China warns Bitcoin is heading to zero

[skarais]

I honestly don't know what the Chinese government thinks about bitcoin and what their basic purpose is to spread FUD like that at the same time as bitcoin's crash. I know the most reasonable response would be that they don't like bitcoin and really want to destroy it, but the truth is this community is much stronger than the FUD they spread.

Whether we realize it or not, bitcoin will be much stronger after China spread FUD. But there is always concern in the market as the market is still volatile even if bitcoin tests higher resistance. There's always a possibility for a crash, but I hope that post-crash recovery shouldn't be a fake recovery that just lasts for a while.

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[boris singer]

Regardless, when it comes to saying this, China might just as well be considered like the winds of the past.
They have accepted and rejected bitcoin several times and the funds they issued against bitcoin have also continued to happen in the last few years. But indeed I am not at all affected by this and instead have to thank them for their goodwill to remind me, although this I will not consider as something important.

Yuppp they deliver the national statement like it's just a game , you can changes sides anytime as you wish.
That is just terrible and i believe this one are yet another terrible theatrical lies , they are scooping more bitcoin in these buying season.

They are holding a lot of bitcoin while encourage everyone else to not hold any. Hilarious.

This is one of their ways to make a profit They have more power when compared to ordinary traders so it's obvious they will use their advantage to their advantage and this is actually the way of all in power with ostensibly warning but in essence is to stab in the back.
Of course with this there will be a few people who believe and panic and this is what they want although I'm just going to laugh at this.

[ChiBitCTy]

I mean we should believe them, China doesn’t lie about anything at all  . It’s funny how they are coming out against bitcoin saying it has no value hey they launched a program for digital yuan, which is their version of cryptocurrency however it’s nothing more than a centralized coin. To say I dislike china overall is an understatement.

[Kasabus]

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)

There's nothing new with it. China never fails to create the biggest FUD about bitcoin but then again, no matter how hard they'll try, they will never succeed in seeing bitcoin to end up with zero value. Because as long as the people continue to patronize bitcoin and never stop its demand, bitcoin value will always survive even in the deepest bearish market that is going to happen.

[romero121]

I mean we should believe them, China doesn’t lie about anything at all  . It’s funny how they are coming out against bitcoin saying it has no value hey they launched a program for digital yuan, which is their version of cryptocurrency however it’s nothing more than a centralized coin. To say I dislike china overall is an understatement.

The reason is to popularise their digital yuan. Why don't they understand understand digital yuan is nothing more than digitised fiat. Bitcoin is completely different. If Bitcoin is something connected to a product or had something to show it a currency now we could've got more duplicates in the market. Maybe that too can be a reason for the same.

[Quidat]

I mean we should believe them, China doesn’t lie about anything at all  . It’s funny how they are coming out against bitcoin saying it has no value hey they launched a program for digital yuan, which is their version of cryptocurrency however it’s nothing more than a centralized coin. To say I dislike china overall is an understatement.

The reason is to popularise their digital yuan. Why don't they understand understand digital yuan is nothing more than digitised fiat. Bitcoin is completely different. If Bitcoin is something connected to a product or had something to show it a currency now we could've got more duplicates in the market. Maybe that too can be a reason for the same.

Not totally surprising on which china do really loves on declaring out things or something which do really against with Bitcoin.If we do consider on how many times they are really
going against it then we do really have that kind of bad history against in between things and now they are saying about going back or down to zero? Its bullshit.
You are right that they are really that trying out with that shilling out their Digital yuan which the thing you do said is true that they are really just trying it out
to make some recognition but its true that this isnt something different with digital fiat thats why it cant really get that much support that they do expect.

[rby]

Everything that happens in bitcoin is seasonal. The season of bear and the season of bull. Also the season of FOMO and the season of FUD. Now the season when China will tell us that bitcoin will die. I think this is the season. After this time, during 2024 bull, they will all shut up, after the bull they will come tell us again that bitcoin will die. We understand everything.
Meanwhile China wants to fight bitcoin to death and raise their own finance to manipulate the world, but they won't succeed.

[swogerino]

I mean we should believe them, China doesn’t lie about anything at all  . It’s funny how they are coming out against bitcoin saying it has no value hey they launched a program for digital yuan, which is their version of cryptocurrency however it’s nothing more than a centralized coin. To say I dislike china overall is an understatement.

That is the main reason to make digital yuan their preferred currency and they are trying to implement it by force,last year they ban every cryptocurrency mining operation from all the farms that were the biggest amount in the whole world.They,the communist party there are a lot like Putin who want to force everything they think to the local population not caring much what this population wants for themselves.

Also I doubt you are the only one who dislike countries like China and others which are still led by communist parties.

[Haunebu]

The Chinese government are filled with hypocrites since some of them have actually been dabbling with popular cryptocurrencies like BTC, ETH, Doge etc for sometime now.

The market is usually impacted by their constant FUD to a small extent which is why their words don't really hold much power in the crypto world. They usually have different ulterior motives behind spreading this kind of pointless FUD in my opinion.

[blue_hurricanger]

I mean we should believe them, China doesn’t lie about anything at all  . It’s funny how they are coming out against bitcoin saying it has no value hey they launched a program for digital yuan, which is their version of cryptocurrency however it’s nothing more than a centralized coin. To say I dislike china overall is an understatement.

That is the main reason to make digital yuan their preferred currency and they are trying to implement it by force,last year they ban every cryptocurrency mining operation from all the farms that were the biggest amount in the whole world.They,the communist party there are a lot like Putin who want to force everything they think to the local population not caring much what this population wants for themselves.

Also I doubt you are the only one who dislike countries like China and others which are still led by communist parties.

They banned BTC mining, GPU mining is still fine, albeit switched to low profile. I'm saying the China govt loves to cause confusion in crypto market to whatever goal behind is mysterious to me. They did seem to hate crypto mining but not completely outlawed all of it. So in this case, they warn that Bitcoin is heading to zero doesn't mean they think it will become zero.

[Sanitough]

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)

Well, what do we expect from China? Of course, it will never stop from attacking bitcoin especially in this time of uncertainties as people particularly newbies will always believe even in FUDs. Whatever they say, bitcoin is not going to zero value, and its supply and demand has proven it. Although bitcoin never stays with its top price, but it won't settle too in a very low price. I guess those who never understand its volatility will always come out the losers in the end.

[Desmong]

China had been a thread to the crypto market from start and I think this needs to stop. Even though the Chinese communist party does not like Bitcoin, then that does not mean that they have to fight against it. Bitcoin is even stronger than the Chinese digital yuan so it looks like the Chinese are fighting indirectly against Bitcoin to make it less value then make their citizens invest more in the Chinese yuan.

[Vaculin]

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.

China ban crypto, many times. FUD or real you can verify with past events.

The Bitcoin network, its hashrate is decentralized from hashrate owners to mining farm locations geographically. It will be fine even all hashrates from China turn off. Recent years, total hashrate originates from China has less dominance on Bitcoin network than in the past. It is good for network decentralization, its health and it is good to prevent negative effects from China bans, floods and so on.

Again Bitcoin is named as a dead asset. How many times? More than 450 times so far. This figure will reach to 1000 soon.

• Bitcoin is not dead but it was called as dead 450+ times.

Bitcoin is dead for bitcoin antagonists, that is why China takes its part. And even if bitcoin boost its momentum again and skyrocket, China will always hope for the downfall of bitcoin. So its never surprising at all. Its either we believed and get convinced, or ignore the FUDs they have started. After all, bitcoin will always live and survive without China that supports it, as there are more bigger institutional countries that have come to back up bitcoin.

[sklopan]

China's policy as a whole is now extremely interesting. I think that in the near future the degree will only heat up more. But for now, all that remains is to wait.

[Silberman]

The Chinese government are filled with hypocrites since some of them have actually been dabbling with popular cryptocurrencies like BTC, ETH, Doge etc for sometime now.

The market is usually impacted by their constant FUD to a small extent which is why their words don't really hold much power in the crypto world. They usually have different ulterior motives behind spreading this kind of pointless FUD in my opinion.

Politicians have always been like that, they complain about tax havens and whenever a list is revealed which exposes the people that are using them to avoid paying their taxes the majority of the people doing that are politicians, so it is not surprising those at the top of the Chinese government are dealing with cryptocurrencies but at the same time they are trying to deny the freedom of their citizens to do so, so it should not be surprising they are saying stuff like this while most likely they are acquiring bitcoin in secret.

[Fortify]

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)

Talk about drama, Bitcoin has been volatile all along and that is what drew in a lot of speculators, in turn leading the price to spiral upward at a fast rate. The drop down is equally unexpected but calling it "violent" is a bit over the top. I don't think Bitcoin will ever hit zero, at the very least it will have a residual value out of novelty, but a lot of faith has been lost since the all time high and it's tough to see it getting back up there in the short to medium term. It might be a good thing as new models and better substitutes enter the market, I doubt Satoshi believed that Bitcoin would ever be endless, or that it could not be improved - it was a successful concept model. A lot of money has been flowing very cheap in the last few years and it streamed into crypto, that tap has been turned off quickly with interest rises predicted to go much higher in future.

[Vaskiy]

During the same time period of China warning Bitcoin heading towards zero, Bank of England have made positive statements on bitcoin to be the way to build wealth during the bear market. China is always a separate nation that needs everything within them. Recently they've come up with the digital yuan after the complete ban over the cryptocurrencies. Whenever we take discussion about the negative information spread, taking the positive news published during the same time will let us understand the real market.

[Finestream]

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)

That’s not the first time they assume bitcoin that it’s value will drop to zero. Every time the market stays in bad condition, they will always have a say whether bitcoin is dead or the crypto market is over. Unfortunately, only fools and newbies tend to believe their assumption as they will always have banned bitcoin and wish for it to end up in death, but until now bitcoin is still in mainstream. I guess China won’t stop here, the next time bitcoin will be in a worst scenario, China will have to curse it again but then bitcoin recovers again as always.

[BCwinning]

why does anyone listen to what China says? we need to let them go back to the 50's and wither away with their lies and market manipulation.
They only have an economy because the world sold out to cheap communist labor.

[Mr.sprin]

china one of the countries that ban bitcoin they officially announced that bitcoin is banned in their country and the miners all turn off the mining machines but with the news it doesn't affect the whales to invest bitcoin the more news about bitcoin like this the more big whales seem to invest bitcoin.