when all the Bitcoin exchanges are closed in China by the end of Oct., all the Chinese owners of Bitcoins will be forced to sell their Bitcoins causing a massive crash in Bitcoin's price. Then, if Chinese buyers are removed from the Bitcoin market, this will hurt Bitcoin's future price, as they are the biggest block of Bitcoin buyers in the world.
Smart Chinese Bitcoin owners will exit at a higher price now, before the herd of Chinese Bitcoin owners exit at the same time causing a massive crash in Bitcoin's price towards the end of Sept., and the bigger crash towards the end of Oct. when all Bitcoin exchanges are closed in China.
If you are new to Bitcoin, the beginning of Nov. may be the bottom for Bitcoin's price given the Chinese are forced to sell their Bitcoins which could crash it down below $1000 if millions of Bitcoins are sold just before China closes all exchanges at the end of Oct. in China. This is what all Bitcoin owners are facing by the end of Oct. - a big wave of massive selling pressure will hit Bitcoin as Chinese are forced to sell by the end of Oct.
It's like the massive monthly selling pressure of Ripple insiders selling 300 million to 1 billion XRP's every month; this is above and beyond their lockup and why XRP cannot take off like Litecoin, Ethereum, and other Altcoins. Bitcoin will face such a massive selling pressure by the end of Oct. when Chinese Bitcoin owners must sell their Bitcoins before all exchanges close in China and highly likely they won't be allowed to open an account on an exchange outside of China.
Bitcoin crashing down will also cause the Altcoins to crash down again towards the end of Oct.
Don't care either way, but the above is more likely, than not. When you remove the biggest buying block of Bitcoin buyers from the Bitcoin market before the end of Oct., which are the Chinese people; this massive selling-pressure is highly likely to create a massive crash as they fight to sell millions of their Bitcoins at the same time before the deadline.
latest news say that they jumped to japans market. So we will see how china actually can ban crypto from their country. People who started to incest if not scared will find other ways to get into it I guess. :D
Check out this video:
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Will China allow them to open in Japan or anywhere? Suspect to fill the vacuum, China's Gov't will create their own Chinacoin so their people can buy and speculate on them.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
oh i guess they will. not just china... and i might see this becoming a big issue somewhere in the future. gov's trying to make all coins or tokens or ICOs illegal. But the question is, if people will believe in it. i see this all becoming a huge threat not just for banks but also governments. imagine a world where you could purchase e citizenships. i think estland is soon releasing something in that direction
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit