If China soon welcomes crypto: strong bullrun?

[yhiaali3]

China may have recently begun to realize the importance of cryptocurrencies for the national economy, whether in terms of taxes or huge investments that could stimulate the Chinese market.

In the past, China made more than one mistake regarding cryptocurrencies when it banned cryptocurrencies and then banned mining, and the result was that the majority of them were directed towards other countries, especially the United States.

Today, the United States is committing almost the same mistakes through the strict regulatory laws it imposes on crypto companies, causing the departure of many of them. I expect that China wants to exploit the opportunity and correct its mistakes by attracting these companies to an open region such as Hong Kong, which has become part of the Chinese mainland.

Of course, if China continues to take this friendly approach towards cryptocurrencies, it will have a big role in the prosperity of the Chinese economy and the cryptocurrency market.

[LogitechMouse]

China is acting like the "Inverse Cramer" where investors are investing opposite to what Jim Cramer is recommending.
This time, investors are acting differently when it comes to China.

When China is doing the opposite to cryptocurrency, it often positively impacts the market. I mean remember China banning ICOs in 2017. At that time, the prices of cryptocurrencies went up significantly, and we saw the market entering a bull run.

Re: If China soon welcomes crypto: strong bullrun?

No, and they will never welcome crypto in their country.

The CCP doesn't want something that they don't have control over. I still remember the time when the term "Digital Yuan" became popular because the Chinese Government wanted to digitalize their currency to fight cryptocurrency hence, this concept was created. Well, I'm hoping that they will at least not ban their people to use cryptocurrencies in their country, but it isn't surprising that the CCP is imposing bans against it because they can't control it.

[Altcoin1998$]

China has announced several bans on cryptocurrencies long ago and managed to create quite a negative impact on the market. From 2013 to 2021, China announced a massive ban on all exchanges and transactions, including Bitcoin transactions, several times, although each time the price of Bitcoin began to fall sharply, but currently China's negative or positive actions may not have much impact on the Bitcoin market, or even last. no So for now, no matter how positive China looks on Bitcoin, these announcements will not have any impact on Bitcoin from my point of view.

[armanda90]

China has announced several bans on cryptocurrencies long ago and managed to create quite a negative impact on the market. From 2013 to 2021, China announced a massive ban on all exchanges and transactions, including Bitcoin transactions, several times, although each time the price of Bitcoin began to fall sharply, but currently China's negative or positive actions may not have much impact on the Bitcoin market, or even last. no So for now, no matter how positive China looks on Bitcoin, these announcements will not have any impact on Bitcoin from my point of view.

I can't fully believing yet with China has plan for making bitcoin as legal currency transaction, they have banned bitcoin several time and since China banned announced bitcoin dropped drastically although always success recovery more higher price than before after banned announcement.
I don't think necessary with China have to make bitcoin as legal currency transaction because without China bitcoin keep strong and success recovery until raise higher price, just make bad speculation with China has not consistency when making bitcoin legal some time they will announce bitcoin banned as legal transaction.

[Carbitcoin]

China has announced several bans on cryptocurrencies long ago and managed to create quite a negative impact on the market. From 2013 to 2021, China announced a massive ban on all exchanges and transactions, including Bitcoin transactions, several times, although each time the price of Bitcoin began to fall sharply, but currently China's negative or positive actions may not have much impact on the Bitcoin market, or even last. no So for now, no matter how positive China looks on Bitcoin, these announcements will not have any impact on Bitcoin from my point of view.

I can't fully believing yet with China has plan for making bitcoin as legal currency transaction, they have banned bitcoin several time and since China banned announced bitcoin dropped drastically although always success recovery more higher price than before after banned announcement.
I don't think necessary with China have to make bitcoin as legal currency transaction because without China bitcoin keep strong and success recovery until raise higher price, just make bad speculation with China has not consistency when making bitcoin legal some time they will announce bitcoin banned as legal transaction.

If China works with cryptocurrency, it will promote a national cryptocurrency and not Bitcoin. And there will be little transparency in this process. In any case, all totalitarian states suffer from similar weaknesses.

[Trongduy]

China has announced several bans on cryptocurrencies long ago and managed to create quite a negative impact on the market. From 2013 to 2021, China announced a massive ban on all exchanges and transactions, including Bitcoin transactions, several times, although each time the price of Bitcoin began to fall sharply, but currently China's negative or positive actions may not have much impact on the Bitcoin market, or even last. no So for now, no matter how positive China looks on Bitcoin, these announcements will not have any impact on Bitcoin from my point of view.

I think China is looking to take advantage of the time to create their own digital currency, preventing the invasion of crypto that could weaken the power to manipulate domestic finance. Now they are testing in Hong Kong. If crypto is good and can be managed, it will accept and collect taxes on the mainland. On the contrary, if it's not good, it's okay to let Hong Kong continue testing for a few more years and then leave.

If China opens its doors to crypto, money from the rich will pour into crypto, and the market with more money will have more power to grow.

[Cryptsafe]

China as we all know has a strong market force coupled with the fact that they have a population running into billions. Before the ban of Crypto currency in China, the Crypto market was really booming as the Chinese were fully adopting Bitcoin and other Crypto in full scale which really made the market growth increasing on a steady speed not until the Chinese government banned Bitcoin and crypto  which drastically affected the Crypto market causing panic and sell off.
There is this thing I have realised about the Chinese market, no matter how small a project is, if the Chinese influence enters, there is always a surge in demand for it and definitely  the product will have it's way into the global market and just a little percentage of the Chinese population alone could make it  be at the top of demand in the consumers priority list.
Nevertheless, I believe the Chinese government are currently conducting a research on Crypto currency via their neighbour  as a case study because there is every possibility that the outcome of the research could trigger them to lift their ban on crypto currency but however, let us watch and see as things unveils itself.

[gunhell16]

China as we all know has a strong market force coupled with the fact that they have a population running into billions. Before the ban of Crypto currency in China, the Crypto market was really booming as the Chinese were fully adopting Bitcoin and other Crypto in full scale which really made the market growth increasing on a steady speed not until the Chinese government banned Bitcoin and crypto  which drastically affected the Crypto market causing panic and sell off.
There is this thing I have realised about the Chinese market, no matter how small a project is, if the Chinese influence enters, there is always a surge in demand for it and definitely  the product will have it's way into the global market and just a little percentage of the Chinese population alone could make it  be at the top of demand in the consumers priority list.
Nevertheless, I believe the Chinese government are currently conducting a research on Crypto currency via their neighbour  as a case study because there is every possibility that the outcome of the research could trigger them to lift a their ban on crypto currency but however, let no is watch as things unveils itself.

That's what other countries that are negative about Bitcoin or cryptocurrency always do: when they see that there will be a good trend in Bitcoin, like the upcoming halving, the wind suddenly changes in reality. Of course, they know that they can make a profit from what they do.

Observe that after the bull season and entering the bear market again, a country like China will suddenly turn negative. How many times have they done that? They do the same in other countries, but there are others who are open to bitcoin or cryptocurrency.

[Cryptsafe]

China as we all know has a strong market force coupled with the fact that they have a population running into billions. Before the ban of Crypto currency in China, the Crypto market was really booming as the Chinese were fully adopting Bitcoin and other Crypto in full scale which really made the market growth increasing on a steady speed not until the Chinese government banned Bitcoin and crypto  which drastically affected the Crypto market causing panic and sell off.
There is this thing I have realised about the Chinese market, no matter how small a project is, if the Chinese influence enters, there is always a surge in demand for it and definitely  the product will have it's way into the global market and just a little percentage of the Chinese population alone could make it  be at the top of demand in the consumers priority list.
Nevertheless, I believe the Chinese government are currently conducting a research on Crypto currency via their neighbour  as a case study because there is every possibility that the outcome of the research could trigger them to lift a their ban on crypto currency but however, let no is watch as things unveils itself.

That's what other countries that are negative about Bitcoin or cryptocurrency always do: when they see that there will be a good trend in Bitcoin, like the upcoming halving, the wind suddenly changes in reality. Of course, they know that they can make a profit from what they do.

Observe that after the bull season and entering the bear market again, a country like China will suddenly turn negative. How many times have they done that? They do the same in other countries, but there are others who are open to bitcoin or cryptocurrency.

Actually, I believe this is amongst the strategy most government and whales use to manipulate the market and they acquire crypto through proxy after they must have succeeded in causing a decline in market demand leading to drop in price so that they could have their bags filled up while they plan for another market manipulation to pump the price again so they could sell to make huge profit. These are what the folks in the Crypto market do not understand. Until the rest of the blockchain community understands this trick used by both the government and whales, they would keep falling for them and losing their capitals and investment in a haste to escape a price decline orchestrated by some cartels in the industry.

[Baofeng]

China has announced several bans on cryptocurrencies long ago and managed to create quite a negative impact on the market. From 2013 to 2021, China announced a massive ban on all exchanges and transactions, including Bitcoin transactions, several times, although each time the price of Bitcoin began to fall sharply, but currently China's negative or positive actions may not have much impact on the Bitcoin market, or even last. no So for now, no matter how positive China looks on Bitcoin, these announcements will not have any impact on Bitcoin from my point of view.

I can't fully believing yet with China has plan for making bitcoin as legal currency transaction, they have banned bitcoin several time and since China banned announced bitcoin dropped drastically although always success recovery more higher price than before after banned announcement.
I don't think necessary with China have to make bitcoin as legal currency transaction because without China bitcoin keep strong and success recovery until raise higher price, just make bad speculation with China has not consistency when making bitcoin legal some time they will announce bitcoin banned as legal transaction.

First it was Russia, like in 2018-2021 wherein you will like every day hear positive news about crypto and bitcoin and that they will adopt it. But then the next day, someone from the government will contradict their initial statement. And that's why everyone says that we should take everything with a bag of salt any announcement coming from Russia.

Same with China, as I have said previously, the banning has something to do with crypto giving the Chinese more financial power and that they don't want that to happen as they will lose control. And then there is capital flight as well, they want to keep everything inside. Chinese people investing, trading, mining crypto will lead this.

With that, I don't see China soon welcome crypto again, for me it's a dead end already.

[Mr. Magkaisa]

       -   When bitcoin reached 69k$ ATH at the time of 2021, did China participate at this time? I just thought I should have said it. Because I also can't say that the country of China will boost everything in bitcoin the day it enters the bull run.

I can even say that China can only add to the impact of holding a huge amount of bitcoin, but not in a way that will be the main reason for the day of the bull run itself, whether it happens this year or next year.

[Fivestar4everMVP]

To be honest with you all, I personally have come to the point where I think I no longer care what China does with crypto currency, for the fact that crypto have continued to grow even after several of their bans shows how irrelevant their opinion or stand on crypto currency is and will always be.

With China adopting crypto or not, crypto currency will continue to grow, and whether they open their doors fully to crypto in 2025 or not, bitcoin will reach $100,000 and above in this coming bull run certainly, I am not guessing this, I know this based on facts on ground.

So, China can go ahead and do whatever they want with crypto, if they decide to adopt it, it's their gain, if they continue to ban it, it's their loss, which ever decision they choose, crypto will continue to exist and will continue to grow - this is the most important thing.

[legend45]

       -   When bitcoin reached 69k$ ATH at the time of 2021, did China participate at this time? I just thought I should have said it. Because I also can't say that the country of China will boost everything in bitcoin the day it enters the bull run.

I can even say that China can only add to the impact of holding a huge amount of bitcoin, but not in a way that will be the main reason for the day of the bull run itself, whether it happens this year or next year.

I agree with you, like China only has a small influence on the crypto market but it is not the cause of the bullrun, even now the Chinese government has not allowed bitcoin but the price of bitcoin has risen high, touching $52K before the halving. So, don't associate everything with China. if it's currently connected to a bitcoin ETF, I agree

[jeraldskie11]

Yeah that's right. I remember that when China announce to ban crypto there is a sudden dump of all cryptocurrencies including Bitcoin. If I'm not wrong the prices went down more than -30% which can really gives us anxiety. After that, I heard a news from the trading group I joined that there are people who ended their lives because of that massive dump. You know when you are trading futures you will encounter more loses than spot investors because of leveraging. Because of that we understand how big the influence of China to crypto. So I believe that when the China decide to unbanned crypto, there will be a positive impact to the price of cryptocurrencies.

[elbans89]

Yeah that's right. I remember that when China announce to ban crypto there is a sudden dump of all cryptocurrencies including Bitcoin. If I'm not wrong the prices went down more than -30% which can really gives us anxiety. After that, I heard a news from the trading group I joined that there are people who ended their lives because of that massive dump. You know when you are trading futures you will encounter more loses than spot investors because of leveraging. Because of that we understand how big the influence of China to crypto. So I believe that when the China decide to unbanned crypto, there will be a positive impact to the price of cryptocurrencies.

If China cancels the crypto ban it will definitely have an impact on crypto prices, because we know China is one of the biggest economics.  But until now China has not allowed crypto, even the Chinese coin NEO has not had any significant development.
 You share sad story, when China banned crypto at the past.  Hopefully China will have a good policy to allow crypto.