China - The epicenter of Bitcoin

[Goyaa 2414]

I don't think China is the main epicenter of bitcoin, bitcoin price went up when China had a pandemic in January. In that month the price of bitcoin started to rise little by little until February, when in early March the price of bitcoin fell slightly, maybe because of the pandemic that was spreading all over the world, but the price of bitcoin has risen again in May to December now.

[RoyalHouse01 9]

It was not only chaina but the outbreak was in many other countries too when the btc crashed and it is sure that the chaina is far above in technology than many other countries.

[hasaan 289]

Its true that the China is the epicenter of the btc, we all know that the Russia is the most  leading who are the most influence the market as well. There should be a center for everything but the crypto is decentralize. 

[mahdititus16 216]

i think that is hard question but i have the naswer brother , china the epicenter of bitcoin  do not think that but ther is something , Not only the Pandemic but one coin scam was Also responsible for the price dump and as you know the miners in china are mining and providing big percentage over total supply the price was supposed to be increase as supply was decreased but in my view one coin scam is the one because of which price drops.

so i hope i answer to your question brother , good luck for you .

[annayks 2314]

What really happened was that bitcoin crashed once a lockdown in America was announced. The stock markets also crashed 20% and Bitcoin 50%. The China covid virus was the cause but China didn't create problems or saved the price of Bitcoin. There were cities under lockdown in China for two months and price of Bitcoin was rising.

[Amna Hareem 1213]

On 4/15/2020 at 10:51 AM, Dmasked said:

Few weeks ago when the price of bitcoin crashed hard to around $4000 i noticed something unusual. It was the time when China was the epicenter of Corona virus outbreak and at the same time the price of bitcoin came crashing down. Bitcoin and all other crypto currencies are supposed to be a decentralized currency but somehow bitcoin seems to be centralized to China to some extent.

 

Maybe it is because of large number of Bitcoin miners in China but I never expected that one single country would affect the price to this extent. When the situation in China was under control the price recovered again. It seems like China has high influence over these digital assets and its not something I like.

 

The situation in china is now under control and improving but the outbreak has traveled to other major powers around the world like USA, Germany, Spain, France and other global giants. Their situation is far worse than it was ever in China but some how it has not affected the price of bitcoin too much. The whole global economy is degrading by the day but the prices are actually recovering along with China. It seems to like China has high influence over Bitcoin which it shouldnot have. 

 

 

Dear you are right when we pass through this difficult situation we had also faced many problems and one of them is shortage of money and also Bitcoin goes so down but now all right and covered no Bitcoin is about $29,000 and it is still increasing so so no it is very profitable for all of us.

[teebasas 3018]

You are right. China has greater influence over bitcoin, as the price has decreased very significantly when the virus spread inside China greatly, and we have all noticed that the price recovered when China recovers from the virus.

[Pereira 2303]

What I really see to a large extent that china has the maximum technology and continues to play a fundamental role in the crypto world, the first thing that you see in cryptocurrencies is the improvements in cryptocurrencies from china and there may be many crypto miners in china This is why I say that China has the maximum amount of influence in the crypto world.

[Dissy sb 945]

My friend I want to tell you that the market of the China na is more active for the trading of Bitcoin and their investing more money in the trade of Bitcoin that's why the price is going high in the market of Bitcoin

[basel23 1722]

Bitcoin is a decentralized currency for sure, but the Corona virus has negatively affected the global economy in general, and Bitcoin was able to recover from this crisis after several weeks.

[kion 381]

Well, I have not been following the update since the Corona pandemic outbreak emerges, but as you said, probably the reason why China alone can have a very big impact on the cryptocurrecy world is because many investor and miners are from that part of the world, and if that is true, then definitely China alone can control the price of cryptocurrecy.

[Ameralsamt 2558]

Yes, my friend, you are really right, we must respect China, it is a country that works in Bitcoin very much, and they trade in it they are really wonderful, thank you for this wonderful and useful participation of course you are a wonderful person and deserve us respect. 

[Dadouasaad123 902]

Certainly, Bitcoin is a decentralized currency, but the Corona epidemic has spread throughout the world, and this has a negative impact on Bitcoin, and due to the presence of many miners in China, the mining rate has decreased, so bitcoin and cryptocurrencies have been affected by the Corona virus.

[Mohmad22 695]

My dear friend, you are right that the Bitcoin currency is closely related to China because China is a large trading country and the population of China is greater than the population of the world combined. For this reason, the circulation of the currency in China has decreased, which has led to a decrease in its price