China achieved the goal: it drives crypto market!

2019-11-26 10:44

The monstrous volatility of bitcoin in recent weeks has forced the community to look for reasons why cryptocurrencies are so volatile. New explanation: China is to blame!

Indeed, the statement by the Chairman of China Xi Jinping about supporting crypto projects caused a significant growth of the market in late October. And the recent reminder of the People’s Bank of China that cryptocurrency trading in the Middle Kingdom is forbidden – led to the significant drop. The rise of crypto after the announcement of support for blockchains in China is a consequence of how the opinion of Comrade Xi was interpreted by analysts. Analysts reasonably suggested: if China supports blockchain, then it supports Bitcoin and Ethereum. In addition, it became known that educational courses on leading cryptocurrencies are being prepared in China. But all the positives are crashed by the statement of the People’s Bank of China. It stated:

ICO, IFO, IEO, STO are all unauthorized illegal public offering and securities issuance, and potentially illegal fund-raising, financial fraud, pyramid schemes and other illegal crimes. [They will] further regulate trading platform whose servers are outside mainland but providing virtual currency trading services to domestic residents, and will continue to strengthen the clean-up [of] the fiat payment and settlement channels and gateways. Investors should be careful not to mix blockchain technology with cryptocurrency, and there are multiple risks in cryptocurrency financing, issuance and trading.

However, the People’s Bank of China has not issued an explicit rebuttal of rumors that the bank is developing its own blockchain platform for the national state cryptocurrency. The head of the Binance exchange, Chinese Changpeng Zhao, previously noted that all the talk about blockchain without cryptocurrencies is fake. A decentralized network cannot exist reliably without a token reward system.

Perhaps the Chinese Central Bank has not yet realized this and want to make sure. Or perhaps they just test the effect of verbal interventions on the cryptocurrency market. Obviously, you do not need to interpret China – you just need to listen it carefully. This will help not to lose your crypto money.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0.0095806 (+7.58%)
Объем 24H $0
Изменеия 24h: 2.35 %, 7d: -7.78 %
Cегодня L: $0.0086651 - H: $0.0095806
Капитализация $183.154k Rank 1690
Цена в час новости $ 0.0413084 (-76.81%)

china market recent crypto chairman jinping blame

Источник: coinstelegram.com

china market → Результатов: 126


СМИ: В мае китайские чиновники получат цифровую валюту центрального банка

Национальная цифровая валюта Китая будет выдана сотрудникам местных органов власти в городе Сучжоу в мае. Об этом сообщило местное новостное издание China Star Market в четверг, 16 апреля. Ссылаясь на официальный документ, China Star Market сообщает, что местные чиновники получат 50% своих майских транспортных субсидий в цифровой валюте.

2020-4-16 12:14


Are Chinese Blockchain Venture Capital Firms Back In The Crypto Game?

Most Chinese blockchain-focused venture capital firms deserted the market following the crypto crash of 2018. A large majority are set to return as blockchain adoption in China booms. Chinese blockchain venture capital firms are set for a resurgence, that will help make up for the tragedies of last year’s crypto crash. This comes after the […]

2019-11-5 01:01


China Bullish On Blockchain: Bitcoin Price Explodes In Happy Lucky Coincidence

The cryptocurrency market recovered dramatically today, as news from China sinks in that digital currencies are here to stay and Bitcoin soared by over $1,000.   News from China may be the cause As reported by Xinhua and translated by Cointelegraph, China’s General Secretary Xi Jinping issued a statement at a Politburo session regarding blockchain […] The post China Bullish On Blockchain: Bitcoin Price Explodes In Happy Lucky Coincidence appeared first on Crypto Briefing.

2019-10-26 19:13


17 Trillion Reasons to Own Bitcoin, Starting with the Elephant in the Finance Market

According to the Bank for International Settlements report, the growing acceptance of negative interest rates has reached “vaguely troubling” levels. Investors have been now paying for the privilege of lending, support for which came from the top central banks including the US Federal Reserve, the ECB, and China’s PBOC that has the amount of bonds […]

2019-10-18 22:21


Dow Soars as Trump Dangles Deal to Distract from Giuliani Scandal

The Dow Jones continues to drive higher, rallying strongly as Donald Trump and China prime markets for a possible trade deal between the two nations. The stock market bounced aggressively on the news that Trump and Chinese Vice Premier Liu He will meet tomorrow in the White House as the “surprise” teased by Larry Kudlow […] The post Dow Soars as Trump Dangles Deal to Distract from Giuliani Scandal appeared first on CCN.com

2019-10-13 22:14


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

India does not want to lag behind China in blockchain

The Government of India has announced a framework to support the development and integration of blockchain technology (The National Level Blockchain Framework). Blockchain will be used in several sectors of the Indian economy.

Digital Yuan Will Be Launched on Blockchain – CZ

Head of Binance Changpeng “CZ” Zhao is the main crypto space newsmaker this year. Now he has made another statement at BlockShow Asia 2019 in Singapore. Rumors that Chinese government will launch cryptocurrency have been circulating since the spring of this year.

US-China crypto war benefits crypto industry – CZ

In his new AMA at Periscope, CEO Binance Changpeng Zhao (CZ) stated that the ongoing cryptocurrency war for leadership between the US and China is clearly benefiting the market and strengthening it. Coinstelegram was one of the first to note a new trend – the transfer of the US-China trade war to the cryptosphere. While […]

The Xi Effect – Chinese Government to Fund Blockchain Projects

Chinese President Xi Jinping’s announcement that the country would invest heavily in blockchain technology – coupled with a sweeping move to remove online posts suggesting such technology is a scam – has nourished optimism long-held by crypto advocates.

What was that? G20 almost set the trend reversal

The sudden collapse of the entire market and bitcoin to almost $ 10K has generated great excitement in crypto community. Those who did not enter the Corn, tensed in anticipation of the possibility of purchasing BTC at lows.