China Bitcoin Ban false alarm

[pooya87]

It is called FUD not false alarm and it didn't start in 2017, it actually started as the market started with the first exchange coming out. But particularly speaking the "China banned bitcoin" FUD started back in 2012/2013 and has been repeated at least a dozen times in the past 8-9 years!

If you look at the timing of this FUD it makes even more sense. They didn't spread the lies on the internet when price was rising, they waited for the drop to happen then started it to try to push it lower.
It is just market manipulation and will end like all the previous times when they realize they can't push the price any lower than this.

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[Assface16678]

I think what happens is that when that news reoccur again, a dip/crash will happen, its an opportunity for those who have funds to buy the dip. Its happening always, when a fake news resurfaces. Again, this time it happens and in a few weeks/months the price will rise again and those who panic sell will lose big time.

[bitcoco]

I don't think the Chinese government has such a big influence on the bitcoin market. Can only one message produce a big decline? I don't believe it.

[KaliLinux]

History has always repeated itself in Bitcoin on the 24th of September 2017 when the china central bank ban Bitcoin/cryptocurrency, a move that sees the price of Bitcoin crashing deep before it recovered after 3 months of struggle to hold its resistance. On the 24th of September 2021 news still, fly around about china banning crypto, which turned out to be rumors and false development that see the Bitcoin price dropping to $40,675 before it gradually rises back to 41k.

It still amazes me how much influence chain still wills when it comes to the Issue of Bitcoin. This just showed that whether it is even fake news or FUD, as long as China's name is mentioned in it is just enough to make the Bitcoin market tumble and it doesn't matter whether people believe it or not like here

I don't think the Chinese government has such a big influence on the bitcoin market. Can only one message produce a big decline? I don't believe it.

and the question also is, why are investors so quick to react to this kind of FUD?

[Louis Harper]

The Chinese government has always disliked encryption and has always been suppressing virtual currencies. We should not care about news in this regard. Everyone has their own attitude towards things. There are people in the field of cryptocurrency. Believing in some people but not believing, this is all normal. As long as we are firm in our ideas and don't be easily influenced, the time in the future will be the best answer.

[BIN-BIN]

The problem with this is that the ban is taken seriously by a lot of people and they don't know what's happening right now and they still think that it's a bad omen that China is making some move in the Chinese market.

China is up when other developed countries and continents are embracing, China is busy banning Bitcoin. They think they are protecting their economy but not knowing they are excluding the citizens from advanced technology development and advantage.

[Mackenzie87]

China always likes to publish policies to suppress cryptocurrency. Every time a policy is introduced, most of the currency prices will plummet, even if it is a rumor, which proves that China actually controls the cryptocurrency market. In fact, the purchase of cryptocurrency in mainland China The masses are very large, and we must respect the Chinese market!

[mksundip]

Fake or genuine news related to China is very detrimental to the market. I hope it doesn't suffer a severe dump like this year 2017 for the crypto market. I think this effect may be temporary and this effect may not last long. hopefully this alarm will end soon and the market will recover especially for bitcoin

[buwaytress]

Oh yawn. Chinese individuals I know for years have already been doing P2P since at least 2016/17. The China cycle of FUD/bad news, whatever, it's normal/regular and it's expected. It'd actually be alarming if the state didn't do something or say something about Bitcoin every year or so, and towards the end of the year.

US wants to sanction exchanges, China wants to ban crypto transactions. That's the beauty of Bitcoin. You can still use it if you want to. Censorship isn't going to prevent you if you want to use it.

[boyptc]

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It's because many of them are new to the market, they haven't seen the old news that China did the same thing before.

Many will still be scared of this news and they're likely to panic sell and that's what happened before that has burned a lot of weak hands.

That's not an excuse anymore, crypto is the talk of the town for a long time already, maybe about 5 or 6 years or so it's acceptable but it has been a decade, I don't think that people that's getting into crypto isn't fully aware of this kinds of issue as a lot of news outlets are picking up on every crypto stories.

We all have different timelines on when we discovered crypto.

If you think that it's not an excuse anymore, well, that's you that thinks everyone already knew crypto.

[Wawa2013]

Fake or genuine news related to China is very detrimental to the market. I hope it doesn't suffer a severe dump like this year 2017 for the crypto market. I think this effect may be temporary and this effect may not last long. hopefully this alarm will end soon and the market will recover especially for bitcoin

It must be admitted that all news related to China always affects the crypto market, maybe because there are many big investors from China.
Although the Bitcoin price was affected by negative news from China, I believe it won't take long for the Bitcoin price to recover. So if there is
a FUD coming from China, don't panic, stay patient with holding the Bitcoin we have, because only people who can be patient can make a profit.
Moreover, with many institutions investing in Bitcoin in the long term, Bitcoin price will not fall as it did in 2017-2018.

[Cafex]

Are you sure that it is a false alarm? Because as I see in so many places now, it seems like China has banned cryptocurrencies and the activities related to it for real. It is true that they made so many fake news before this one. Every time, I was being surprised but it turned out to be a lie. This time, it seems really like true. China has already been against these assets so I'm not surprised anymore.

[WontRegret]

It will ban again and again and again. But who cares? That shows how much china scares to the crypto field. That will increase the adoption of the Europe and American investors to the market.

[Jating]

Thankfully though, the price was not affected by the recents news or FUD coming from the Chinese. If this is 2017, we might see the price going below $40k and the dip are going to continue in the following days. So investors may have seen this news as nothing news, except maybe for newbies.

And so be it, if they want to continue to ban it then we can't stop their government. It's now up to the Chinese investors or whether to stay in the market or move somewhere else wherein crypto is openly accepted by their government.

[Mr.sprin]

I read a lot about China banning bitcoin whether it's true or just FUD but for sure the market is very influenced by news from China and bitcoin price drops drastically, does china intentionally make fake news and when bitcoin price goes down they buy bitcoin after that they make good news and bitcoin will go up then they release bitcoin is that the aim of china?

[davis196]

It's not a false alarm, they have been banning crypto since 2013, LOL.

So why are investors still affected by this news? I haven't check the price, but today it is $42,000-$43,000. We are still above or at least in the average for this month. So I guess the drop will be temporary. On the contrary, if history repeats itself, this kind of statement from China will fuel another bull run.

This type of news will definitely scare the smaller and inexperienced traders so I expect the Bitcoin price to drop below 40K USD for a while.The price had recovered many times from this FUD.It will recover again.
I can't wait for China to ban crypto once and for all,so we could stop with all this FUD,that has been continuing for years.Bitcoin/crypto will be fine without China.Sure,the cryptocurrency prices would be way bigger,if China(or at least the Chinese government) was more open towards crypto adoption.
I expect a bull run to happen in 2022.I was more optimistic about this year,but the FUD will discourage many investors into buying Bitcoin.

[Kaylana]

I expect a bull run to happen in 2022.I was more optimistic about this year,but the FUD will discourage many investors into buying Bitcoin.

Isn't it in the bull market now? You mean 2022 is a crazy bull market? I hope you are right. I look forward to the bull market in 2022.

[Shasha80]

I read a lot about China banning bitcoin whether it's true or just FUD but for sure the market is very influenced by news from China and bitcoin price drops drastically, does china intentionally make fake news and when bitcoin price goes down they buy bitcoin after that they make good news and bitcoin will go up then they release bitcoin is that the aim of china?

I am not surprised if there is FUD coming from the Chinese government, because the Chinese government has often spread the news that it will
ban Bitcoin. And it often affects the market, although usually it doesn't last long and the price of Bitcoin goes up again. I don't know if
the Chinese government is doing it on purpose to manipulate the price of Bitcoin or not. What is certain is my advice we don't need to panic
and be affected by the FUD that happened, as long as we can be patient with holding the Bitcoin we have. In the end we can get through this
bad market and can make profit from Bitcoin.

[jakdanyel]

https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24/

According to Reuters, this time is not a false alarm as it seems. China really has banned cryptocurrencies completely. There have been so many claims that they did this before so far but they all turned out to be wrong. But now, we see that it has really happened. But this should not be very surprising for investors because they should already be aware of China's being completely against this market.

[tuertezii]

This time the Chinese news only dropped Bitcoin by $2,000. Is it still going to fall? Did it fall by 2,000 dollars? The Chinese government will not give up.