If China soon welcomes crypto: strong bullrun?

[0t3p0t]

I have a position in China that is very opportunistic with the issue of bitcoin and crypto, for them the best is their own stablecoin, and there is no other, because for bitcoin they have done a very good job propagating it and then completely filling bitcoin with FUD Of course, I am a person who does not believe in any government, any politician, no matter how much he says and promises good things, because it is very similar to what Elon Musk did because he spoke badly about bitcoin, so these types of things for a country that tell them now that it is pro-bitcoin or pro-crypto, because there is a very large itnere's, of course it will give a bullish impulse, but it will also exert strong pressure on those Chinese citizens who have great control over them, it is beneficial so that they can raise the price of bitcoin, but I wouldn't trust much of what this country says because I know that later they will speak badly about bitcoin.

In fact, we know that China is one of the countries with the largest economy in the world, but until now China has not supported and allowed bitcoin and crypto there. Maybe if China legalizes bitcoin, the price of bitcoin will be higher than today because it has a large crypto community.

For now I think few cities only hosts cryptocurrency activities like Hongkong which is I think very open to crypto. I think they already approved Bitcoin and Ethereum ETF if I am not mistaken. But if China, Russia, North Korea and other communist countries I think it has huge impact in the cryptocurrency market but we all know it seems not possible right now. 😅

[pacar_tiri]

For now I think few cities only hosts cryptocurrency activities like Hongkong which is I think very open to crypto. I think they already approved Bitcoin and Ethereum ETF if I am not mistaken. But if China, Russia, North Korea and other communist countries I think it has huge impact in the cryptocurrency market but we all know it seems not possible right now. 😅

It's true, Hong Kong has approved ETFs, but China and several countries you mentioned are still adamant about prohibiting the use of cryptocurrencies in their countries and will never give any ETF permission for cryptocurrencies including Bitcoin. They are a very developed country with very good economic conditions. They don't want their country to be destroyed because they allow their people to carry out cryptocurrency trading activities which have the potential to make them bankrupt.

[LUCKMCFLY]

I have a position in China that is very opportunistic with the issue of bitcoin and crypto, for them the best is their own stablecoin, and there is no other, because for bitcoin they have done a very good job propagating it and then completely filling bitcoin with FUD Of course, I am a person who does not believe in any government, any politician, no matter how much he says and promises good things, because it is very similar to what Elon Musk did because he spoke badly about bitcoin, so these types of things for a country that tell them now that it is pro-bitcoin or pro-crypto, because there is a very large itnere's, of course it will give a bullish impulse, but it will also exert strong pressure on those Chinese citizens who have great control over them, it is beneficial so that they can raise the price of bitcoin, but I wouldn't trust much of what this country says because I know that later they will speak badly about bitcoin.

In fact, we know that China is one of the countries with the largest economy in the world, but until now China has not supported and allowed bitcoin and crypto there. Maybe if China legalizes bitcoin, the price of bitcoin will be higher than today because it has a large crypto community.

Well, I hope it is like that because we are not people who can generate very good market speculation options, but I think if China releases that they can buy Bitcoin , that will Undoubtedly lead to a great rise in the price of bitcoin and that will be decisive for that we can generate high-level speculations, but if China allows bitcoin, I imagine that it will impose a large tax on those who do not use it, but given that China is such a large country, with one of the best economies in the world, just as you say , since it can trigger many good things or, above all, for bitcoin to rise in price, although we all know that in China they do manage bitcoin under privacy and Anonymity protocols.

[MrSpasybo]

Well, I hope it is like that because we are not people who can generate very good market speculation options, but I think if China releases that they can buy Bitcoin , that will Undoubtedly lead to a great rise in the price of bitcoin and that will be decisive for that we can generate high-level speculations, but if China allows bitcoin, I imagine that it will impose a large tax on those who do not use it, but given that China is such a large country, with one of the best economies in the world, just as you say , since it can trigger many good things or, above all, for bitcoin to rise in price, although we all know that in China they do manage bitcoin under privacy and Anonymity protocols.

As long as Hong Kong continues to accept crypto, I will still have expectations for the return of investment capital from the mainland into this market. For now, we can wait for the success of BTC & ETH Spot ETFs in Hong Kong, which will be a good sign that people are really interested in the crypto market and that the Chinese government will have more motivation to allow crypto to be traded legally as before.

The legal framework and tax will be an inevitable part of the plan to manage the crypto market. We don't need to worry too much about this issue because if the Chinese government wants to allow the crypto market to exist, it will not be too greedy and set too high a tax rate.

[Jamal Aezaz]

Actually, China should start developing their crypto and allow crypto to be used by its citizens, because several countries have legalized bitcoin as an investment. If China takes the role of legalizing Bitcoin as one of the countries with the largest population and economy, it will have a good impact on the crypto market

If more countries are accepting crypto then the popularity of crypto will increase as a consequence of which it will become more successful. But the government of each country thinks differently so I think if China has not accepted crypto yet then there will be some reason behind it which we cannot understand.

The success of crypto is related to the adoption by the people therefore I think if China accepts crypto then Bitcoin price will increase even more than newly created ATH.

[Gyrgen]

Investments in the financial sector of the economy instead of the real one can have a very negative impact in the future. Already now the share of the financial sector is very significantly higher than the share of the real one, and this is not good. Regarding China, there are smart people in the government of the country and they understand that the development of crypto is not for them priority task. They don’t know what to do with US government debt bonds, and then there’s crypto. And above all, the Chinese government is able to influence the decision-making of private capital that exists in their country.

Yeah, I understand this. China is not really ready for crypto yet, or to be more precise, they are not ready to take the risk of accepting crypto into their national economy. The CBDC e-CNY is a countermeasure they have taken to adapt to crypto, but it has not been really effective. Currently, along with the crypto experiment in Hong Kong, China is also facing deflation in the country, which is even more stressful than the inflation in the US, EU and Japan. I still hope that in the future, China will open up to crypto and we can see positive things from wealthy investors in China in this market.

Actually, China should start developing their crypto and allow crypto to be used by its citizens, because several countries have legalized bitcoin as an investment. If China takes the role of legalizing Bitcoin as one of the countries with the largest population and economy, it will have a good impact on the crypto market

In fact, I think the Chinese government has enough high-level economic advisers who know and understand their own economy and the consequences of making certain economic decisions better than us. And the planning horizon, as in any serious government, is not a year or 5 years, but at least 50. So if they don’t do this, there are serious reasons for this.

[LUCKMCFLY]

Well, I hope it is like that because we are not people who can generate very good market speculation options, but I think if China releases that they can buy Bitcoin , that will Undoubtedly lead to a great rise in the price of bitcoin and that will be decisive for that we can generate high-level speculations, but if China allows bitcoin, I imagine that it will impose a large tax on those who do not use it, but given that China is such a large country, with one of the best economies in the world, just as you say , since it can trigger many good things or, above all, for bitcoin to rise in price, although we all know that in China they do manage bitcoin under privacy and Anonymity protocols.

As long as Hong Kong continues to accept crypto, I will still have expectations for the return of investment capital from the mainland into this market. For now, we can wait for the success of BTC & ETH Spot ETFs in Hong Kong, which will be a good sign that people are really interested in the crypto market and that the Chinese government will have more motivation to allow crypto to be traded legally as before.

The legal framework and tax will be an inevitable part of the plan to manage the crypto market. We don't need to worry too much about this issue because if the Chinese government wants to allow the crypto market to exist, it will not be too greedy and set too high a tax rate.

I think something, as long as bitcoin continues its course as it is, that is, liquid money, a country like China cannot reject money, at some point it will not enter China, and in fact, it will enter with regulations for its people, so this is something that It is a fact, in addition the Chinese are very calculating, and they cannot miss an opportunity like this, that is why they talk bin or bad about crypto, about bitcoin, it is for pure convenience, we all know it, China has great power to exercise prohibitions people of many things that are done within the legal framework and that are very radical for those who violate its rules, but in this case we are talking about a lot of money, and they obviously will not leave the opportunity to make money.

[yohananaomi]

Actually, China should start developing their crypto and allow crypto to be used by its citizens, because several countries have legalized bitcoin as an investment. If China takes the role of legalizing Bitcoin as one of the countries with the largest population and economy, it will have a good impact on the crypto market

If more countries are accepting crypto then the popularity of crypto will increase as a consequence of which it will become more successful. But the government of each country thinks differently so I think if China has not accepted crypto yet then there will be some reason behind it which we cannot understand.

The success of crypto is related to the adoption by the people therefore I think if China accepts crypto then Bitcoin price will increase even more than newly created ATH.

You are right, theoretically, as more countries want to adopt Bitcoin, its popularity will increase and trading will definitely become more active, which will result in prices possibly also increasing. China has banned it because the mining that takes place there really disrupts the ecosystem in their country, but if we want to accept it now, it will be because there are other elements that we may not yet know about.
Hopefully, this is good news, not just increasing the popularity of others.

[Captain Corporate]

Way too many people are talking about it, I remember the time when China wasn't against bitcoin, and they had bunch of miners, almost all of bitcoin mining was there, that wasn't like 100 years ago, its recent memory, and bitcoin did well but not like something unreal happened. We should definitely consider that as a good news if it ever happens again, it would be something to celebrate, but do not expect like overnight a million dollars per coin type of thing, maybe a small increase but that's about it. I don't get why people suddenly started to talk about this, and not only that but hype the possibility as well.

[MrSpasybo]

Way too many people are talking about it, I remember the time when China wasn't against bitcoin, and they had bunch of miners, almost all of bitcoin mining was there, that wasn't like 100 years ago, its recent memory, and bitcoin did well but not like something unreal happened. We should definitely consider that as a good news if it ever happens again, it would be something to celebrate, but do not expect like overnight a million dollars per coin type of thing, maybe a small increase but that's about it. I don't get why people suddenly started to talk about this, and not only that but hype the possibility as well.

This is a scenario that many investors are hoping for, as China is the world's 2nd largest economy and its citizens are willing to take on higher risks and invest more in crypto to change their financial situation. China's crypto policy is also quite interesting: they do not ban crypto outright, they still recognize crypto as an asset, and they allow Hong Kong to adopt crypto as a small-scale experiment.

Recently, BTC & ETH Spot ETFs have been approved in Hong Kong, although mainland money is not allowed to flow into these products, this also shows the development of the crypto experiment, suggesting optimistic responses from the mainland about crypto and it is very likely that China will soon allow crypto trading activities on the mainland.

[Jamal Aezaz]

You are right, theoretically, as more countries want to adopt Bitcoin, its popularity will increase and trading will definitely become more active, which will result in prices possibly also increasing. China has banned it because the mining that takes place there really disrupts the ecosystem in their country, but if we want to accept it now, it will be because there are other elements that we may not yet know about.
Hopefully, this is good news, not just increasing the popularity of others.

Its price will increase because the success of Bitcoin is highly concerned with supply and demand so with increasing demand Bitcoin will become lower in numbers which will increase its worth because previous things are limited in number and increased in price.

China will accept Bitcoin because nobody can ignore the success of Bitcoin and everyone wants to choose a successful platform to make their economy better. If there exist some disadvantages then advantages are also there due to which we have to accept it and further work is needed to minimize its harmful effects as every problem has a certain solution.

[Uruhara]

Way too many people are talking about it, I remember the time when China wasn't against bitcoin, and they had bunch of miners, almost all of bitcoin mining was there, that wasn't like 100 years ago, its recent memory, and bitcoin did well but not like something unreal happened. We should definitely consider that as a good news if it ever happens again, it would be something to celebrate, but do not expect like overnight a million dollars per coin type of thing, maybe a small increase but that's about it. I don't get why people suddenly started to talk about this, and not only that but hype the possibility as well.

There is a lot of talk about something like this which is also very good at building hype itself. because if a discussion is being held here about this then in other places the same discussion may also be taking place. And yes, this hype is what sometimes drives adoption itself.
And talking about China, of course this increasingly advanced economic country always attracts global attention nowadays. so every policy always attracts a lot of media news. So there's no mistaking it if China starts supporting crypto then it will be quite hype news. but yeah that won't make prices rise rapidly. Maybe a few percent increase is possible. And slowly returning to normal after the hype is over.

[yohananaomi]

Way too many people are talking about it, I remember the time when China wasn't against bitcoin, and they had bunch of miners, almost all of bitcoin mining was there, that wasn't like 100 years ago, its recent memory, and bitcoin did well but not like something unreal happened. We should definitely consider that as a good news if it ever happens again, it would be something to celebrate, but do not expect like overnight a million dollars per coin type of thing, maybe a small increase but that's about it. I don't get why people suddenly started to talk about this, and not only that but hype the possibility as well.

There is a lot of talk about something like this which is also very good at building hype itself. because if a discussion is being held here about this then in other places the same discussion may also be taking place. And yes, this hype is what sometimes drives adoption itself.
And talking about China, of course this increasingly advanced economic country always attracts global attention nowadays. so every policy always attracts a lot of media news. So there's no mistaking it if China starts supporting crypto then it will be quite hype news. but yeah that won't make prices rise rapidly. Maybe a few percent increase is possible. And slowly returning to normal after the hype is over.

We cannot deny that China is a large country and has a very rapidly developing economy, so any news about that country will make a contribution to what is reported, as well as the question of the return of bitcoin may return there, so this news will inevitably make a big contribution to the development of bitcoin itself.
Hopefully, this is not just news, but will indeed be enforced because up to now, it has only been heard as news, but there has been no official decision. With just the news there has been a contribution made, moreover it will be determined later. Of course, we will see this contribution to the development of Bitcoin in the future.

[Rubel007]

Way too many people are talking about it, I remember the time when China wasn't against bitcoin, and they had bunch of miners, almost all of bitcoin mining was there, that wasn't like 100 years ago, its recent memory, and bitcoin did well but not like something unreal happened. We should definitely consider that as a good news if it ever happens again, it would be something to celebrate, but do not expect like overnight a million dollars per coin type of thing, maybe a small increase but that's about it. I don't get why people suddenly started to talk about this, and not only that but hype the possibility as well.

The Chinese government's attitude towards crypto won't change so easily. But if that changes, it could lead to a revolution in cryptocurrency. But what I understand is why crypto is being discouraged in that country. It has now become a diplomatic issue. Since the US has a positive view on crypto, the Chinese government will never take it positively. This is the main problem. But if the Chinese government were to favor its country's miners, the country would benefit the most from crypto and add a new dimension to cryptocurrencies. I hope that the attitude of the government of that country will definitely change in the future.