Will China takeover as the leader in blockchain and start the new bull market?

[Magic-Money]

The cryptocurrency market is moving across the globe, China to use crypto assets as a means of payment is a big welcome development, which in next Bull Run market, China will contribute in one way the other for cryptocurrency market News, that we make an impact in Bitcoin and other alt-coins price value.

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[bbc.reporter]

News update.

It appears that Jihan Wu's Maxiport is applying for a license in Hong Kong to operate as cryptocoin exchange. There is 21 in total applications including some familair names in the cryptospace similar to Huobi, crypto.com, Bybit and OKX.

It also appears that everyone has forgotten and has understimated China's effect on the cryptospace. I reckon that we will remember hehehee. Similar to the new mayor of bitcoin's market twap, China will also twap on the market through the exchanges in Hong Kong.



This list sets out the names of virtual asset trading platform operator applicants (VATP applicants) whose licence applications have yet to be approved by the SFC [Note 1]. All VATP applicants on this list are NOT licensed or regulated by the SFC, and may NOT be in compliance with the SFC’s requirements.

The purpose of this list is to enable any member of the public to ascertain whether a virtual asset trading platform has made untrue or misleading misrepresentations regarding its licence application status with the SFC.

Source https://www.sfc.hk/en/Welcome-to-the-Fintech-Contact-Point/Virtual-assets/Virtual-asset-trading-platforms-operators/Lists-of-virtual-asset-trading-platforms

[tsaroz]

China doesn't seem to be willing to take a lead on overall crypto market to lead the bull run. There had been some research going on in blockchain technology but they are not accepting crypto as a legal way to transact value. There had been several crackdowns and the Chinese government officials has no any shift in strategies. They do consider financial freedom a way of dissent from the state. The money and it's transaction are now closely controlled and watched over by the government. They are making it difficult to transact with cash let alone other ways. All the transaction are supposed to be done with online banking.

[bastian466]

If that really happens then the bull prediction will happen soon because this is a sign of fresh air that the bull will happen because there is a lot of good news regarding cryptocurrency if good things happen then it will push up prices on the market. So. Be prepared to face it, don't be late, don't make no investment at all

[poodle63]

China will takeover the cryptocurrency market and it will happen!.
Millions of marketcap dollars will come from China because China has allowed its citizens to trade and use cryptocurrencies,
of course with this we will see a bull run that we haven't seen before,
this is also predicted some experts that they say the next bullrun is a very great bullrun.

Has China legalized crypto transactions and trading? because as far as I know, until now China has still not declared to allow crypto transactions and trading there. So far, it is Hong Kong, not China. Maybe I'm late reading the news, but from some of the searches I did, there was no news that said that China was canceling the ban on cryptocurrencies there. CMIIW

It was supposed to happen on 1 June, but if I understand correctly, it only applies to Hong Kong. It does not apply to the rest of China. Although you are right, I haven't seen an official statement either. I think that if it happened, the capital would be directed to crypto. But so far only bad news from America.

will hongkong give that much impact though? i just forget they have that much capital to move bitcoin into even higher direction as we know, the current market cap might requires billions pumping into the crypto space.
what I remember though china was rumoured to be banning the use of any stablecoin and replacing it with their own CBDC which kinda make sense since they are developing it anyway.
I think if thats true and the fact that china allow the trading and investing of cryptocurrency in general its probably thanks to SEC approving ETF and therefore so many other countries out there
seeing cryptocurrency investment in the better light like basically there are few countries that follow this move and allowing themselves and their citizens to be investing in cryptocurrency.
I roughly predict that maybe in the next decades cryptocurrency gonna be widely accepted just like stocks.

[arjunmujay]

If that really happens then the bull prediction will happen soon because this is a sign of fresh air that the bull will happen because there is a lot of good news regarding cryptocurrency if good things happen then it will push up prices on the market. So. Be prepared to face it, don't be late, don't make no investment at all

so true. Actually, it's never too late to invest in the crypto world.
Moreover, with news like this, it will definitely be the reason for quite drastic price increases. However, you also need to remember what altcoin you will choose as an investment place

[Rasa nanas]

If that really happens then the bull prediction will happen soon because this is a sign of fresh air that the bull will happen because there is a lot of good news regarding cryptocurrency if good things happen then it will push up prices on the market. So. Be prepared to face it, don't be late, don't make no investment at all

This thread was created last year, maybe 9 months ago to be precise. I won't say that this news will not have an impact on bullishness because for me any positive news that happened in the past will definitely have an impact (although not a big one). Currently everyone is focused on the positive trend that has occurred recently because BTC is only $ 5k away from ATH 2021. This price increase confirms that bullishness is getting closer and this means there is less time to buy.

[bastian466]

If that really happens then the bull prediction will happen soon because this is a sign of fresh air that the bull will happen because there is a lot of good news regarding cryptocurrency if good things happen then it will push up prices on the market. So. Be prepared to face it, don't be late, don't make no investment at all

so true. Actually, it's never too late to invest in the crypto world.
Moreover, with news like this, it will definitely be the reason for quite drastic price increases. However, you also need to remember what altcoin you will choose as an investment place

Top 10 or 5 that can be said to be instant investment options, however, from my point of view, the price of Bitcoin is now approaching its all-time high, so to start investing now, for me personally, it is better to hold back for fear of another downturn, very fortunate for who started when prices were cheap during the bear season, when compared with current prices you can see the estimated profit

[Sophokles]

If that really happens then the bull prediction will happen soon because this is a sign of fresh air that the bull will happen because there is a lot of good news regarding cryptocurrency if good things happen then it will push up prices on the market. So. Be prepared to face it, don't be late, don't make no investment at all

This thread was created last year, maybe 9 months ago to be precise. I won't say that this news will not have an impact on bullishness because for me any positive news that happened in the past will definitely have an impact (although not a big one). Currently everyone is focused on the positive trend that has occurred recently because BTC is only $ 5k away from ATH 2021. This price increase confirms that bullishness is getting closer and this means there is less time to buy.

Coinbase crashes, which is another indicator of the bull season. Usually retail investors rush to purchase bitcoin, and that is why the app fails to handle such traffic and crashes. I guess there can be max few weeks before we make an all time high for bitcoin. This is a new milestone for bitcoin and the ATH can be very close because the inflow of bitcoin is way lower than the outflow of bitcoin. The supply and demand concept will work here, and the massive shortages of bitcoin will cause a massive rally.

[JayTrain]

My opinion on this matter is that China is indeed taking a more active stance in the crypto space, especially considering the state support for blockchain and NFTs. This could lead to a resurgence in the cryptocurrency market and create new opportunities for investors and developers. While America grapples with regulatory uncertainty, it may complicate matters for crypto projects based there. Ultimately, competition between different countries may stimulate innovation and development in the cryptocurrency sphere.

[xeqoRameshAxueamExaqana]

the price of bulish trend is not because of china. but because bitcoin wants to do its 4-year celebration, namely halving. but indeed the majority of crypto users in the world are china or china is the largest market in the world. so the ups and downs of prices are definitely influenced by china.

[arjunmujay]

Top 10 or 5 that can be said to be instant investment options, however, from my point of view, the price of Bitcoin is now approaching its all-time high, so to start investing now, for me personally, it is better to hold back for fear of another downturn, very fortunate for who started when prices were cheap during the bear season, when compared with current prices you can see the estimated profit

Even though the Bitcoin price has now touched ATH, I think if you look at a further range between the next 1-3 years, it is still a very good investment here.
This is the same as the thoughts of everyone who wants to invest in Bitcoin, including me.
I always think that the price is high and am afraid that the price will go down. However, what happens is the opposite, if you look at a longer time span, it turns around and the price of Bitcoin is higher than expected

[Promocodeudo]

I am surprised that China is the one that seems friendly to Crypto and blockchain industry rather than USA, but the thing is that with China they want full control, and I don't see how they will allow Crypto to go full speed without government intervention which is against everything crypto is all about. The Honk Kong move is a step in the right direction because the HK is the gate way to mainland China, and I won't be surprised if we see HK exchanges driving the volume in the coming bull market.

This is because china doesn't see it as threat, they embrace every opportunity that come their way after thorough scrutiny, China might not think of replacing their traditional banking system with cryptocurrency but they will continue to work with crypto because of what they have found out about the market, we should understand that the world is going fully to digital economy and this digital money has been the first digital money that eve existed so we never can tell what china is doing at this point, with the growth of China in the technology and also the are ready for more improvements, I think china is up to something which may unfold later, I so much like the continue support that cryptocurrency is getting from China this days, very no one knows what will happen.

[john1010]

Many similar questions are being asked about China after rumors of a blockchain is being backed by Beijing. There are some people who say that it is Conflux, however, there is a blockchain developed by Beijing academy of blockchain called Chain Maker, where government controlled businesses like Tencent and China Construction are also supporting the project.

NFTs are also being supported by the government in Shanghai through approvals of the creation of NFT trading platforms.

However, everything begins in Hong Kong, where their government has allowed all users to buy and sell crypto. If mainland China follows, it might bring the cryptospace back to the bull markets that are more similar to 2017. The pumps during those bull market years with China were bigger and higher.

Another argument on why China might become the leader in the cryptospace is because the American government has been imposing regulations without clarity that causes many developers confused and leave or stop working for projects based in America.

1. Conflux: A promising Chinese blockchain project.
2. Shanghai NFTs: The government supports NFT trading platforms.
3. Hong Kong: Allows crypto trading, potentially impacting the market.
4. Regulatory Clarity: China’s clear stance may attract developers.
In short, China’s crypto developments are worth watching!

[Abiky]

My opinion on this matter is that China is indeed taking a more active stance in the crypto space, especially considering the state support for blockchain and NFTs. This could lead to a resurgence in the cryptocurrency market and create new opportunities for investors and developers. While America grapples with regulatory uncertainty, it may complicate matters for crypto projects based there. Ultimately, competition between different countries may stimulate innovation and development in the cryptocurrency sphere.

Of course. China doesn't want to miss getting a huge "piece of the pie". It's well ahead of its time with the launch of a digital Yuan (eCNY). While other countries are still debating whenever they would do such a move (particularly the US), China has taken a step forward by embracing crypto/Blockchain tech at its fullest. Making Hong Kong the world's next crypto hub is a smart move. The regulatory uncertainty in the US will eventually result in a mass exodus of crypto/Blockchain companies into countries with a friendlier environment.

Not only China is attracting crypto investors through Hong Kong, but it's also mining BTC in secret. Other countries are also embracing the revolution with open arms (El Salvador, UAE). If this keeps up, the global economy will become fully digitized. Who knows if China eventually go as far as surpassing the US as the largest economy in the world? Just my thoughts

[JeffBrad12]

the price of bulish trend is not because of china. but because bitcoin wants to do its 4-year celebration, namely halving. but indeed the majority of crypto users in the world are china or china is the largest market in the world. so the ups and downs of prices are definitely influenced by china.

I will that in every bullrun there's most certainly many factors that could causes such thing to occur, but I also agree that this bullrun is not because of china, i find china hardly mentioned when bullrun was happening not that the price climbed up suddenly china is in the spotlight personally I think its because its just the time for the cycle of bullrun, ETF, and halving combined the cause of them is a massive pump like this.
remember the lasting effect of ETF approval is massive, its not some random approval but it can impact the whole world to see positive of the bitcoin and when that happens and the legitimacy of bitcoin is given the approval in various countries and this will definitely give an effect, the market cap of bitcoin probably gonna be rising even higher than the previous all time high and when that happens, surely the whole cryptocurrency market will be thriving.
therefore i don't really believe that china will takeover as the leader, their own rules is the one that holding them back at this point.

[Adreman23]

China is known as the sleeping giant, boasting a population of 1.4 billion. Thus, if the chinese government were to relax regulations on cryptocurrency in mainland china, the effect could lead to a larger bull run following the halving. The probable reason for china's crypto ban stems from the popularity of investing in ICO in 2017, which also attracted scammers, causing concern for the chinese government and leading to the ban. However, the approval of a bitcoin ETF by the SEC might restore china's confidence in crypto, so perhaps we should wait for updates on this matter.