Quote from: Xester on October 23, 2017, 11:28:37 AM

Quote from: sydcrypt on October 23, 2017, 10:55:21 AM

BTC cannot be banned, unless internet is bannned. But the shutting down of exchanges did create a temporaary fall.. but today at this moment, the value of BTC at 6000$ approx itself has proved that china has no influence on BTC.

I have also the same presumption that the move of China to ban bitcoin will greatly influence its price. It just also happened that when China banned bitcoin, Dimon announced that bitcoin is fraud that is why its price went down. But after just a few days bitcoin came back and its price right now is relatively high. So just like what you said, China as no direct influence on bitcoin. Maybe we are just thinking that China has a large population and that it is a huge country that is why we are thinking that it would affect the bitcoin price after China banned it.

Thats correct. It will influence the price of course but it doesn't define the price. There will be a lot of dump after news like this comes out but the price usually returns to its former value in a few days.