Can China Ban on Bitcoin have any negative effect on Bitcoin in future?

[Greatest2020]

Considering the fact that China keeps fighting to make sure they totally ban anything that has to do with Crypto (Bitcoin), we now notice that these days, their announcements now has less negative effect on Bitcoin, I.e Bitcoin don't fall careless again because of news from China like before.

But yet, investors and Bitcoin enthusiasts like me are beginning to worry if on the long run, China's ban can have a lasting drastic effect on Bitcoin or not.?

[tranthidung]

China bans Bitcoin many times in history and let's do retrospectively check on what happened so far

• Crypto has recovered from China's FUD over a dozen times in the last 12 years
• BTC Price change 60d pre and post prior China "ban" events
• The impact of China banning Bitcoin over time.

If you look at those chart, data and the article, you would realize that China ban events don't have long lasting effects.

• Bitcoin bull run, it's time to debunk Bitcoin FUD.
• When you have time, read so many resources on Endthefud.org

[Greatest2020]

China bans Bitcoin many times in history and let's do retrospectively check on what happened so far

• Crypto has recovered from China's FUD over a dozen times in the last 12 years
• BTC Price change 60d pre and post prior China "ban" events
• The impact of China banning Bitcoin over time.

https://pbs.twimg.com/media/FADkdG9VQAA3mSs?format=png&name=small

https://pbs.twimg.com/media/FADHv_jUUAop6UH?format=png&name=small

If you look at those chart, data and the article, you would realize that China ban events don't have long lasting effects.

• Bitcoin bull run, it's time to debunk Bitcoin FUD.
• When you have time, read so many resources on Endthefud.org

Thanks so much for the links to get more info!

I can't agree with you less sir....but I see them going ahead to try to influence other big countries to follow their foot steps.

[mardaed]

I think there are some effect because most miners are located in China and of course the number of people in China and bitcoin users are really high and if China eliminate Bitcoin there could be some effect in terms of price but I don't think it won't last long and everything will be back in no time. The above links was really useful actually.

[jakdanyel]

I'm not sure about this. Because we didn't even see a major affect right after the ban. The market has even started going upwards very fast. But as the market will lose important amount of investors in China, it might affect the market in the long term. We will wait and see it. But I think that nothing very big will happen just because only China banned it.

[nelson4lov]

Considering the fact that China keeps fighting to make sure they totally ban anything that has to do with Crypto (Bitcoin), we now notice that these days, their announcements now has less negative effect on Bitcoin, I.e Bitcoin don't fall careless again because of news from China like before.

But yet, investors and Bitcoin enthusiasts like me are beginning to worry if on the long run, China's ban can have a lasting drastic effect on Bitcoin or not.?

The only ill-effect I've seen from the series of china-ban-bitcoin/crypto news is only in the short term. It usually doesn't take time before the market recovers.  Also judging from the timelines, there hasn't been a long term effect recorded yet. China might be one of the most influential countries but crypto has since moved past one country's influence. It's a global movement!

[cygan]

china can ban Bitcoin 10x for all i care. that just makes our digital gold even stronger and all the mining just shifts to other regions.
and what china still has not understood, BTC cannot be banned or stopped - it is unstoppable

just my 2 satoshis

[coupable]

Considering the fact that China keeps fighting to make sure they totally ban anything that has to do with Crypto (Bitcoin), we now notice that these days, their announcements now has less negative effect on Bitcoin, I.e Bitcoin don't fall careless again because of news from China like before.

But yet, investors and Bitcoin enthusiasts like me are beginning to worry if on the long run, China's ban can have a lasting drastic effect on Bitcoin or not.?

Considering that a Ban in China would infect about 20% of the population on earth, this should have some convinients over the time. However, from another side, Chinese investors and crypto users in general still have alternatives and can find a way to overpass the ban, like it happened in countries where cryptoccurrencies are not regulated yet.
Note that if two things happened similtunasually, this doesn't mean one may have effects over the other. I saw many topics recently discussing the impact of China situation over cryptocurrencies after the price dropped a little bit after the Ban. I want to remind you that it was the same scenario in 2013 and 2017 (ATH bitcoin) .

[worle1bm]

This china topic is now becoming obsolete as this has happened many times and now it has no bearish effect on the prices like in past the prices tumbled a little bit but now see they are already above $55k and after mining ban hashrate has also recovered with miners spreading across the globe.So we can say it has temporary effect but in future it won't matter any more and others adoption will be adequate enough.

[pooya87]

But yet, investors and Bitcoin enthusiasts like me are beginning to worry if on the long run, China's ban can have a lasting drastic effect on Bitcoin or not.?

The answer depends on why you are asking this.
If you are concerned about the price, then sure such bans have negative effects on the price as they not only slow down bitcoin adoption but also they cause panic sells in the bitcoin market that leads to drops.

But they have no effects on future of bitcoin as a decentralized, censorship resistant currency. In fact bitcoin was invented so that it doesn't care whether some government "banned" it or not! In the end nobody can prevent you from using bitcoin.

[Robertshon]

Considering the fact that China keeps fighting to make sure they totally ban anything that has to do with Crypto (Bitcoin), we now notice that these days, their announcements now has less negative effect on Bitcoin, I.e Bitcoin don't fall careless again because of news from China like before.

But yet, investors and Bitcoin enthusiasts like me are beginning to worry if on the long run, China's ban can have a lasting drastic effect on Bitcoin or not.?

It will affect for a certain time. Not for a long time. You search on google you can find Many developed countries banned bitcoin. Prices fell for some time. But now it's up again. Ban will good also for a certain time :p.BTC holders sold it for less price. And you can buy it at a lower price

[Pmalek]

I think there are some effect because most miners are located in China...

Not anymore. China closed down many mining facilities months before their most recent "bitcoin ban". That resulted in a huge 50% drop in hashrate, but those miners have reallocated to other countries and most of it is back up and running again.
After the announcement about the ban, Bitcoin's market value fell by 10%. But it has already recovered from that. No one can predict what the future holds and how the prices would be affected if stricter regulations are implemented worldwide. If the US were to ban Bitcoin, that would probably be a much bigger blow than what we saw with the Chinese bans.   

[DapanasFruit]

Considering the fact that China keeps fighting to make sure they totally ban anything that has to do with Crypto (Bitcoin), we now notice that these days, their announcements now has less negative effect on Bitcoin, I.e Bitcoin don't fall careless again because of news from China like before. But yet, investors and Bitcoin enthusiasts like me are beginning to worry if on the long run, China's ban can have a lasting drastic effect on Bitcoin or not.?

I am expecting that in case by 2022 China or its governmental agencies will once again announce the ban of Bitcoin and all crypto-related business within China, it would have no negative impact on the cryptocurrency market outside of the country. I am so tired of hearing this thing and it goes beyond my grasp why the cryptocurrency market can be affected by a news like this. We should be discounting totally at the end of 2021 so that by 2022 there will no more be the China Factor. Let miners totally get out of China and transfer somewhere else where they are more than welcome and let big exchanges get away from China so the government will not anymore be collecting taxes from them.

[cheezcarls]

How many times Bitcoin has “died” but rises up even stronger? These China Bitcoin FUD stuff are just short term setbacks and eventually BTC recovered. I remember that BTC was hanging around $42k during the latest China FUD by making cryptocurrency transactions illegal, and here we are at $54k as of this time of posting.

Bitcoin is here to stay in the long run. The best crypto for long-term results.

[davis196]

The only long term negative effect of the China ban is the fact that millions of Chinese people will face difficulties using Bitcoin/altcoins in China.This kinda stops the growth of the cryptocurrency industry,but I'm sure that many Chinese will keep using cryptocurrencies despite the government ban over crypto.
I can't think of any other negative effects.
The crypto industry,that is located outside China shouldn't worry too much about this so called "crypto ban".
Bitcoin gets stronger every time China FUD occurs,so I don't mind if more China FUD is coming in the next weeks.

 

[slaman29]

OP you may be worried but I don't think investors and enthusiasts are.

China has a big news on Bitcoin every cycle. I was there on the last cycle, and I'm here on this one, and every time China FUD happens, has it ever affected you? I know for sure it never affects me, and I'm even close to China than I guess most of the people on this forum!

Use Bitcoin. No one can stop you.

[Darker45]

It is not as if the effect of the ban is gradual. I think the damage is felt immediately by the market. It has a one-time impact rather than a long-term and sustained one. But once it ends, Bitcoin would start to recover. That is what exactly happened. Now, once China is gone, the Chinese market becomes a potential market. Meaning to say, Bitcoin has gotten back to its feet and now has a huge potential market. If the day would come that China would give a green light to Bitcoin, it certainly would cause a spike to the market.

[Assface16678]

Not anymore, people will just neglect it due to its past behaviors like this. Price manipulation with a sudden dump. The only effects of it is the users of it in china. It will be hard for them to use it anymore and may result to just abandon it.

[sheenshane]

Slightly have an effect IMO.

I have been witnessed different FUD from China and banning isn't new to me.  They always do this, banning and then lifted, banned again and later on it will be lifted again and the process will always repeat as long as they can.   I have read somewhere that I can't remember that in the statistic shows China was a country that has a huge amount of Bitcoin that been hold.  It seems the whales are in that country and if they want it to dump, they will spread FUD and it begins to the social media which is a FUD that can easily spread.

In fact, China was nothing to do and only a small percentage that might have an effect on the price and this was proven and tested.  Just ignore what China did.

[Jawhead999]

Bitcoin has a bright future, why you worried with China? China isn't controlling Bitcoin, so there's no reason if you're a holder.

More and more many country start to unban Bitcoin and legal, even more El Saldavor's accepting Bitcoin as a legal tender before. Does those countries follow China crackdown? No they do otherwise what China's do!