China Ban Aftermath: Why The Crypto Downtrend Could End On New Year’s Eve
Is the China ban to blame for the recent Bitcoin sell-offs that brought down the whole crypto market? That is the prevalent theory. As the main exchanges close their operations in mainland China, the citizens have been fearfully selling their assets. They don’t know if they’re going to be able to transact or even sell their cryptocurrencies in the future, so they’re going back to the Yuan. And we have charts from Arcane Research and a carrot to prove that. Related Reading | Is This The Reason China Banned Bitcoin Mining? Carvalho’s Mind Blowing Theory Let’s stop wasting time and go....
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Digital currency markets have climbed significantly in value all year long, despite the gloomy global economy and the aftermath of Covid-19 responses. Bitcoin prices have been hovering at values not seen since 2017, and the top crypto asset in terms of market cap has gained a whopping 159% since January 5, 2020. In fact, many crypto assets have seen spectacular 12-month returns, and the following editorial is a look at the top crypto gainers and the biggest losers in 2020. This year has been a crazy one, to say the least, and while many global economies worldwide shudder, the crypto....
In the aftermath of restrictions from the People’s Bank, many outsiders are wondering what it’s like to use Bitcoin in China now. The atmosphere in China at present is extremely hostile for many aspects of Bitcoin. Exchanges are notably feeling pressure, with some even closing in light of banking authorities recently ‘reaffirming’ their stance towards cryptocurrency, one which could be called ‘critical’ at best. However, beneath the surface lies a somewhat different scene, set apart from the turmoil of the legislation. For consumers, it is definitely fair to say that “Bitcoin is not dead....
Leon Li, CEO of China's leading bitcoin exchange Huobi, recently recalled how China's central bank ban sent shockwaves through the bitcoin world at a meet-up in Garage Café, Beijing. Addressing an audience of around 300 people, Li (also known in China as Li Lin) recounted how his site's trading volume spiked so rapidly on the night of 16th December that the visiting traffic easily maxed out the exchange's servers. Even though Li and his colleagues pulled two all-nighters to process the large amount of requests for cash withdrawals, rumours abounded that Li was a scammer who had already run....
The implosion of the world economy continues in the aftermath of 2016 and so does the upward climb of Bitcoin. Cashing on the previous year’s upward momentum, Bitcoin has already managed to hit $1000 mark, one day into the new year. As the repercussions of the events of 2016 will be felt this year and in the future, it is not incorrect to predict bitcoin’s continued importance. The events like Brexit, Chinese Yuan devaluation etc were landmark because they were symptomatic of the general malaise in the world economy. The implosion of the world economy continues in the aftermath of 2016 and....
The crypto market is now witnessing a significant resurgence this year, with the number of new tokens listed on major exchanges surpassing last year’s total within just the first six months. According to a Bloomberg report citing data analysis from CCData, crypto listings surged 11.6% across major platforms like Binance and Bybit, bringing the total […]