It was comfortable for the Chinese to move to a neighbouring country to continue mining. Therefore, it is not surprising that the number of miners from China has increased in Kazakhstan. Perhaps they can go back if China removes the ban on mining. But the fact that China will remove the ban on cryptocurrencies should have a good effect on the market. I hope there will be an increase this summer because of the inflow of new money from China.
well that is correct and that was the most reason given by people here that since Kazakhstan is a near country from China so the miners migrated from the banning in that region.
now they are one of the biggest mining country in the world .
but look about the thread now and will chinese coin really pumping soon?
or this is just another pump and dump like what had happened in the past.
Good for Kazakhstan and good decision for the miners of China. They can now continue their postponed operations there. I heard lots of Chinese people migrated in other neighboring country other than Kazakhstan in order to use cryptos again.
If the rumors are true about the unbanning of crypto then yes, Chinese coins might pump along with other cryptos that we already know because this was a good news in the country of China and people are now going to start re-investing again. Dumping can still happen later on because there will be sellers who will take advantage of the recent pump. As long as the cryptos won't be banned anymore, they can recover quickly.