Bitcoin and China - What They Don't Get RightsteemCreated with Sketch.

in bitcoin •  7 years ago 

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So many news places are making such a huge deal about bitcoin markets in China right now saying they might not reopen etc. Well that is just a bunch of fluff people! I actually bought on this dip it always makes for some crazy buying ops.

I am here to tell you that all of these exchanges are making this clear that China Exchanges are operating normally and they have not received any new directives from Chinese regulators.

What is happening though is they are banning any exchanges that offer bitcoin to ICOs as this has been outlawed. I go over my opinions on that here - More Crack Downs On ICOs - Thank Goodness

As you can see my clear view on this is Bitcoin is strong and will now be stronger then ever as all these junk unworthy alt coins that offered nothing new of value to the block chain community get crushed and instead that money filters into proven coins where it belongs such as Bitcoin, Ethereum, litecoin etc.

To me this is the perfect time to buy up bitcoin and others for the long run if you believe these crypto currencies will take off when an ETF or some type of injection of cash comes into them from bullion or stocks.

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Good work @bitcoinflood am often impressed the way you often update our views and increase our confidence in crypto world and giving us reasons to be assured. Its impressive. Also your write up made it clear to us as regards the stand of Chain government policy. please keep it up.

It seems like people read a headline and then instantly go to worst case or just make up their own stories and it turns into a big mess lol. As soon as the news came out we saw a major crash. We seem to be balancing out now. Just goes to show you that stock and crypto are heavily effected by speculation and news no matter what it might be. We are rolling into the weekend as well which 9 out of 10 times seems to be a bit of sell off instead of a pump. I expect Sunday or further into this next week we start to build that market cap again.

The crackdown is good as it helps secure investors money. So they don't get scammed of their hard earned money

Yup I see it as a positive thing via my other post above

Just bought more.

Ah dude thank you for putting everything into order, I thought for a moment the shit's going to hit the fan

posting very good information. thanks for sharing. success always for you

Wow

Its getting so much fuss in last one year. Perception and invention of news is catapulting alt coins.

For sure, don't buy into the static, just buy...

nice

nice post @bitcoinflood

They are purposely doing this to get cheaper coins. Play the game with them probably...Short and buy the dip! Sweet time right now actually to buy back atleast for me.

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good !!

@Bitcoinflood Great piece thanks for the info

I am not a huge fan of government regulation, but it did help me dollar cost average a bit😃

Since China banned cryptocurrency, what does this mean for the future of Alt coins?

Good article @bitcoinflood.