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❕NEWS China could be having the adverse effect

AudraMiller

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Recently, over the course of this year it became very clear to all of us that china has a very large impact on the cryptocurrency market. When there was a ban that was placed by china on these coins there was a massive drop in the price of these coins across the board and for many people this caused them to panic and sell their coins, further adding to the drop and bear market as well. However it seems that this may not necessarily be the case moving forward. In fact in a recent news article it seems that Edward Snowden has said that the ban that is placed by China is actually helping bitcoin to become a stronger currency. Do you agree and why do you think that this is the case?
 
The ban placed by China might actually be adding positivity to the coin ,instead of negativity , because of how the price have been growing this year despite the ban
 
The rate of recovery of Bitcoin and other coins at the moment shows that China's relevance in the cryptocurrency ecosystem is almost down to zero and they should face their business the cryptocurrency market doesn't need them anymore.
 
I agree.. china has been dominating crypto currency in terms of miners and other things before and they ban and suddenly the prices of cryptos has dropped massively. Now that it has recovered without them what more can go wrong?
 
I totally agree to the submission that the ban in China is a blessing I disguise for the cryptocurrencies. This is because it makes the digital currency more popular.
 
Well I have really noticed any negative impacy since the ban. I think bitcoin is just going through its normal process of sometimes increasing another time decreasing and that's it.
 
As a decentralized system and digital currency, bitcoin mining should not be heavily reliant in just one country. It's to prevent the centralization of the system, which defeat the entire purpose of bitcoin in the first place. The band didn't have that much of an impact to the price since the price is now higher than ever.
 
I totally agree to the submission that the ban in China is a blessing I disguise for the cryptocurrencies. This is because it makes the digital currency more popular.
I have noticed this too. people are getting to know more about crypto so sometimes things happen to become a blessing. it is really bringing more investors into the network through a great users awareness that have been created.
 
China ban on crypto makes the saying that, what cannot kill you will make you stronger, apt. People have already though heaven would let lose when China declared her hatred for crypto. Though it affected the price drastically but it didn't kill it and later gave crypto much popularity and in some few months, the price began to correct itself rendering China's decision as non effective.
 
China ban on crypto makes the saying that, what cannot kill you will make you stronger, apt. People have already though heaven would let lose when China declared her hatred for crypto. Though it affected the price drastically but it didn't kill it and later gave crypto much popularity and in some few months, the price began to correct itself rendering China's decision as non effective.
Exactly, the China crackdown didn't affect crypto the way they are expected. yeah though I agree it brought the price w lot lower but the price went up again almost immediately and here we are still going strong. so it is now going that the China decision was even a good one for crypto world. sometimes things don't just seems the way they are. because nothing is certain about it
 
Recently, over the course of this year it became very clear to all of us that china has a very large impact on the cryptocurrency market. When there was a ban that was placed by china on these coins there was a massive drop in the price of these coins across the board and for many people this caused them to panic and sell their coins, further adding to the drop and bear market as well. However it seems that this may not necessarily be the case moving forward. In fact in a recent news article it seems that Edward Snowden has said that the ban that is placed by China is actually helping bitcoin to become a stronger currency. Do you agree and why do you think that this is the case?
To be honest, I will not give credence to China for having much impact on crypto coin. However, I won't deny the fact that crypto felt the effects of China's exits. But this is only as a result of unpreparedness of China. The drop in the price of Bitcoin was just as a result of new development and not really because of the importance of China.
 
China's move was always an incredible and calculated move else they would had much lower reserves and note people on the streets and asking for benefits and food from the government so they have finished the root cause that could had developed such a situation and they are happy and also safe from the declining Crypto markets now .
 

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