China want to ban or want to accumulate crypto?

[MrSpasybo]

China's central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin.

The price of Bitcoin fell by more than $2,000 (£1,460) in the wake of the Chinese announcement.

It is the latest in China's national crackdown on what it sees as a volatile, speculative investment at best - and a way to launder money at worst.

Source: China declares all crypto-currency transactions illegal

The information is not new, because China has continuously issued bans on the crypto market: ban on use, ban on mining, ban on trading… This has been going on for many years and after each ban, Bitcoin & crypto market growing stronger. I am even glad that China's influence on the crypto market is not as great as before.

However, there are some who think that this action of China is to dump the price and buy more crypto from market. We believe that China has huge ambitions and of course it want to manipulate the crypto market.

What do you think about China's bans? Will they be enough to make the crypto market go into winter right now? Is this just a way for China to buy the dip?

[TomPluz]

The idea that China is banning all related cryptocurrency matters including mining so that they can buy Bitcoin at its lower price is just another speculation. In the first place, China has a good history of banning companies they don't like including Facebook, Google, YouTube and many others and they created their own alternatives for these now big businesses. the reason is because the Chinese government don't want anything they can never control and that of course include Bitcoin...and because of this they now have their own digital yuan and it will be the replacement of Bitcoin. But we should not worry that much because just as Facebook and Google got so successful and so huge WITHOUT China, so is Bitcoin and cryptocurrency. We don't need China at all.

[Master107]

Business, crypto, wealthy personalities like Jack Ma, sports, weapons, facilities, let me compile China in this sentence "only one boss." No other boss apart from Xi Jinping.

Anyone who wants to build their own empire should follow what the boss standard. No one should challenge his power and authority or else worse things may happen.

Well, China is one of those who are actually following cryptocurrency though may not really totally legal but not also illegal unless the government immediately prohibited cryptos.

Mining, investors, cryptos could be find in China as business as usual. They can play well crypto. Let us be careful and don't panic.

[satpol_PP]

I think its just market startegy. I don't believe Chinese will han bitcoin and crypto currency.
Let's se for several week again.
I think whales will accumulate bitcoin and bitcoin price will pump.
I still believe bitcoin will touch new ATH

[Freemind]

China wants it all, no one should doubt that. They are very intelligent and know what to say and do at all times to create chaos and confusion, taking advantage of all situations. And that is precisely what they are doing with cryptocurrencies, taking advantage of every situation. The Chinese government may ban all cryptocurrencies for its citizens, but no one is preventing the government from accumulating cryptocurrencies and trading them in the future. When the government ban something that can improve the economy of a country it is for a very simple reason.

[vegasus]

We really cannot guess what this country wants. Sometimes, there are some certain hidden secrets of this country by making many bad news and FUDs so far. There are some rumours that it is done because to make the Bitcoin dropped and they can accumulate more Bitcoin in a cheaper price in order to get higher rate later/ But, none can prove it

[de_prof]

We really cannot guess what this country wants. Sometimes, there are some certain hidden secrets of this country by making many bad news and FUDs so far. There are some rumours that it is done because to make the Bitcoin dropped and they can accumulate more Bitcoin in a cheaper price in order to get higher rate later/ But, none can prove it

I agree with you, I think they Just accumulate bitcoin and altcoin.
I still believe It's just strategy of whales.
spread negative issue, buy more and hold it.
FUDDER gonna FUD.
So, it will go with the wind.
I believe everything will be okay again.

[Cryptoz]

We really don't know about what happened to this problem actually. So far, the issues of China banning crypto have been since a long time ago. But now the issues are raised again and again and they make much more FUD.
It seems that it is not only about the certain interest done by that country but also various interests behind this issue. We don't know who controls these issues behind and we don't know what is the exact matter that they really want, especially the whales.

[Michael.sol]

That's really hard to predict 😕 , because 90% fud coming from china . Intact we all know china on no 1 who mine 90% of btc ( from minners )  . They should regulate crypto currency in their region as a currency.  But seem china always busyin fudding when btc in fully bullish and bearish

[bayiajaib]

That's really hard to predict 😕 , because 90% fud coming from china . Intact we all know china on no 1 who mine 90% of btc ( from minners )  . They should regulate crypto currency in their region as a currency.  But seem china always busyin fudding when btc in fully bullish and bearish

I think Chinese government should have good solution for this problem.
If they said bitcoin mining is bad for environmental, I think the government should have solutions , not only ban and ban.
It's funny.
Crypto currency is the future currency.

[Dora Walletinvestor]

I believe that China wanting to create their own central bank digital currency may have something to do with them banning Bitcoin. That way if they do introduce a digital money, there won't be any "competitors".

[Callisto]

China's central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin.

The price of Bitcoin fell by more than $2,000 (£1,460) in the wake of the Chinese announcement.

It is the latest in China's national crackdown on what it sees as a volatile, speculative investment at best - and a way to launder money at worst.

Source: China declares all crypto-currency transactions illegal

The information is not new, because China has continuously issued bans on the crypto market: ban on use, ban on mining, ban on trading… This has been going on for many years and after each ban, Bitcoin & crypto market growing stronger. I am even glad that China's influence on the crypto market is not as great as before.

However, there are some who think that this action of China is to dump the price and buy more crypto from market. We believe that China has huge ambitions and of course it want to manipulate the crypto market.

What do you think about China's bans? Will they be enough to make the crypto market go into winter right now? Is this just a way for China to buy the dip?

I think that such decisions always come next to speculation, this is another tool for large corporations to buy bitcoins when they fall, after such statements or decisions from the government. Indeed, huge amounts of cryptocurrency have been accumulated in China. After the fall, the Chinese themselves will start buying digital gold.

[Jaephoenix]

China banning bitcoin and cryptocurrency in all ramifications has been a recurring theme in crypto. It's even getting boring. But crypto always gets back to its feet all the time. This last time I loved it because I used the opportunity to fill my bags

[pacar_tiri]

China banning bitcoin and cryptocurrency in all ramifications has been a recurring theme in crypto. It's even getting boring. But crypto always gets back to its feet all the time. This last time I loved it because I used the opportunity to fill my bags

You're right, crypto currency is the future technology..I don't believe chinese can ban bitcoin and altcoins.
No one can refuse the future technology.
So, keep calm.
Let me see, how long they will ban crypto.

[Gyrgen]

And I think that states begin to act in this way because they understand the danger that threatens them. And besides, there is a global war between the "old" and "new" world order. The same El Salvador, for example, did exactly the opposite, and the size of the state does not matter .Created a precedent.