. China has been banning Bitcoin in the past and yet nothing happens they should totally ban Bitcoin if that's what they want.

It helps a lot to the community but I have a doubt that would work since I almost think those whales manipulating the market probably living in China so they can take advantage of the situation.

[hatshepsut93]

The market already knows that China will not allow crypto-related things to operate officially in their country, so even if they will have tools to enforce their ban more deeply, it doesn't change things much. Bitcoin's price does not dependent on level of adoption by Chinese citizens, regardless if it's legal use or underground p2p use.

[goinmerry]

Can this negatively affect the price of Bitcoin or has the market already reacted to it because it is old news?

Bitcoin already received lots of FUD, even bigger than that before. The price will surely react to the price but expect that after a brief period of time, a bounce-back is surely to happen. For now, let's follow what will be the progress after that China's action and what will be the result of it afterwards.

We don't know if it will affect the market for long but at least we have the assurance that a price push will happen soon erasing the results of the FUD.

[pooya87]

What is interesting about this very old FUD is that it didn't have that much effect on the price. The drop was negligible and more importantly it couldn't even break the $40k support which was the biggest goal the FUD spreaders have been pursing in the past week.
Although this is not showing market maturity but it shows that the weak hands are no longer holding any more bitcoins to panic sell. There are only market makers desperately trying to bring the price down by wasting a lot of money.

Perhaps old investors knows what China is doing, that's why the price wasn't affected that much. So I much say that we become so resistant already, we become used to seeing China FUD that it has no effect to the majority of bitcoin holders. Maybe it has affected those newbies and then panic, push the sell button. But for old timers, this is another perfect opportunity, and we are tired of news coming from China that it didn't bother us at all.

Although I agree that many have become indifferent to this old FUD but I don't think that conclusion could be made about everyone (what I said about market maturity). You see this is not 20 days ago when the price hasn't dumped yet and is still above $50k, but instead it is in $40k range and is already over-dumped so even a strong FUD would have a very hard time pushing it any lower let alone a weak old FUD that people mostly ignore.

[Gozie51]

It will have an effect in the price, as much as we hate the Chinese news and fud, it has an impact still. Just look at the price in the last 24 hours, we've seen another pullback to $41k-$42. However, the dent in the price will not be be long term. Sooner or later, investors will realized that this is the nth time the China has issues a ban or everything related to crypto. So I expect a bounce after this, even a new all time high at the end of the year.

I don't expect what news coming from China to affect the price of bitcoin. China is not the only country in the world to determine how price will increase or not. They have been anti bitcoin a long time but that has not affected bitcoin. Bitcoin is decentralized and so it is everybody's asset, not regulated by anyone too. We can be having a little drops but bigger gains, the year may be good for bitcoin.