Does Bitcoin depend on China?

[Saiful123 11]

However, it does not have full control over Bitcoin. If something happens to China, you can very well assume that the price of Bitcoin will drop as well. Yes, China affects bitcoin a lotBitcoin has a huge impact on China, much of China's mining...

[Ionescu 115]

On 1/25/2020 at 3:45 AM, Crypto555 said:

China is a very big country with a very good economy and I know they have a lot of bitcoin mining power so I also think bitcoin depends on it because they control a big part of the bitcoin available 

That's right. China has a big control over bitcoin mining and transactions and that is why this country is very important for bitcoin. It doesn't entirely depend on it but it helps a lot 

[BTC Future 3946]

On 11/23/2019 at 8:44 AM, cryptosix said:

I have been hearing a lot about China is making pump and dump of Bitcoin, but does this is a real or fake? When Bitcoin raised from $7k to $10k People started to tell this is about China made legal for Bitcoin, now the price gone down to $7k. At this time news is spreading china doesn't want Crypto.

https://www.deccanherald.com/business/business-news/bitcoin-plummets-to-a-6-month-low-on-china-crackdown-778905.html

 

Guys and girls is this a real news or an prediction?

These are real news and they have an large effect on Bitcoin's price. Although the effects are always short lived and after a while they don't actually matter much. China is always coming with news on banning Bitcoin. Another time they said that blockchain is the future and Bitcoin jumped 20% in a few hours, only to see these profits diminish the next few days. Who knows perhaps they are playing the market to make a few billions.

[fatima123 320]

We know China is big player of economic of the world's that is why much whales are from China because it has most high population of the world's.That btc also depends on investment of China in this market .

[wijont 101]

Bitcoin dont rely upon china, sure we all realize that china is one of the global bitcoin pinnacle miners, however that doesnt define them to who'm manipulate the bitcoin rate, the handiest fact i know is, whales are the one who can control the bitcoin.

[newcrypto363 19]

Not dependent on China, but somehow China is very influential on the crypto market. Because if there is negative news from China about bitcoin, there will definitely be a big change to bitcoin.

[qurban 37]

I can't help suspecting that Bitcoin isn't reliant on China, yet it goes to a couple of powerful individuals from Japan, since it is as yet indistinct if there is in any way similar to Sattoshi Nakamoto or not. So it's entirely conceivable that they control bitcoin in any capacity.

[Shaza Ahmad 1682]

It is not only China that affects the cryptocurrency market, the blockchain industry is present in the whole world and every person in this world affects it, but China has a strong role in the blockchain industry as a country of multiple industries and the destination of many investors.

[khan22 3478]

On 12/18/2019 at 3:08 PM, CryptoBitCrypto said:

Why will bitcoin depends on China, it is not possible at all. Bitcoin depends on no country but on many countries. And it makes them like bitcoin in an influencing manner. So, I can say bitcoin depends on no country because it is even help in the countries than affecting them. And people are investing and trading in it because of this reason.

This is not true that the BTC is depend on the china it will not depend on it it will just depend on the investment when the peoples will invest their money in it than on that time it will go up so much and when they withdraw the value is comes down.

[hamadahajali 394]

Certainly bitcoin does not depend on China alone , but China has a very large number of traders, and if each trader buy or sell, this will affect the price of bitcoin up or down because the price of bitcoin depends on supply and demand.

[Abuarnabkhan 71]

Bitcoin don't rely upon china, yes we as a whole realize that china is one of the world bitcoin top excavators, however that doesn't characterize them to who'm control the bitcoin value, the main actuality I know is, whales are the person who can control the bitcoin.

[jacker 1095]

No, bitcoin does not depend on China. China cannot dominate or control the influence or volatility of bitcoin. Its properties can be asserted as such.

[KURTAULI 1297]

On 2/23/2020 at 10:58 PM, Lifeman said:

Bitcoin don't depends on China, bitcoin is decentralized and it has nothing to do with any country 

75% of Bitcoin's Miining data centers are located in China. If China bans bitcoin mining it will affect the crypto world. Only one bad news from China is needed and bitcoin will lose many investors

[duncun007 3577]

i think we can say that back in 2016 and 2017 bitcoin did depend highly on china because 70% of the mining farms were in china so yea they were highly responsible for lots of bitcoins in the market.

[Beromnia 733]

Welcome with me
I think that there is no impact from any country in the world on Bitcoin prices, big whales are the main player in the movement of the Bitcoin market up or down
China contains only a large number of whales

[Honny143 13612]

Previously I can't believe in this topic bitcoin depends in China, but now proves because now China suffered by corona virus and their economy also crushed, and now crypto market also crushed bitcoin and other altcoins drop their prices in few days gap, so I strongly believes China supports crypto market.

[Michael0606 861]

Bitcoin depends on traders and Investors, or large companies commonly known as whales, the country is not so crucial in this extra-financial market, although if it has fallen because several large Chinese investors were in quarantine that created panic.

[kadayakito 765]

No, bitcoin exists independently and is not influenced or influenced by China, whether bitcoin mining in China is very strong or heavily supported by China. The one that controls bitcoin is probably the whale.

[pablomarwan 3082]

Yes, it is really true because it is available on many devices and is suitable for mining Bitcoin.
I do not know the reason for announcing it to attend mining in the country, but it is considered the first leader to embrace Bitcoin, and it had a role in reaching the high price. And how popular it is.

[Saboor 511]

The truth to be told that bitcoin is decentralized and it does not depend on any country, this stands for the global and it won't be affected by only one country

[Upright 2688]

Sometimes even from this analysis of whether bitcoin gets affected from the involvement of how China activity which are related on bitcoin, but it's going to be debatable any where on our China is the bitcoin backbone

[Brand1 1336]

Yes, I think it depends on China, and we can find this out through the price, because when the epidemic was spreading in China, the price of currencies reached $ 4000 and when it recovered from this disease, the price began to rise and reached $ 6,500

[jamesvince 2389]

Bitcoin has big investors and whales grom Chinese country but it does not mean totally dependent on china because bitcoin capitalization is more then 1.20$ billion usd. It means not only one country hold this capitalization of bitcoin so china is not responsible for bitcoin pumping or dumps. 

[Saboor 511]

5 hours ago, Adarsh001 said:

No any coins dies not depend upon any countries but due to global share trading market it is possible that the value and the price rate of value is depend upon the countries so it is useful and making trading system more strong in this platform. 

Yes,, there is no coin that depends on a country,unless if it was program to react to the country progress and crisis, like china that want to own their coin, this can have effect only in china

[LeandroMesa 33]

On 11/23/2019 at 12:44 AM, cryptosix said:

I have been hearing a lot about China is making pump and dump of Bitcoin, but does this is a real or fake? When Bitcoin raised from $7k to $10k People started to tell this is about China made legal for Bitcoin, now the price gone down to $7k. At this time news is spreading china doesn't want Crypto.

https://www.deccanherald.com/business/business-news/bitcoin-plummets-to-a-6-month-low-on-china-crackdown-778905.html

 

Guys and girls is this a real news or an prediction?

Well some friends told me that China is very important to Bitcoin but it doesnt depends just from China depends of other things too, other countrys depends on the buy and sell, is a lot of things, im studying it right now so i cant give you a right answer