MY VIEW OF THE POSSIBLE RETURN OF CRYPTOCURRENCY TO THE LAND OF THE RED DRAGON... CHINA

melip (61)in #cryptocurrency • 7 years ago (edited)

Since my incursion to blockchain and cryptocurrency about seven months ago, my priority is not only to invite people to this side of the system but also to let them know at what stage is the whole movement of blockchain technology is right now; and until right now, I considered all this movement to be in just the beginning of it, in the sprouting stage
When I heard that China dared to ban cryptocurrencies and cryptocurrency exchanges two months ago, I decided to keep my opinion to my self but at the same time, I started to see the big red door opening to allow what it will be a global adoption of not only blockchain technology but for cryptocurrency in general.

One of the most powerful nations in the world placed the cards on the world scenario, the people called it, China bluffed and now it's almost game over.
The announcement of the China ban brought the cryptocurrency market from approximately $180 Billion to just above $100 billion in less than two weeks. Many people lost lots of money as well as many people made tons of money; this is what China didn't think about, the movement that blockchain technology brings within has empowered people from all over the world, and they all just showed up to prove that with or without China, cryptocurrency goes on.

Other countries of less importance have dared to follow into China's steps by threatening to ban cryptocurrencies. To that, the community has answered by bringing the total market cap to almost $180 Billion again, making Bitcoin the King of cryptos with almost 55% of the entire market capitalization.

What coins should we keep our eyes for when China lifts the ban on cryptocurrency exchanges?
Consider the 50% that NEO lost after the ban. The 60% from QTUM; the 50% from OMG, the 75% from HShares and 35% loss of capital from Bitcoin Cash.
The new capital that came to the market, is from fortune chasers looking to increase their capital by taking advantage of the Bitcoin Forks but we are still missing the almost $50 billion dollars that flew away after the China ban. Take a guess to where those funds will return to.

Although many other coins and tokens suffered loss of capital after the China ban, the ones mentioned above suffered the most and they are about to make a great comeback, right after China decides to announce that the ban on cryptocurrencies didn't go the way hey planned it.
China is about to show the world how important and how serious this new economy is and best of all, the undeniable truth there is that "when people speak, governments should shut up and fulfill the people's will"
Because of China, I now can stop saying that this is not even the beginning of the CRYPTO-ECONOMY because China is about to make its beginning official.

The new CRYPTO-ECONOMY is the way of the future, the will of the people, and the Red Dragon will lead the way to its future without even knowing it. For that, the crypto-community should give China a standing ovation as a sign of gratitude because, without their ban on cryptocurrencies, it would've taken longer for the people to discover how powerful we are when we stand together and claim what has always belonged to us; our right to be free and independent, and to the Person to Person (P2P) right to trade without the costly government intervention.

Be ready for the Chinese investments, do your own due diligence. Invest wisely and don't forget; share the information and share the wealth.