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[Razor1911]

It is no more a surprise for the traders about the impact of China's policies on the crypto market. The reason behind the fall of Bitcoin from 60000 levels to reach to current level is mainly concentrated to China's developments. But why China is so much important for Bitcoin market?

Reason behind market being so sensitive to China is that, China is the hub for Bitcoin miners. It is among the top countries which creates revenues worth billions by Bitcoin mining. Now if China is trying to ban crypto coins and its mining firms, the billion dollar market will be shattered. It is very much concerning to the investors, as mining will become more expensive in future. Which will ultimately drop the demand of the Bitcoin. That is why market reacts heavily for every single development in China.

 

[Wisdom01]

but to be honest China really have a huge impact in Bitcoin , because we could see that when they banned cryptocurrency at the first instance ,we could see how the market had a huge drop in price value ,I hope things gets better for the crypto currency market system , because I really want more increase instead of huge loss , cryptocurrency have the capacity to build forward

 

[BullyMaguire]

The market survives China's ban. There are countries that welcomes the miners from china to set up their mining companies in their country. While China's decisions influence the market a lot kt wasn't really relying on them.. also they can still lift the ban in the future.. there's still hope for crypto currency in china

 

[Wisdom01]

The market survives China's ban. There are countries that welcomes the miners from china to set up their mining companies in their country. While China's decisions influence the market a lot kt wasn't really relying on them.. also they can still lift the ban in the future.. there's still hope for crypto currency in china

with the crypto currency market rate as at now ,I Don't think China might actually release the ban on cryptocurrency ,the crypto currency market is actually facing the hit of downward trend in price , probably when there is a huge recovery then there could possibly be higher chances

 

[btaliat]

China is the most populated country in the world, she has been leveraging on her population to be dictating in the crypto world. But unfortunately, most developed countries do not toe the same line with it as Russia gladly welcomed miners after Chinese ban.

 

[Horia_10]

The Chinese are moving ahead and they will beat us Soon as we , no comparison to Russia China economy is 20times more than that of the Russia and that is why the China wants to not touch things that can lower is so not trading and no mining in China .

 

[achawaskey]

Truly speaking, China has cause a great impact on cryptocurrency, by banning cryptos mining because of the development of there own cryptocurrency, this made the cryptos miners to relocate to a favourable environment, and I believe after settling down and begin mining again, cryptos prise will increase.

 

[Horia_10]

Crypto prices won't increase with such things , it increase with the demand and the buyers at the moment not many investors want to take momey on bitcoin and that is why we can't expect Market to go much higher but become stabler maybe in soon .

 

[Wisdom01]

Truly speaking, China has cause a great impact on cryptocurrency, by banning cryptos mining because of the development of there own cryptocurrency, this made the cryptos miners to relocate to a favourable environment, and I believe after settling down and begin mining again, cryptos prise will increase.

the impact was really bad tho because ,the impact slowed the development of cryptocurrency ,if not for the impact cryptocurrency would have had major development ,but the impact slowed the development of cryptocurrency ,I wish cryptocurrency could get more boost apart from this

 

[SlotsGator]

It was sensitive because miners and ASICs are concentrated in China. They have cheap electricity in the Yangtze areas combined with semiconductors/chips factories. However, it's not that sensitive nowadays since many of these advantages are reduced. Many facilities were built in other countries because of competition and Chinese miners who flew from their country. Now, news about China won't affect crypto as much as it did.

 

[Gen Evie]

If the demand for bitcoin which was one of China's product is no more in demand, the next cryptocoin might take over bitcoin, because crypto miners in developed regions will come up with strategies for the next bitcoin. Though china ban did have some effect on the market today, but there are countries now devloping and involving themselves in bitcoin minning, doing it right with better technology...and could go far better than china. It'll take some time before bitcoin miners attention shift away from china.

 

[Niftyicon]

If only there were hints before the Chinese ban, then, maybe the impact on the cryptocurrency markets wouldn't have been so devastating. Even with that, a few more years may have Bitcoin recover fully as more and more people embrace it. The more the demand increases, the higher the price would grow.

 

[ElPaule]

It is no more a surprise for the traders about the impact of China's policies on the crypto market. The reason behind the fall of Bitcoin from 60000 levels to reach to current level is mainly concentrated to China's developments. But why China is so much important for Bitcoin market?

Reason behind market being so sensitive to China is that, China is the hub for Bitcoin miners. It is among the top countries which creates revenues worth billions by Bitcoin mining. Now if China is trying to ban crypto coins and its mining firms, the billion dollar market will be shattered. It is very much concerning to the investors, as mining will become more expensive in future. Which will ultimately drop the demand of the Bitcoin. That is why market reacts heavily for every single development in China.

The crypto market is sensitive to China's development for several reasons. First, China is one of the largest markets for cryptocurrencies, both in terms of trading volumes and mining activities. As such, any regulatory developments or announcements related to cryptocurrencies in China can have a significant impact on the overall market sentiment.

Second, China's regulatory approach towards cryptocurrencies has been known to be strict and unpredictable. In the past, China has banned initial coin offerings (ICOs) and shut down cryptocurrency exchanges, causing significant market fluctuations. This uncertainty and unpredictability in regulatory actions can cause a high level of volatility in the cryptocurrency market.

Third, China's central bank is currently developing its own digital currency, the Digital Yuan, which could potentially compete with other cryptocurrencies. Any updates or developments related to the Digital Yuan could also have an impact on the broader cryptocurrency market.

Overall, China's regulatory environment, market size, and developments related to the Digital Yuan all contribute to its influence on the cryptocurrency market. As a result, any news or announcements related to China's stance on cryptocurrencies are closely monitored by market participants and can cause significant market movements.

 

[btaliat]

In reality, Bitcoin is sensitive in almost all the couturies. The only issue is that it is always affected the most where we have many miners. And since China was a hub of miners before, the marker really affected it.

 

[Gamer01]

They protect their own users that is their first priority they educate them and where they think they have to make strict laws they do so that the users Or public of their country do not indulge or take part in harmful things and keeps their lives simpler indeed .

 

[Bigron]

The fact that China dominates the global economy and significantly affects financial markets is one potential explanation. Any significant changes to Chinese regulations or prohibitions on mining or trading cryptocurrencies could have an impact on the global cryptocurrency market.

 

[Gamer01]

Yes China has a big share in the world economy and is supposed to surpass the us economy very soon so it is the top choice for creating impact in any global financial market so if China supports anything the market for that will grow and else vice versa .

 

[Dean1]

Sentiment and speculative activity have an impact on the crypto market. Investors' emotional reactions to news from key players like China might cause price fluctuations to move quickly. Widespread selling may result if China's measures are perceived as damaging to the cryptocurrency industry.

 

[Medo24]

Sentiment and speculative activity have an impact on the crypto market. Investors' emotional reactions to the news from key players like China might cause price fluctuations to move quickly. Widespread selling may result if China's measures are perceived as damaging to the cryptocurrency industry.

When big giants countries like China, the US, and others make the News about cryptocurrency or Bitcoin, in particular, the market usually shifts to favor their decision because of the perceived influence traders have from these countries.

 

[ericvidman]

When big giants countries like China, the US, and others make the News about cryptocurrency or Bitcoin, in particular, the market usually shifts to favor their decision because of the perceived influence traders have from these countries.

Exactly... that's why all this world is so speculative.. it's not possible to take something for granted when there are leaders who changes of ideas like underwear.