Post
Topic
Board Press
Re: [2018-02-05] China to Ban & Block Foreign Cryptocurrency Trading Platforms, ICOs
by
BellaBitBit
on 05/02/2018, 15:04:40 UTC
They seem to be trying to take advantage of the recent FUD in the crypto market, and from a "crypto hater" point of view, this is the best time for them to release those news. No wonder bitcoin price is falling deeply, since every week we see some ban or tight regulation news all over the place. Some are true, others not so much, but it's definitely being a great way to keep the price down, and generate some panic sell.

I wouldn't be surprised if we see some news related to China banning mining as well, but I guess that miners are already preparing to move abroad for a while now, so although it will generate more FUD if it ever comes true, I don't think it will have major implications to the technology and the network itself.
From an investors point of view, this is the thing I always ask myself when I see FUD news. How does this affect bitcoin development? Normally it doesn't and that's why I keep holding.

The good news are, that they will run out of FUD news eventually, and after that we will probably see LN coming up, and it will be hard to stop BTC by then.

Totally agree with all of the above.  My first thought is they are enhancing the dip they know is coming from the chart to buy more and keep their people from taking profits, they certainly cannot like their citizens becoming independently wealthy outside of their financial system. I personally am enjoying this downward motion on alts and btc.  The bitcoin community has been through many bans and those that believe will remain calm.