Fundamental data still show a continuation of the bull market, Bobby Lee says No panic regulation
Fundamental data still show a continuation of the bull market, Bobby Lee says No panic regulation
The People’s Bank of China (PBOC), the country's central bank, published a question-and-answer round on its website, in which it was said that Chinese citizens who take part in a virtual currency exchange abroad are “considered illegal financial activities”. The PBOC also repeated her comments made in the past, in which it was emphasized that "financial institutions and non-bank payment institutes" could not process crypto payments.
China's central bank shakes cryptoma markets
The cryptocurrency economy vomited on September 24, after China's central bank said again that decentralized virtual currencies were not welcome in the country. The PBOC says such things since 2013 and four years later banned it in Germany in Germany. In 2021, when the crypto economy achieved a new value, the Chinese government against Bitcoin-Miner with hard interference in the country. This led to the global hashrates of Bitcoin Lot A lot and many Chinese Miner moved to other regions.
In today's China messages, the PBOC publishes detailed questions and answers with apparently mostly old news. This was taken up by people such as Bloomberg, who radiated it incredibly as "the toughest blow against the trillion dollar industry". https://t.co/c3cw0qaenn
- Alex Krüger (@Krugermacro)
Bleiben Sie informiert: Jeden Abend senden wir Ihnen die Artikel des Tages aus der Kategorie Krypto news – übersichtlich als Liste.
Now China's central bank warns the citizens of “illegal” behavior when it comes to using cryptocurrencies. The PBOC has posted a question and answer on the website of the central bank that explains that virtual Change of money that offers services for domestic residents are illegal and are examined. "Overseas virtual wallets that use the Internet to offer domestic residents also include illegal financial activities", A rough translation noted. The translation also states that employees who work for this international exchange are examined. The PBOC further added:
Financial institutes and non-bank payment institutes cannot offer services for activities and operations in connection with virtual currencies.
China's seventh warning: “Onchain foundal data still indicate that a continuation of the bull market is likely in the fourth quarter”
In the meantime, the crypto economy was in front of the news from China in the middle of the relaxation of the last downward movement after the first fear of Evergrand. In a note sent to Bitcoin.com News, the executive director of the hedge fund for crypto/digital assets ark36 , Ulrik K. Lykke, that this was that this is Chinese government acts against Bitcoin.
"Once again the Chinese government has taken up hard against Bitcoin. Since 2013, she has done this at least seven times - and already twice this year," emphasized Lykke. "While this happens every time, the markets react with a drop in prices, but every time the effect is smaller and short-lived. The story" China prohibits Bitcoin "has almost achieved a meme-like status in the Bitcoin community. Investors should make sure not to make emotional decisions based on these trend messages, since the Onchain foundal data still indicate that a continuation of the bull market is likely in the fourth quarter. ”
Now all poor people will panic
rich will buy it
Then the value will rapid up again and the poor people hold the bag https://t.co/7oktgpuggdd
- Tim Pool (@Timcast) 24. September 2021
ballet founder Bobby Lee: "Not the last nail in the coffin"
Bobby Lee, The founder of one of the first Bitcoin exchanges of China and the Calts storage card company company company Ballet said that the PBOC warning from China is not the end. "Don't panic: China has just banned Bitcoin again. This time the ban on the trade in offshore exchanges (with VPN) and the use of local agents or OTC services for the exchange of Cny after and from. AB usdt . href = "https://twitter.com/bobbyClee/status/141349127632154638?s=20" Rel = "noopener"> noticed on Twitter.
If my friends ask me about the China ban, I can only say: "Ah, that happens all the time"
- Neraj K. Agrawal (@Nenajka) 24. September 2021
George Zarya, CEO at Digital Asset Prime Brokerage and Exchange Bacant also discussed the topic on Friday with bitcoin.com News. "China is known to go to the utmost with very assertive explanations and law enforcement to complete the radio silence," Zarya told Bitcoin.com-NewSdesk.
“This time it was made very clear that China will not support the development of the cryptocurrency market, since this violates his policy of tightening control over the flow of capital and Big Tech. Not much will change for the institutional crypto industry, since those who could go and those who have neither have been closed nor have been under the radar. The retail market is most likely under the radar and will continue to support the market volume, ”added the conversion manager.
What do you think of China's latest statements about Bitcoin and the virtual currency exchange? Let us know your opinion on this topic in the comments below.
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