I don't think the recent drops of Bitcoin and Altcoins are caused by the Bad news. It's caused by the news itself. The holders were just searching for a reason to sell. "Bitcoin doubled in one month". There has to be a sell off somewhere. If investors hear news that sounds bad, it's time to sell. But still now Bitcoin is holding strong. China banning CC Exchanges would be bad news. China can ban ICO's for other reasons than trying to attack CC. - There is criminality in ICO's, Scams, They could try to protect their citizens. Can they really ban Bitcoin? Its everywhere and its growing to an bigger bigger value. China can't stay at the sidelines of the blockchain looking at the bitcoin train speeding up and up.
China isnt going to kill bitcoin...they are the leading miners in the world....they are going to make a fortune off it.
@originalworks
The Chinese govt does not like crypto as it enables normal people to get round their tight capital controls. That is why they are looking at regulating it. The fact that the majority of miners are based in china is irrelevant.
True, you can't predict what will happen to cryptocurrency when it gets regulated. That could be the start of it all.
Really?
You dont think that the Chinese government couldnt stop the miners if they wanted?
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I agree.
The government isnt particularry mining?
Well more information should be coming out from China on Monday.
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