You are viewing a single comment's thread from:
RE: Bitcoin crashes to $3750 (-10%) while the US debt surpasses $20 trillion
If they really want to ban BTC exchanges in China - what i really doubt -, just think about the implications.
The demand is not going to reduce, the supply is going to get reduced, so the BTC price will go UP, not the other way around! Scarcity always increases the value of any item on the open market.
We will see new ATH-s this year if China is keep on banning valuable software inventions.
Anyway, setting up legal frameworks around the crypto ecosystem is great news and welcomed, as more institutional investors will have the confidence to invest in this space.
With chinese exchanges we lose a good portion of leveraged capital. So let's not underestimate them.
Ummm. What are u smoking. If the chines exchange are being removed the supply stays the same and demand is reduced. Less people buying bitcoin = less demand.
What novel economic theory says that reducing (banning) trading of bitcoin in China will drop price?
Demand stable, supply reduced.
Perhaps a short setback, but the underlying driver of demand (devaluing yuan and capital flight) doesn't go away.