China trying its best to get hated

[Sithara007]

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.

LOL.. these are just some wild conspiracy theories without any evidence. IMO, China banned cryptocurrency because it was posing as a threat for their heavily manipulated national currency. On top of that, they have a huge capital outflow problem. Cryptocurrency just made it easier for the mainland China residents to send their funds abroad. And finally, the power consumption from the mining farms was putting a huge strain on the national grid, especially in some of the provinces such as Xinjiang, Sichuan and Inner Mongolia

[yehestielsiburian]

I think the crypto market is driven by big investors or what we often call whales. and China is one such whale. I think they often spread fud to get the bitcoin price below. CMIIW

[Chato1977]

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 this method they become more popular by being hated by the world .. remember that China had already done so much against the world.

so why bother ahting them when we already knew they are being hated by the world.

[ChiBitCTy]

"Starting to get sick".. I've been sick of that pathetic communist nation for many many years.  That place is one of the most backwards places on the planet, and it amazes me that it's people have allowed for a communist rule for so many countless years.  The way they treat their own people, the open rampant animal abuse and now all this bitcoin bullshit. I HATE China. I wish their government the worst.  I know there are still many good people there, but there's plenty of more bad. 

[bixiiMaphi321]

China has previously banned cryptocurrency exchanges and initial coin offerings (ICOs), and has moved to crack down on crypto mining activities. Of course, many people don't like this, but I think people have no choice, they have to do it to survive. Why is China restricting people's access to cryptocurrency so much? Probably to limit their abilities and still control them... The market is manipulated by Chinese whales and the government. It means they don't ban the market. Who will ban if they can abuse the market and their ban hammer for profit? But the more China tries to ban bitcoin, the more bitcoin rises in price.

[RiskySanchez]

Every Chinese manipulation happens every 4 years when the crypto market trend is high and always bans Bitcoin. not only that old news is always repeated to dump bitcoin. I think China has its own goals in the crypto market by spreading the word globally to manipulate the market and have a negative impact on this market is something strange.

[Shenzou]

We have to take in mind that china has been always enclosed on itself has highly invested in communism and only cares about its internal affaires and its people and the reason why they have banned bitcoin and cryptocurrency is obvious and that is due to the facr that they saw that this was a popular thing  that has gained a lot of popularity inside that they have no control over not so ever and they did so to make place for the new digital currency that they are planning to release, in other way of the people want to use crypto they will have to use the ones that the government made just like the internet.

[Hamphser]

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?

Get used to it or deal with it because China had been this kind of country on where decisions could really changed in spot which means they might be bullish this day and after several hours they do issue some ban.

They have done these things in the past thats why it isnt surprising for now that they would make the same thing which the community specially the older ones arent surprised with these kind of events.

For noobs then they would totally freak out because of such decision but actually these external sentiments doesnt really affect out the market precisely.

[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?

Get used to it or deal with it because China had been this kind of country on where decisions could really changed in spot which means they might be bullish this day and after several hours they do issue some ban.

They have done these things in the past thats why it isnt surprising for now that they would make the same thing which the community specially the older ones arent surprised with these kind of events.

For noobs then they would totally freak out because of such decision but actually these external sentiments doesnt really affect out the market precisely.

They are trying for a very long time, and slowly they are really killing crypto in their country, but it should not worry us because there are still more countries that are accepting bitcoin than hating it, and it will not make bitcoin fail. Maybe we will see and experience the bear market, but it's just temporary, a normal effect of a bad news.

[AakZaki]

Expecting the bear market or not has already been determined and the manipulation has taken place. China does this, of course, has its own interests and the target they want will be achieved.

China's influence is indeed strong because of the several FUDs issued by China, all of them are very influential. Starting from expelling miners from China to banning bitcoin from China.

China is becoming an adoption barrier for other companies. But when China has completely ditched Bitcoin, they will have no more influence.

[Tybi]

I think the crypto market is driven by big investors or what we often call whales. and China is one such whale. I think they often spread fud to get the bitcoin price below. CMIIW

The Chinese government is an important investor in Bitcoin. The Chinese government has invested roughly 2% of the total bitcoin budget. So sometimes the Chinese government's ban on bitcoin is nothing but a ploy .

[shield132]

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?

They don't understand and you understand? hah Don't get wrong with me but there are huge reasons behind their decisions, they know what they are doing and why they are doing, they also pretty well know what will be the result of their actions.
Maybe it looks bad and illogical from our side but we don't know what's their long-term plan, so I wouldn't just easily say that they don't understand what they are doing.

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.

haha, this! It works again and again, that's sad fact.

[Viscore]

I personally don't think that banning cryptocurrency in China at the present time will have much impact on the market. Such news has come to China many times but later the cryptocurrency got legitimacy in China again.

There will always be a little effect on the market but its just for temporary. I think the market is slowly getting used to it so even if there are another batch of banning crypto in China in the next years, probably the market will not be affected anymore. Later on, China will decide to regain their good stand in crypto and will legalized it again. So China is just like a human behavior, when you think that you are over manipulative, you will eventually find ways on how to regain it back.

[Kittygalore]

What if we were on their shoes? Pretty sure that we will probably do the same thing plus it's not really that scary that their doing this kind of thing, China has been doing this BS for a long time and they're not successful as they intend to be, they're more of a catalyst for the increase in the prices.

[Spack17]

China's decision to ban cryptocurrencies hasn't affected the market very well. Now, we see Bitcoin price struggling to go to upper levels. It was already having a bad period actually and now the length of the period might even extend. Because so many people from China won't have any access to cryptocurrencies. But I hope that they don't sell their cryptocurrencies after the decision. Maybe it can change in the future and they will be like they HODLed their cryptos. And this would be good for the market too as so many people won't decide to sell.