China warns Bitcoin is heading to zero

[FlamingFingers]

Whenever I see a news update like this is one of the best time to either open a long position or buy the dip or probably a bottom of dip had occurred, this is just a pure Fud, only newbies and people who don't know about cryptocurrency will fall for this cheap stunt, bitcoin is here to stay and it will be forever, huge dump might occur but it will never get to zero, no way!

[AakZaki]

China has always done the same. FUD continues to be spread to influence the price of bitcoin so they can buy it cheaply. The current moment is indeed very fitting to spread FUD, but should we be influenced? Of course we are used to news from China. China is indeed the enemy of bitcoin at this time.

[_BlackStar]

-snip-

So what do you think about the news? Do you think it will lower the price of bitcoin again in the near future?

China is too bad at the moment about how they should make FUD in the crypto market. They don't like decentralization so they have to fight it, but what are the benefits? Nothing, they will just do it and keep doing it and so on until the crypto community truly believes that China is the biggest liar in the crypto world.

Somehow I feel China is just going against the grain regarding the growth of crypto in the world. This was absolutely ridiculous, but it would make weak hands tremble.

[The Cryptovator]

Likely they want to accumulate at a cheap price. Bitcoin is already in a downtrend and they want to dump more. So that they could accumulate more lol. A lot of crypto users in China, so are trying to spread FUD making panic sell and dump more. If Bitcoin comes to the ZERO which isn't possible, the total crypto market will be destroyed. Nothing will exist here. I can't imagine this kind of situation where big institutional investors buy and store Bitcoin. What was the impact when China ban Bitcoin mining? Nothing. So nothing will happen for China FUDs.

[justdimin]

Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency.

The Chinese government has capitalized on the violent downturn in the crypto market by warning crypto investors that Bitcoin prices are “heading to zero.”

The South China Morning Post reported on June 22 that Chinese national news media agency Economic Daily had issued the warning about the largest cryptocurrency by market cap to further dissuade citizens from adopting the use of crypto.

The Economic Daily report says the west is to blame for creating a highly-leveraged market that is “full of manipulation and pseudo-technology concepts” which it said was an “important external factor” which contributes to Bitcoin’s volatility.

Of course nobody cares about what china says in the macro sense. Not saying that they do not have the chance to make it go to zero, but it is clear that we are talking about a nation (or government in this case) that hates bitcoin and crypto to begin with and tries to do everything in their power to make it go to zero if they can do it.

So, if they warn about it, that is nothing new, they would be warning obviously because it is something they wish to happen, just because they wish it, doesn't mean that it will happen. I personally believe that bitcoin will be going to 100k+ on the next big bull run, and China will try to do some things to prevent that for sure.

[TimeTeller]

-snip-

So what do you think about the news? Do you think it will lower the price of bitcoin again in the near future?

China is too bad at the moment about how they should make FUD in the crypto market. They don't like decentralization so they have to fight it, but what are the benefits? Nothing, they will just do it and keep doing it and so on until the crypto community truly believes that China is the biggest liar in the crypto world.

Somehow I feel China is just going against the grain regarding the growth of crypto in the world. This was absolutely ridiculous, but it would make weak hands tremble.

We have seen in the past years that China not being friendly towards crypto market.
Remember, when they banned their miners? But despite of that situation, btc continues to survive.
It may have a slight impact on that period but afterwards, it is like the same.
So in that scenario, we have seen that China not participating in this market is no big deal anymore.
I believe that even if they warn btc heading to zero, just ignore it because it won't happen.

[darkv0rt3x]

-snip-

So what do you think about the news? Do you think it will lower the price of bitcoin again in the near future?

China is too bad at the moment about how they should make FUD in the crypto market. They don't like decentralization so they have to fight it, but what are the benefits? Nothing, they will just do it and keep doing it and so on until the crypto community truly believes that China is the biggest liar in the crypto world.

Somehow I feel China is just going against the grain regarding the growth of crypto in the world. This was absolutely ridiculous, but it would make weak hands tremble.

We have seen in the past years that China not being friendly towards crypto market.
Remember, when they banned their miners? But despite of that situation, btc continues to survive.
It may have a slight impact on that period but afterwards, it is like the same.
So in that scenario, we have seen that China not participating in this market is no big deal anymore.
I believe that even if they warn btc heading to zero, just ignore it because it won't happen.

Not only that.
I leave a question "in the air".
Is actually mining operations 100% staalled/stopped in China? I mean, I bet there are quite some operations still going strong and who knows if the government themselves aren't backing up a few! This is inevitable. Bitcoin will come sooner or later! The current war is probably "stepping the pedal to the metal" in this regard!

[evichi]

Chinese government is making effort to dissuade its citizens from adopting cryptocurrency, especially Bitcoin. The downtrend of the crypto market offers them the opportunity to make false propaganda  of Bitcoin/other cryptos. Obviously the FUD is false, rather I will say that Bitcoin is simply preparing for another bull run. This is not the first time this is happening, according to history.  

[adzino]

Of course they are going to warn people that bitcoin is going to head to zero. They don't like bitcoin, so they will try their best to stop bitcoin and other crypto currencies to become a mainstream currency. After all, if they do become the mainstream currency, China will be in a serious disadvantage since they have fully banned the usage of crypto currencies in their country and focusing on their own digital currency. All they are trying to do is eliminate their threat.

[BobK71]

every year have gotten used to hearing this kind of fud. But strangely, the more fud, the more famous bitcoins become. So don't take it too seriously. just make it an annual entertainment. because many have said that about bitcoin.

Today China is one of the most powerful countries in the world. The country is trying to give the attention to America, especially from the economic point of view. They always think in advance. We know that cryptocurrency is now a potential platform where leading countries want to take control over it. In the Ukraine-Russia war we see crypto currency awareness.

According to us, China works with a very sharp intellect. It is difficult to say what they really want. It could be that they are trying to warn their citizens because of big scams. Maybe they want to bring BTC under control from the dip through negativity.
Personally, I understand that it doesn't matter how much one obstructs BTC, even if it has a temporary effect, it will turn it again.

[Lucius]

So what do you think about the news? Do you think it will lower the price of bitcoin again in the near future?

Why do you think the OP will answer your question? He does not participate in discussions, but benefits from promoting his project - and anyone who quote his post only gives him extra visibility. In addition, it is more than obvious that he works for CT by shilling their links in every post.

[suzanne5223]

Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency.

First, we shouldn't expect positive things from a country that's governed in a Communist way and for the record. The Chinese government never supported Bitcoin what they always do is benefit from it and the crypto they once supported was NEO whereas they raised funds for their construction company through IDO in BTC and taxed BTCminers.

We shouldn't expect them to support BTC now after what they did to Bitcoin miners in their country and the far as i could remember they always made this exact statement about Bitcoin when it bears season.

[ven7net]

Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency.

The Chinese government has capitalized on the violent downturn in the crypto market by warning crypto investors that Bitcoin prices are “heading to zero.”

The South China Morning Post reported on June 22 that Chinese national news media agency Economic Daily had issued the warning about the largest cryptocurrency by market cap to further dissuade citizens from adopting the use of crypto.

The Economic Daily report says the west is to blame for creating a highly-leveraged market that is “full of manipulation and pseudo-technology concepts” which it said was an “important external factor” which contributes to Bitcoin’s volatility.

“Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high,” said the newspaper.

As of the time of writing, BTC is trading at $20,386, 71% down from its high and 0.7% down over the past 24 hours according to CoinGecko.

(source: Cointelegraph)

Personally, I am dismayed by this news. On the one hand, I understand that no one has canceled the manipulation in the crypto market, and this kind of news can be FUD to force weak hands to dump Bitcoin now. But on the other hand, seeing what kind of events are happening now in the world, I begin to believe in such news. To be honest, the situation is really difficult, because every day you have to make a difficult choice, sell or buy or hold? However, I still hope that even if the price of BTC goes even lower, it will not be able to reach zero and after that it will definitely go up. But maybe I just want to, but time will tell how it will actually be.

[YOSHIE]

Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency.

They feel they are great in business and economy, a lot of news is propaganda by China for their benefit.

Everything they did to destroy Bitcoin, all to no avail, how do they know Bitcoin is going to level 0, do they control Bitcoin, no, it's all bullshit and lies, China is really at its wits end when it comes to Bitcoin.

I don't think China can do any propaganda against the Bitcoin market, don't they realize that Bitcoin is bought and used more by other countries, than China.

The following are the results of a Statista survey about cryptocurrency users or owners conducted in 2020. This survey was conducted by looking at 1,000 to 4,000 respondents per country.
• Nigeria 32%
• Vietnam 21%
• Filipina 20%
• Turki 16%
• Peru 16%
• Swiss 11%
• China 7%
• Amerika Serikat (AS) 6%
• Jerman 5%
• Jepang 4%.

That's 2020 data, maybe if you look again at 2022 data, China is ranked, 2%, do they still want to do engineering.

[breathlessz]

We often hear news like this at the time of the bearish season, with the hope that bitcoin will decline due to weak holders and fear that it will all happen. I was reminded in 2018 where the conditions were the same as this, but in reality it didn't happen and in fact bitcoin is increasingly known throughout the world, therefore we must have faith that is supported by logical thinking, if the dump happens again it will be used by some people

[D ltr]

this fud is very bad in history, makes fear stronger, and the value goes down because of this fud, I don't know what China's goal in this case is whether they will adopt bitcoin en masse so that they spread fud aggressively, it's just that, I don't know... just save your money and never invest with hot money

[ice18]

Talking nonsense about bitcoin and when most investors are in panic they are definitely buying the dip FUD are created to manipulate the price so that they can buy at low price then repeat.

[amishmanish]

Chinese news is nothing but official propaganda of Chinese government. They like everything to chiniaized. Now they want bitcoin to go and a Chinese copy to come. SO they first banned mining and now they are dissuading the investors and creating a negative image. like everything we will soon see Chinese government, promoting its own crypto currency

[DanWalker]

This is probably what the Chinese government has been waiting for for years, unfortunately for them it will never happen. A news coming from the country that always considers bitcoin as the top enemy is really not worth our attention. Their claims regarding bitcoin have become futile and they have almost no influence on bitcoin. Perhaps they were too delusional, overconfident in themselves.

[noormcs5]

Whenever I see a news update like this is one of the best time to either open a long position or buy the dip or probably a bottom of dip had occurred, this is just a pure Fud, only newbies and people who don't know about cryptocurrency will fall for this cheap stunt, bitcoin is here to stay and it will be forever, huge dump might occur but it will never get to zero, no way!

A general rule in crypto is to do the opposite of the market sentiments and the news which made up these sentiments. When there are fuds that bitcoin is going to zero, it's time to accumulate bitcoin as usually the market will pump from there. Similarly, when you see bitcoin positive news that bitcoin is going to the moon, its time to sell some part of your bitcoins as there are 90% chances that bitcoin will dump where there is too much positive news around.