You are viewing a single comment's thread from:
RE: Bitcoin is Struggling to move up as a rumor spread over China Ban on BitCoin Exchange
The price movement is irrelevant. This is just everyone over reacting to news that may o may not be credible. EVEN IF this news was real and the ban goes through why would that make BTC less valuable? It still maintains all its functionality and positive aspects and if people in China want BTC they will find ways to get it. The only way BTC loses more value is if the other users outside of China let it. This is a market shake out and the weak hands will lose to the strong hands.
People are stopped doing selling and buying activities through bitcoin as soon as this roumer spread over in the coinmarket. Now it's became normal but it's already loss $20B.
Yes, this is true. If you are an active trader I can see why this would concern you. If you believe in crypto and its benefits over the longer term then I would not worry. Do you believe in crypto and its use case? Will people find it useful even after the China news blows over? Those are the questions you just ask yourself. Price fluctuation happens all the time in markets but what the new investor doesn't understand is that price is ultimately the result of value (not the other way around). If there is still value the price will rebound. Plus, the Chinese are very smart people. They will find a way to get BTC if they really want it.
Let me tell you one thing, trading is two different kinds, short term and long term. If you are hoping for the long term benefits then you don't need to worry about this kind of news. But they are people who are trading for short term. So they must know what is the right time to buy or sell bitcoins. As this rumor came bitcoin value dropped a bit so ultimately price became down. Trading without knowing all of these like a boat on the sea heading no where. I hope you got it. Peace out.
Yes, I recognized that point in my comment above. Peace out.