How does the Chinese ICO Ban affect the future of Crypto's?

in investing •  7 years ago 

Chinese ICO Ban.jpg

Government regulations! Sell, Sell, Sell!!

Or buy...

China has banned ICO's and the markets are taking a S*!^. This shift in the regulatory environment has investors scared, but is it a time to sell, hold, or buy?

I think if you have crypto's affected by this announcement, hold, because if you sell now, you're risking taking a massive loss over some minor news. Remember, it wasn't too long ago when The New York State Department of Financial Services (NYDFS) imposed strict regulations on Bitcoin companies transacting business in the State of New York and created the BitLicense, which would help protect consumers and prevent Money Laundering and Terrorist Financing.

Regulations are costly. They increase the cost of doing business for companies in this space. To many investors it seems that it defeats the purpose of a decentralized currency, but the truth is these regulations and scrutiny add legitimacy to the markets and overall blockchain ecosystem.

It's unclear which crypto's will come out on top, but if you're already invested I'd say wait it out or even buy more at a discount if you truly believe in your portfolio's long run potential. These regulations will help keep out scam ICO's and raise the barriers to entry. In the long run, blockchain and cryptocurrencies are here to stay. Don't let a bit of uncertainty scare you off just yet.

Hindsight is 20/20, and history repeats itself. We can try to predict the future or just learn from the past.

Share your thoughts in the comments. What do you think?

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Great post, nice work done !! followed and upvoted you. if you like inspirational stories, please follow me!!
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HODL. This too shall pass. Too many crypto millionaires in China. The banks want a cut, the government wants to control but crypto will prevail.

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