If China soon welcomes crypto: strong bullrun?

[milewilda]

China is trying it's best to be careful with cryptocurrency.it has successfully cracked down on trading and mining to stay in control but still they have not completely banned people from owning or trading crypto privately. They're focusing on their own digital currency, the yuan, and using Hong Kong to test how crypto might work in the future. If things go well, China might allow more crypto activity, which may bring in a lot of money and help the market's growth.

We know that China is Big fact on cryptocurrency and another economic sector. Because China is biggest populated country. And Huge mining happened in China. When China Government restricted on cryptocurrency then we saw big impact on cryptocurrency. Within short time Market gose huge down.

So when China will welcomes crypto then it will creat great impact on cryptocurrency market there has no doubt. And when it will happen after then Bitcoin price will increase rapidly.

China is one of the countries with the largest economy, so if the Chinese government legalizes crypto it will have a positive impact on crypto. many Chinese citizens invest in crypto even though the government prohibits it, and this will be a good thing for their citizens if the government allows it.
We see several other big countries have started to accept crypto, including the US even though we also know they are fighting mixers but at least it is good because what is being fought is only mixers, but accepting other crypto.

Same story or sentiment that we would really be able to see if other first world or to  those rich country would really be making up such decision on which they could just simply
make up some bans and then later on they would really be making up those kind of decisions about accepting or adopting it and then next they would be revoking up such
decision as they pleases. This is why im not really that expecting too much in regarding about into their decisions on which it could really be that anytime be taken back
and effects that it could give out on which its not something shocking.

[Crypto Library]

Crypto technology is different from other social tech technology. The China supreme has refused to allow its people use social media apps such as Facebook and WhatsApp and they have clone their own similar app, they have Wechat and it's even used by some countries. However, even US has rejected a phone China created like the Huawei phone.

However, if the US embrace crypto and I'm not sure they will create their own coin because the people wouldn't use it because there is nothing good about national crypto. Even he CBDC US government has created don't have any use so far.

Here I am not talking about China and America among other things because both countries oppose each other in the field of technology and war.

However, I still haven't found the reason for China's crypto currency ban. In 2021, they banned crypto currency and its mining and destroyed Hughes Amount's mining farm and mining hardware.
But I still suspect that the Chinese are secretly working with crypto currency and maybe they are secretly adopting bitcoin. Because not being associated with crypto currency is a loss for them and I don't think China is so stupid.

[dekafee79]

Crypto technology is different from other social tech technology. The China supreme has refused to allow its people use social media apps such as Facebook and WhatsApp and they have clone their own similar app, they have Wechat and it's even used by some countries. However, even US has rejected a phone China created like the Huawei phone.

However, if the US embrace crypto and I'm not sure they will create their own coin because the people wouldn't use it because there is nothing good about national crypto. Even he CBDC US government has created don't have any use so far.

Here I am not talking about China and America among other things because both countries oppose each other in the field of technology and war.

However, I still haven't found the reason for China's crypto currency ban. In 2021, they banned crypto currency and its mining and destroyed Hughes Amount's mining farm and mining hardware.
But I still suspect that the Chinese are secretly working with crypto currency and maybe they are secretly adopting bitcoin. Because not being associated with crypto currency is a loss for them and I don't think China is so stupid.

I also think that, the Chinese government strongly opposes crypto starting from Crypto mining and prohibits its citizens from investing and transacting in Crypto even though several large countries have started to receive crypto, the possibility of a quietly use of chinan using and has crypto because it is impossible for the country to not understand the crypto and the technology offered by Crypto. Will always be a question in our minds, what's up?

[satpol_PP]

I also think that, the Chinese government strongly opposes crypto starting from Crypto mining and prohibits its citizens from investing and transacting in Crypto even though several large countries have started to receive crypto, the possibility of a quietly use of chinan using and has crypto because it is impossible for the country to not understand the crypto and the technology offered by Crypto. Will always be a question in our minds, what's up?

Actually we don't need to think too much about the Chinese government, because we don't know what they think and don't or what they do, China could be preparing its own crypto project that we don't know about. We should always focus on our investment in crypto and seek profit from the funds we invest. Because bitcoin is banned there and the reality is that bitcoin still survives, getting more expensive and more popular today.

[Dr.Bitcoin_Strange]

Actually we don't need to think too much about the Chinese government, because we don't know what they think and don't or what they do, China could be preparing its own crypto project that we don't know about. We should always focus on our investment in crypto and seek profit from the funds we invest. Because bitcoin is banned there and the reality is that bitcoin still survives, getting more expensive and more popular today.

I doubt if they actually have any intention to create their own crypto project but if they do, they might not have lot of citizens investing into the coins unless they will have to force citizens to invest in the coin or they make it a legal tender. If they can not allow Bitcoin, then any other coin or token they intend to build will not thrive because most people draw the motivation of investing in crypto from Bitcoin.

[Hatchy]

Here I am not talking about China and America among other things because both countries oppose each other in the field of technology and war.

However, I still haven't found the reason for China's crypto currency ban. In 2021, they banned crypto currency and its mining and destroyed Hughes Amount's mining farm and mining hardware.
But I still suspect that the Chinese are secretly working with crypto currency and maybe they are secretly adopting bitcoin. Because not being associated with crypto currency is a loss for them and I don't think China is so stupid.

China has been a rival country with the US for long time, when it comes to advancement, technology and many other things. Their ban on crypto would be to help them regulate the rise of crypto scam that was becoming a common thing in the economy. Cryptocurrency is a great technology and no country would want to risk being left out. Though most of them are currently putting out chase on most crypto firms and other branches it still not totally removed from their economy. If you think of it properly, those government officials that have been around the world must have seen how the technology has improved the economy of other countries like El salvador.
They will have to put it into consideration and that would be a reason for the welcoming of crypto back to their country..

[royalRitta]

Actually we don't need to think too much about the Chinese government, because we don't know what they think and don't or what they do, China could be preparing its own crypto project that we don't know about. We should always focus on our investment in crypto and seek profit from the funds we invest. Because bitcoin is banned there and the reality is that bitcoin still survives, getting more expensive and more popular today.

I doubt if they actually have any intention to create their own crypto project but if they do, they might not have lot of citizens investing into the coins unless they will have to force citizens to invest in the coin or they make it a legal tender. If they can not allow Bitcoin, then any other coin or token they intend to build will not thrive because most people draw the motivation of investing in crypto from Bitcoin.

Are you sure they won't be able to hold it?
Imagine it, a coin held and associated with China itself, I don't think that nobody would invest in it besides the China citizens themselves.
Though, of course, it wouldn't surpass Bitcoin in terms of stability, there I would agree with you.

[Crypto Library]

China has been a rival country with the US for long time, when it comes to advancement, technology and many other things. Their ban on crypto would be to help them regulate the rise of crypto scam that was becoming a common thing in the economy. Cryptocurrency is a great technology and no country would want to risk being left out. Though most of them are currently putting out chase on most crypto firms and other branches it still not totally removed from their economy. If you think of it properly, those government officials that have been around the world must have seen how the technology has improved the economy of other countries like El salvador.
They will have to put it into consideration and that would be a reason for the welcoming of crypto back to their country..

I don't really know how much the ban on crypto helped China regulate scams and have a positive effect on their economy. If you see that even after banning crypto, China is ranked 20th out of 151 countries that use crypto currency the most.  If I talk about my country Bangladesh is at 35th position out of 151 countries in terms of crypto usage even the ban crypto currency in our country too.
And even if it is a victim of crypto currency scamming, those countries will have the highest number of users.  So I think China should not get much advantage in this aspect.

[JISAN]

China is the most populous country in the world.  So if China makes a decision about Bitcoin it will definitely put a huge fx in the market.  If China accepts Bitcoin as a legal currency, Bitcoin's bull run will surely begin. And the price of Bitcoin will rise at a rate we cannot predict. According to 2022 data, China has a population of 1.412B If on average 10% of China's population invests in Bitcoin, the price of Bitcoin will go up a lot.  Because Bitcoin supply is limited but then demand will be unlimited

[Aanuoluwatofunmi]

Let's not give ourselves a false hope because China are not going to adopt bitcoin or any cryptocurrency for any reason, they have their own cbdc and are doing all it takes to avoid any other currency taking over their own native currency, you could see from the way they have been taking their regulations so serious, bitcoin should not be what we are going to see become a mainstream in China for now except they have a change in government.

[Gurujebs]

Let's not give ourselves a false hope because China are not going to adopt bitcoin or any cryptocurrency for any reason, they have their own cbdc and are doing all it takes to avoid any other currency taking over their own native currency, you could see from the way they have been taking their regulations so serious, bitcoin should not be what we are going to see become a mainstream in China for now except they have a change in government.

The Chinese as a country doesn't like what other people control, they don't want supremacy of another country which is why things have been ban in their country and as long as Bitcoin is decentralized as we claim, then Bitcoin will remain banned in their country regardless of what other people think, I'm not even sure they care about what other people think, there country there rule.

It's better like this that Bitcoin is speculative around their region because some of their citizens are still holding Bitcoin despite all the harsh policies to stop their citizens from buying and selling Bitcoin, it enable the reason for Bitcoin creatiom because people will always buy no matter what the country stand.

[JoyMarsha]

I still suspect that the Chinese are secretly working with crypto currency and maybe they are secretly adopting bitcoin. Because not being associated with crypto currency is a loss for them and I don't think China is so stupid.

From what I am made to understand, China has its crypto coins they believe in, not Bitcoin.

Some of the crypto coins they believe in and accept for their citizenry to trade on are Neo, Vechain, OKX, IRIS network, BitDAO, and Conflux network.

[Legion]

Let's not give ourselves a false hope because China are not going to adopt bitcoin or any cryptocurrency for any reason, they have their own cbdc and are doing all it takes to avoid any other currency taking over their own native currency, you could see from the way they have been taking their regulations so serious, bitcoin should not be what we are going to see become a mainstream in China for now except they have a change in government.

However, it is also important to note that a country’s policy towards new technologies may well be a reflection of its overall economic and political strategy. But in China’s case, its restrictive policy in relation to the crypto could be related not so much to the tech as to the domestic economic regulation and financial reliability. As an example of large nations’ potential to decides on the management and interconnection of their systems, China exemplifies how it could aim at developing technologies like CBDCs.

[Crypto Library]

From what I am made to understand, China has its crypto coins they believe in, not Bitcoin.

Some of the crypto coins they believe in and accept for their citizenry to trade on are Neo, Vechain, OKX, IRIS network, BitDAO, and Conflux network.

It may be because they create everything dedicatedly for them especially if you look at the social platforms then you will understand that America created Facebook in the world and they started using Wechat invent it. Anyway that's not the point here since crypto currency is directly related to economic issues I don't think they can limit themselves to just their cryptocoin. In order to be successful here, one has to keep bitcoin and other top pairs altcoins in the add option or use list.
And what I already mentioned in my previous post is that even after they have declared crypto currency illegal, they are listed as the 20th country in the world to use crypto where the total number of countries is 151.

[enoch_from_off]

I still suspect that the Chinese are secretly working with crypto currency and maybe they are secretly adopting bitcoin. Because not being associated with crypto currency is a loss for them and I don't think China is so stupid.

From what I am made to understand, China has its crypto coins they believe in, not Bitcoin.

Some of the crypto coins they believe in and accept for their citizenry to trade on are Neo, Vechain, OKX, IRIS network, BitDAO, and Conflux network.

Interesting. I know only OKX from those