China trying its best to get hated

[fileo]

They are trying to control the movement as much as they can in order to accumulate more cryptos which I think very possible reason. Some people knew that this event of banning crypto is a sweet game for them but devastating for others specially those who bought Bitcoin during $40k or $47k. Very possible that in few months everything will be fine again.

[Ekyfitri]

They are trying to control the movement as much as they can in order to accumulate more cryptos which I think very possible reason. Some people knew that this event of banning crypto is a sweet game for them but devastating for others specially those who bought Bitcoin during $40k or $47k. Very possible that in few months everything will be fine again.

I don't think it's a control. China issues regulations to ban crypto. after mining now there is very unfavorable regulation for the crypto market.
it's not in China's interest. or people in China who do mining and crypto transactions.
This news is different from other bad news. this is very bad for the crypto industry players in China.

[Mr.sprin]

china is a country that has advanced technology they only get profit to try anything for profit even they often make news to lower the price of the crypto market then when the price goes down they buy bitcoins in large quantities and they sell at high prices that's what they do to find profit.

[cabron]

CHINA!
The is a country with futuristic leaders.
This is a country fighting for international governance.
This is also a country that cares for her citizens.
It was this country that gave bitcoin an open hand and after a few years they are making a U-turn.
What actually did they see?
Is it a case of "a saviour turned judge"?

I strongly believe that one or two of the following is the cause.
1. Either China has seen far the future of bitcoin and wants to avoid a bad fate.
2. It can be that China is investing in Bitcoin and manipulating the price.
3. Maybe they want to have a strong digital currency whose only threat will be bitcoin, hence the battles against Bitcion.

Or it could be that they have chosen the wrong investment again just like what they did in the past where they buy silvers all they could but turned out it was gold that becomes the more valuable. Actually, if they are the ones dictating where the economy will go, it's silver that will be more valuable than gold but it's not them that will decide.

So yes if they become successful to dominate on the economic side, things will work out for them. They will still have to win it and I think they are if you compare it today with the US and EU. After this, they may allow crypto again.

Winning though is gonna be harder when they are hated and the preparation for war is getting heated.

[markdario112616]

The increased number of unregistered miners in China causes this stir, though since a lot of its citizens engaged in Crypto the value of their own so-called virtual coin is not being patronized as the value of Bitcoin continues to dominate.

There are things that the Chinese government want not only for their country but also for their personal interests. It happened before, most likely it will happen again in the coming years. I'd see this as manipulation of the market, knowing that they are one the biggest Bitcoin miners and suppliers in the world. So yeah, despite the outrage of its own citizens they'd must do this just to stay on top and take control of things.

[dansus021]

This has been like what? The 74278323th time China has dropped a hammer on bitcoin/crypto already? And funnily enough, the FUD is still working lol.

you counting it    the FUD is always working.
is similiar like what papa elon musk do

when people says Bitcoin is bad one or two people will reacting and then sell and other trader sell to because want valuate of their coin crash
when CHina says bitcoin is good for future invesment will we see same people do buy bitcoin and other will do the same

but i hope this will be final fud if china ban bitcoin let it be and so bitcoin return to normal

[Mpamaegbu]

I honestly think that people are starting to get really sick of China's behavior.

I am already fed up with that country! I now have a different perspective whenever I hear or read anything emanating from China, whether based on cryptos or not.

What's really amazing is that they don't understand that they are cutting themselves out from a super-growing market, letting all major investor taking all their money to other countries (like the mining exodus happened recently).

I sincerely wish this actually gets conspicuously pronounced so China will realize the damage she has done to her economy.

Should we really expect a bear market?

I don't think that will be the case. If that news didn't crash the market till date, I don't think there's any other cause for concern. Whatever dip we experience going forward won't be because of that China news, in my opinion. It should be attributed to market correction which is normal.

[slaman29]

The increased number of unregistered miners in China causes this stir, though since a lot of its citizens engaged in Crypto the value of their own so-called virtual coin is not being patronized as the value of Bitcoin continues to dominate.

I don't think so actually. Most of the miners were registered businesses and if you look back over the past few years, many of them had legitimate companies that actually went so far as to make local deals with the hydro electric authorities for cheaper power.

In fact most of the big miners with large portions of hashpower are all known and are all long time registered, legit businesses.

[masterrex]

I honestly think that people are starting to get really sick of China's behavior.


What's really amazing is that they don't understand that they are cutting themselves out from a super-growing market, letting all major investor taking all their money to other countries (like the mining exodus happened recently).


Should we really expect a bear market?

IMO, From now on it's better to ignore all of that china FUD and move on to other things so that we can avoid stress, I believe the Chinese politicians are using cryptocurrency particularly Bitcoin for a propaganda gimmick. Anyway, the price of Bitcoin and other cryptocurrencies are started to climb again. that's why I believe the bearish sentiments are still weak to affect the entire market.  

[geegaw]

china is a country that has advanced technology they only get profit to try anything for profit even they often make news to lower the price of the crypto market then when the price goes down they buy bitcoins in large quantities and they sell at high prices that's what they do to find profit.

The behavior and tricks that you say belong to the class of merchants in China but right now, the hate of China right now does not come from this class, even these traders and investors are stunned with the above decision and news, and the class giving this news is the government, this conflict is the sudden reform of the domestic investment systemt but it's definitely detrimental to the participants in China. The Chinese government probably wants to drag all the big investors around the world into their crypt, the participants in china are just suicide fighters and they need to make sacrifices

[Cafex]

They are really doing this indeed. China decided to ban cryptocurrencies suddenly while there was no reason. They claim that their reason was to keep their people protected from losing their money in any cryptocurrency. But this should be left for people's decision. Cryptocurrency market doesn't exist for swindling people. It is an opportunity for people to do whatever they would like (trading, using it as a payment method etc.).

[Questat]

I honestly think that people are starting to get really sick of China's behavior.


What's really amazing is that they don't understand that they are cutting themselves out from a super-growing market, letting all major investor taking all their money to other countries (like the mining exodus happened recently).


Should we really expect a bear market?

Well, they've done this several times, so have nothing to expect from them anymore. But what we have seen in the market nowadays, I'm still in the confidence that this will never cause bearish, the market remains healthy and bullish.
Maybe we have to ignore news coming from China as it never gives good to us nor we can benefit from them. We have to know that even without China the market can still move forward. We even survive before and that is not impossible this time as the number of countries supporting crypto is growing. 

[osasshem]

China is stopping the use or adoption of crypto currencies is a thing that I have not seen the beauty in yet, or maybe they have something they are seeing that most other people and countries are not seeing   (I wonder what that could be). China as a developed country amongst many is a country that the rate of technological development is so rapid and in any form of technology they move first, as a populated country too. The deep in the market at which China has on the price of Bitcoin is high and this is because of the high population of users and miners from China.
I will say it's a step back in the technology trend from China if they truly ban the use of Bitcoin/crypto currency.

[deathcode]

China is stopping the use or adoption of crypto currencies is a thing that I have not seen the beauty in yet, or maybe they have something they are seeing that most other people and countries are not seeing   (I wonder what that could be). China as a developed country amongst many is a country that the rate of technological development is so rapid and in any form of technology they move first, as a populated country too. The deep in the market at which China has on the price of Bitcoin is high and this is because of the high population of users and miners from China.
I will say it's a step back in the technology trend from China if they truly ban the use of Bitcoin/crypto currency.

I'm sure it won't last forever. This regulation will change for China. their government cannot control the development of crypto users. and one of them is in this way.
I am sure that a developed country as advanced as China will reopen this extraordinary technological development. after many countries will use bitcoin and crypto, I'm sure China will start to realize.

[Fortify]

I honestly think that people are starting to get really sick of China's behavior.

What's really amazing is that they don't understand that they are cutting themselves out from a super-growing market, letting all major investor taking all their money to other countries (like the mining exodus happened recently).

Should we really expect a bear market?

In all honesty your opinion, my opinion or the general perception of the world on China is totally irrelevant to the leadership their. Their decisions are made with the aim of making China the biggest economic power in the world, albeit they will definitely try to "stage manage" the appearance during that rise. When it comes to Bitcoin, it is barely a blip on their radar and is totally irrelevant to the long term aims of the country to the elites sitting at the very top of government. It is easy to forget, since they utilized capitalism in order to rise, that they are still a heavily authoritarian - almost dictatorial now Xi Jinping is in charge - form of government. Everyone in the upper circles who make and break laws is already sitting in a wealth bubble, they don't want people in the system below them running away with money outside the banking system.

[Hamphser]

China is stopping the use or adoption of crypto currencies is a thing that I have not seen the beauty in yet, or maybe they have something they are seeing that most other people and countries are not seeing   (I wonder what that could be). China as a developed country amongst many is a country that the rate of technological development is so rapid and in any form of technology they move first, as a populated country too. The deep in the market at which China has on the price of Bitcoin is high and this is because of the high population of users and miners from China.
I will say it's a step back in the technology trend from China if they truly ban the use of Bitcoin/crypto currency.

I'm sure it won't last forever. This regulation will change for China. their government cannot control the development of crypto users. and one of them is in this way.
I am sure that a developed country as advanced as China will reopen this extraordinary technological development. after many countries will use bitcoin and crypto, I'm sure China will start to realize.

For sure they had already realize and that what makes them this kind of decision because everything which do opposes their interest and centralization would really be banned nor prohibited.

This isnt surprising for a country like China..Instead they would really be making their own digital currency no matter what the cost.They do love to be on top of everything

and now they had imposed some banning and prohibition.Does it really matter or a big deal?No its not because this market could move without them.

[watergold]

They are really doing this indeed. China decided to ban cryptocurrencies suddenly while there was no reason. They claim that their reason was to keep their people protected from losing their money in any cryptocurrency. But this should be left for people's decision. Cryptocurrency market doesn't exist for swindling people. It is an opportunity for people to do whatever they would like (trading, using it as a payment method etc.).

there is no need to worry because things like this have often happened to China and a policy like this will not last long considering that from previous cases China has also done the same thing like this.
As for the reason, there is a little consideration in that direction, but if you look closely, they do this because it is CDBC that they manage and will launch.
but don't worry, China fud will not have a bearish impact and will only make corrections.

[tabas]

They might be hated from outside the country but be loved by their own people.

Surely they are because if they go against their country and they're living there, they'll find what they're looking for.

China is doing their best for the interest of their own country though they have different approach that we dont really like.

It is true, whatever it takes as long as it's for the sake of their country then they'll do it.

[Issa56]

Seriously even me am beginning to dislike China just because of their behavior towards bitcoin I don't just know the problem China is having with bitcoin, they just want there digital currency to be the best in the world that's why they are trying to bring down bitcoin because currently bitcoin is the one leading and I believe very soon people won't really listen to them again and their ban won't really have any effect.

[blckhawk]

china do not care if they are hated, because of what they did they will be the ones that will benefit the most, because of the banning of crypto in their country the price of crypto now will become lower and because of this the government will have the opportunity to whale bitcoin or other cryptocurrency. i think they did this too some time ago.