If China soon welcomes crypto: strong bullrun?

[Jamal Aezaz]

I don't care and why should you, let China do whatever they want to do, BTC doesn't depend on any country or on politicians for its survival, i don't know why people keep on talking about China accepting BTC, like it would do them a favor. Forget about the argument of a pump in price, bitcoin is decentralized, it looks like some of you would trade decentralization for price growth, it's pathetic to think about it.

The acceptance of bitcoin from different countries surely impacts the value of Bitcoin because the value of Bitcoin increases as the demands and buying rate of Bitcoin increases therefore we cannot say that if more countries are accepting Bitcoin then there will be no negative or positive effect on Bitcoin price. Bitcoin is decentralized but the news and supply and demand have some sort of effects on the worth as well as on pump and dump of Bitcoin so don't neglect the good effects just because of acceptance of bitcoin via different countries.

As more people move towards Bitcoin investment the value of Bitcoin goes higher and the evidence of this fact will be understandable if someone sees the price in the past and then compares it with the present.

[doc]

I don't care and why should you, let China do whatever they want to do, BTC doesn't depend on any country or on politicians for its survival, i don't know why people keep on talking about China accepting BTC, like it would do them a favor. Forget about the argument of a pump in price, bitcoin is decentralized, it looks like some of you would trade decentralization for price growth, it's pathetic to think about it.

The acceptance of bitcoin from different countries surely impacts the value of Bitcoin because the value of Bitcoin increases as the demands and buying rate of Bitcoin increases therefore we cannot say that if more countries are accepting Bitcoin then there will be no negative or positive effect on Bitcoin price. Bitcoin is decentralized but the news and supply and demand have some sort of effects on the worth as well as on pump and dump of Bitcoin so don't neglect the good effects just because of acceptance of bitcoin via different countries.

As more people move towards Bitcoin investment the value of Bitcoin goes higher and the evidence of this fact will be understandable if someone sees the price in the past and then compares it with the present.

You are right if you say that the more countries allow and accept bitcoin, the higher the price of bitcoin will be because of course demand will increase.  Moreover, if big countries like China accept and support bitcoin, this will have a good impact on bitcoin.  and of course we as crypto lovers will benefit from our coins

[yohananaomi]

I don't care and why should you, let China do whatever they want to do, BTC doesn't depend on any country or on politicians for its survival, i don't know why people keep on talking about China accepting BTC, like it would do them a favor. Forget about the argument of a pump in price, bitcoin is decentralized, it looks like some of you would trade decentralization for price growth, it's pathetic to think about it.

The acceptance of bitcoin from different countries surely impacts the value of Bitcoin because the value of Bitcoin increases as the demands and buying rate of Bitcoin increases therefore we cannot say that if more countries are accepting Bitcoin then there will be no negative or positive effect on Bitcoin price. Bitcoin is decentralized but the news and supply and demand have some sort of effects on the worth as well as on pump and dump of Bitcoin so don't neglect the good effects just because of acceptance of bitcoin via different countries.

As more people move towards Bitcoin investment the value of Bitcoin goes higher and the evidence of this fact will be understandable if someone sees the price in the past and then compares it with the present.

You are right if you say that the more countries allow and accept bitcoin, the higher the price of bitcoin will be because of course demand will increase.  Moreover, if big countries like China accept and support bitcoin, this will have a good impact on bitcoin.  and of course we as crypto lovers will benefit from our coins

We hope as you say, but it doesn't seem easy for China to be able to accept crypto again, after they themselves banned very large mining in China, so that activities there immediately collapsed due to the ban and moved to several countries that were willing to accept it. Maybe it won't be easy to move in the near future even if there will be acceptance again, because they really want to be able to control crypto itself, so we don't know what the intention is behind acceptance in Hong Kong.

[Mr. Magkaisa]

It could be that a signal of an experiment was carried out in Hong Kong which is still under their authority, and they will see the prospects of what has been done in Hong Kong, whether they will be able to make a contribution and at least be able to provide encouragement to their community there to ask the government to accept crypto again.
It's true, they have difficulty being able to exercise control over crypto, so as the largest economic power, they really want to be able to do that, and it's impossible to do, but they inevitably have to open themselves up to crypto developments, and they clearly don't want to be left behind.
If they want to open themselves up to crypto, it is not impossible that the crypto market will become enthusiastic again and this cannot be avoided.

If the experiment in Hong Kong is successful, of course it will make other countries follow suit, crypto, especially bitcoin, is very popular now. Even though no one can control Bitcoin, we know Bitcoin is progress that we must accept, no one can reject technological progress.

I think you are right that bitcoin is the latest technology, and it is difficult for anyone to avoid the reality of a phenomenon like this, so it seems that anyone cannot avoid accepting this progress, otherwise they will be left behind.
Hopefully, the Hong Kong experiment will spur the Chinese community to ask to be accepted back.
Because it is clear that the impact will be felt because China is a very advanced economic country and will have an impact on the movement of bitcoin itself.

     -   Well, that's true. If we only talk about Bitcoin, when a country slows down its decision in this era, they will really be left behind with the technology we have today. The only thing about the approval made by us on Spot ETF of Bitcoin is that they should be aware of that.

Because if there is a country that insists on not accepting or recognizing bitcoin, the country that does not recognize bitcoin or the blockchain technology that it brings to us will definitely be left behind.

[doc]

     -   Well, that's true. If we only talk about Bitcoin, when a country slows down its decision in this era, they will really be left behind with the technology we have today. The only thing about the approval made by us on Spot ETF of Bitcoin is that they should be aware of that.

Because if there is a country that insists on not accepting or recognizing bitcoin, the country that does not recognize bitcoin or the blockchain technology that it brings to us will definitely be left behind.

Yes, technology will progress, if there are countries that cannot accept crypto technology they will be left behind by other countries. cryoto is a technology of the future, because many people predict that everything will be digital in time. Why is the country still closed off from this technology? Maybe because of security reasons and the government can't control crypto.

[Gurujebs]

You are right if you say that the more countries allow and accept bitcoin, the higher the price of bitcoin will be because of course demand will increase.  Moreover, if big countries like China accept and support bitcoin, this will have a good impact on bitcoin.  and of course we as crypto lovers will benefit from our coins

Most countries now allow everyone to buy and sell Bitcoin and even tax their citizens and yet it's not the reason why Bitcoin is where it's today but it's the adoption growth that gave Bitcoin value to where it is today. The countries that has allowed people to buy and sell Bitcoin role is the only thing that can make Bitcoin more demanding. If a country like China which has larger population make Bitcoin a legal tender today and Russia do the same, Bitcoin will explode and can go as high as 500k before these years end but they are not doing it and this why Bitcoin still has a lot of place to go.

[Jamal Aezaz]

You are right if you say that the more countries allow and accept bitcoin, the higher the price of bitcoin will be because of course demand will increase.  Moreover, if big countries like China accept and support bitcoin, this will have a good impact on bitcoin.  and of course we as crypto lovers will benefit from our coins

Pumping and dumping is totally dependent on the supply and demand so whenever good news arises more people desire to accept Bitcoin hence it's demand increases due to which the price also increases so I think in the past the demand was not higher due to lack of knowledge but now as the knowledge is spreading about Bitcoin so the value also elevates.

If the acceptance of bitcoin increases throughout the world then it will be a profitable movement for all holders because Bitcoin will elevate in price which will become a cause of altcoins elevation.

[yohananaomi]

You are right if you say that the more countries allow and accept bitcoin, the higher the price of bitcoin will be because of course demand will increase.  Moreover, if big countries like China accept and support bitcoin, this will have a good impact on bitcoin.  and of course we as crypto lovers will benefit from our coins

Most countries now allow everyone to buy and sell Bitcoin and even tax their citizens and yet it's not the reason why Bitcoin is where it's today but it's the adoption growth that gave Bitcoin value to where it is today. The countries that has allowed people to buy and sell Bitcoin role is the only thing that can make Bitcoin more demanding. If a country like China which has larger population make Bitcoin a legal tender today and Russia do the same, Bitcoin will explode and can go as high as 500k before these years end but they are not doing it and this why Bitcoin still has a lot of place to go.

You are right that many countries allow it to be used as investment and trade, but there are still many who do not allow it to be used as legal tender and still use their country's fiat. China has a large population, and it should be known that it used to be the largest bitcoin mining area in the world, but because there were certain interests, it was finally stopped and not allowed.
It is difficult for China to legalize bitcoin there, because they still want to be able to intervene in everything, and it is difficult to do this because no one regulates bitcoin and moves on its own due to trade. Even without China, bitcoin at the end of this year will be able to move better and until the beginning of next year with the latest ATH.

[MrSpasybo]

You are right that many countries allow it to be used as investment and trade, but there are still many who do not allow it to be used as legal tender and still use their country's fiat. China has a large population, and it should be known that it used to be the largest bitcoin mining area in the world, but because there were certain interests, it was finally stopped and not allowed.
It is difficult for China to legalize bitcoin there, because they still want to be able to intervene in everything, and it is difficult to do this because no one regulates bitcoin and moves on its own due to trade. Even without China, bitcoin at the end of this year will be able to move better and until the beginning of next year with the latest ATH.

I also agree that crypto and BTC can exist and continue to grow even if China does not change its stance on crypto. Crypto has existed and developed without the participation of capital flows from Chinese investors and miners. However, we can also expect that the participation of large capital flows from China can boost liquidity and market vibrancy during bullrun.

With the pilot application on a small scale in Hongkong, I am really looking forward to the opportunity for crypto to be accepted in China this year and we will have an extremely large bull run next year. I will not refuse any momentum that can boost the price of BTC and ALTS, and I will not refuse any opportunity to take profits as soon as positive news related to China is released and absorbed into the price charts.

[yohananaomi]

You are right that many countries allow it to be used as investment and trade, but there are still many who do not allow it to be used as legal tender and still use their country's fiat. China has a large population, and it should be known that it used to be the largest bitcoin mining area in the world, but because there were certain interests, it was finally stopped and not allowed.
It is difficult for China to legalize bitcoin there, because they still want to be able to intervene in everything, and it is difficult to do this because no one regulates bitcoin and moves on its own due to trade. Even without China, bitcoin at the end of this year will be able to move better and until the beginning of next year with the latest ATH.

I also agree that crypto and BTC can exist and continue to grow even if China does not change its stance on crypto. Crypto has existed and developed without the participation of capital flows from Chinese investors and miners. However, we can also expect that the participation of large capital flows from China can boost liquidity and market vibrancy during bullrun.

With the pilot application on a small scale in Hongkong, I am really looking forward to the opportunity for crypto to be accepted in China this year and we will have an extremely large bull run next year. I will not refuse any momentum that can boost the price of BTC and ALTS, and I will not refuse any opportunity to take profits as soon as positive news related to China is released and absorbed into the price charts.

When China refused mining, there was definitely an impact on the market, but finally Crypto was able to rise without China. Once I am also as confident as you if China does not change its stance towards Crypto, we can be sure that Crypto will still be able to move improved. But if China finally wants to receive back, then the market will quickly recover when it is currently down.
We just wait for how to respond when Hong Kong is made a pilot before it will be done in China widespread. But it is not too expected that China will be able to accept because the system really wants them to be able to control and difficult to happen.

[doc]

When China refused mining, there was definitely an impact on the market, but finally Crypto was able to rise without China. Once I am also as confident as you if China does not change its stance towards Crypto, we can be sure that Crypto will still be able to move improved. But if China finally wants to receive back, then the market will quickly recover when it is currently down.
We just wait for how to respond when Hong Kong is made a pilot before it will be done in China widespread. But it is not too expected that China will be able to accept because the system really wants them to be able to control and difficult to happen.

China is a large country in terms of population and economy. Actually, I'm too lazy to discuss crypto which is always associated with China, because in my opinion, even without China, crypto still exists and is developing to this day. Why do people always talk about China? It's best to forget that and focus on our investments.

[MrSpasybo]

China is a large country in terms of population and economy. Actually, I'm too lazy to discuss crypto which is always associated with China, because in my opinion, even without China, crypto still exists and is developing to this day. Why do people always talk about China? It's best to forget that and focus on our investments.

Yeah, our ultimate goal is still to profit from our investments in the crypto market, which means we need to focus on our portfolio rather than on the involvement of any particular country. However, we may also need to refer to the market development at times and more inflow of funds into crypto market.

When the market experiences a downturn or consolidation, investors often tend to think of an optimistic scenario, where a positive news or new inflow of funds could save the market from danger or drive strong growth in the future. At that time, China is mentioned again because its stance on crypto is still unclear: it bans crypto mining and trading but has recently agreed to allow Hongkong to experiment crypto.

[yohananaomi]

When China refused mining, there was definitely an impact on the market, but finally Crypto was able to rise without China. Once I am also as confident as you if China does not change its stance towards Crypto, we can be sure that Crypto will still be able to move improved. But if China finally wants to receive back, then the market will quickly recover when it is currently down.
We just wait for how to respond when Hong Kong is made a pilot before it will be done in China widespread. But it is not too expected that China will be able to accept because the system really wants them to be able to control and difficult to happen.

China is a large country in terms of population and economy. Actually, I'm too lazy to discuss crypto which is always associated with China, because in my opinion, even without China, crypto still exists and is developing to this day. Why do people always talk about China? It's best to forget that and focus on our investments.

Apart from having a large population, China has a very large economy and trade and renewable technology, so crypto should not be something that is very no unknown there.
It is true that without China, crypto would still run as it has until now and continue to run well. But we are not minimizing the contribution. If there is China, at least trade will be more enthusiastic, which will make prices increase more quickly.

[DrBeer]

...
What do you think about how China manages crypto? Is this an effective approach? What could China be planning with crypto in the future?
...

The problem is that the internal processes taking place in China will not allow to make the crypto market open for all, i.e. for citizens. The only option is to use cryptocurrencies to circumvent sanctions. How effective this step will be, we can only try to guess. Sanctions are an unpleasant thing, and China is very afraid of their strengthening, which means that it will take risks only in case of "vital necessity". Whether China needs it is a rhetorical question.

[MrSpasybo]

The problem is that the internal processes taking place in China will not allow to make the crypto market open for all, i.e. for citizens. The only option is to use cryptocurrencies to circumvent sanctions. How effective this step will be, we can only try to guess. Sanctions are an unpleasant thing, and China is very afraid of their strengthening, which means that it will take risks only in case of "vital necessity". Whether China needs it is a rhetorical question.

Cryptocurrency has been mentioned as a way to avoid financial sanctions. For example, Russia once wanted to use crypto to pay for oil bills but was unsuccessful. At present, China does not have this goal because it is still free to use global financial services.

I think China may change its views and regulations on crypto if it wants to keep up with the world in the crypto wave and collect huge tax revenue from this market. Another reason is that investors are looking for BTC and crypto to diversify their assets, putting indirect pressure on the government. I think in the future, we may see crypto legalized again in China!