Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Tuesday, 19 June 00:20 (GMT -05:00)

Foreign exchange market

Pavel Krymov: China’s Bitcoin Ban Is Probably All About Manipulation

Pavel Krymov, a famous expert on financial markets, urges investors to stop panicking about the news that China supposedly banned Bitcoin.




Around a week ago, international headlines cried that the People’s Bank of China had banned ICOs. For those of you who don’t know, an ICO stands for an Initial Coin Offering and has to do with crypto currencies.
Numerous experts representing international mass media only added the fuel to the fire by commenting on the news and saying that the Chinese regulator had banned cryptocurrency trading on specialized exchanges.
This led to an instant market crash. In particular, the market of cryptocurrencies saw its capitalization drop from $154 billion all the way down below $140 billion. International investors have been panicking ever since. They say, if the world’s second-biggest economy bans cryptocurrencies, maybe this is the end of the cryptocurrency era. Somehow those guys once believed that the international market of cryptocurrencies is not another forex, and there can’t be any retracement in the market, which is obviously not the case. Any financial market is subject to ups and downs.
On his official website, Pavel Krymov recommended traders and investors against panicking. He offered them to take a deep breath, calm down and look at the following things:  
1.     First of all, they say the People’s Bank of China is going to ban cryptocurrency trading on exchanges but go on with OTC trading, including buying and selling Bitcoins and other digital currencies by individuals. However, that’s not logical. The Chinese financial regulator is trying to do exactly the opposite – total control and centralization – which is easier to do when they trade currencies on exchanges rather than being involved in OTC trading.


2.     Secondly, the news made the market crash by 15-20%, while it should have been 30-40% given the scale of the event and China’s share in the global market of cryptocurrencies. This means, the world’s biggest market players are aware of the fact that the news is fake, and it’s designed to trigger a market crash and buy the assets cheap in order to resell them later when the market recovers, which is something that’s going to happen soon.
At this point, the market panic is in full swing, Market Leader reports. Bitcoin keeps on going down. At this point, Bitcoin is trading around $3953. This is 21% down relative to the all-time high set on September 2nd.
Market Leader experts share Mr. Krymov’s opinion. There is no reason to panic right now.
Earlier this year, he explained that if such a big financial regulator tried to ban cryptocurrencies, they would definitely go underground. Yet, China has a lot to lose in this case. According to the research conducted by Bloomberg, as of mid-summer, there were 65 successful ICOs completed in China. As the result of these ICOs, Chinese companies allocated around $400 million. Whatever they say, there is a shadow economy in China, and it’s really huge. Take Hong Kong as an example, where the People’s Bank of China still has no absolute power to manage the local financial and banking system.
Most probably, what we can see is the Chinese government’s attempt to take the perspective market under control. Whatever the ban is, it’s going to be canceled soon. However, the trading will be resumed with tougher conditions – specialized trading platforms approved by the government and strict regulation, with checking each and every transaction.
And one more thing. The People’s Bank of China didn’t mention specific names like Bitcoin or Ethereum. Does it mean that the existing cryptocurrencies are safe but there is no need to create new ones? Well, that remains to be seen…


You are free to discuss this article here:   forum for traders and investors


Add to blog
Got a question? – Ask it here »

Today’s Bitcoin Rate Signals Growing Risks in Banking Sector

Yesterday, the BTC exchange rate suddenly started growing, probably as a part of a recovery move against the existing downtrend. According to CoinMarketCap, the current BTC exchange rate is somewhere above 7500 USD/BTC. Over the last 24 hours, the world’s first cryptocurrency has gained some 5%, trying to recover from May’s downtrend (in case you don’t know, the coin has lost 20% since early May before starting to recover yesterday).

Publication date: 31 May 08:33 AM

Bitcoin Goes Down Before Another Rally?

The BTC exchange rate keeps on going down while being driven by a number of factors and circumstances. International experts say that the price of the world’s first and most popular cryptocurrency is currently going down just to gain some momentum later and skyrocket to new highs.

Publication date: 29 May 11:19 AM

Masterforex-V Analysts name Successful ICOs in May 2018

For those of you who don’t know, an Initial Coin Offering (ICO) is all about raising funds. To be more specific, startups sell their underlying crypto tokens in exchange for existing crypto currencies, mostly Bitcoin, Ethereum and other altcoins out there. This resembles an IPO in the stock market where investors buy a newly offered stock.

Publication date: 23 May 12:14 PM

Bitcoin Will Hit $20K, CoinShares Says

Bitcoin is really capable of getting back to the all-time high at $20K per coin. This is what founder of Coinshares Danny Masters thinks on the matter. He is not a rookie in this business. His company has been creating investment products for the cryptocurrency market and conducting blockchain-related research for years. Mr. Masters believes in the future of Bitcoin and altcoins. However, he thinks the market is yet to pass a few development stages. 

Publication date: 20 May 08:38 AM

German Stock Exchange Börse Stuttgart Welcomes Cryptocurrencies

Soon enough, maybe this fall, German stock exchange Börse Stuttgart is going to start working with cryptocurrencies. For that purpose, the exchange is expected to use its branch. Trading cryptocurrencies will be implemented through the Bison app. The expected trading turnover is around 100 billion dollars.

Publication date: 17 May 12:00 PM

Bitcoin Goes Down, Getting Closer to 8000 USD/BTC

Earlier today, the world’s first and most expensive crypto currency was going down while continuing the downtrend seen a day before. According to CoinMarketCap, the BTC exchange rate dropped below 8300USD/BTC, though it recovered a bit later on. Over the last 24 hours, the currency lost more than 5% of its dollar value. 

Publication date: 16 May 11:51 AM

Bitcoin Rallies Despite Criticism from Buffet and Gates

This trading week, Bitcoin is unlikely to conquer another major threshold located at 10000 USD/BTC. The thing is that some Bitcoin investors were cooled down by the statements made by investment guru and billionaire Warren Buffett, founder of Berkshire Hathaway, as well as by Bill Gates, founder of Microsoft and one of the richest people on the planet.

Publication date: 10 May 09:05 AM

Will Bitcoin Rate Exceed $10K This Week?

This week, the BTC exchange rate may well break above 10000 USD/BTC, most of the experts interviewed by PRIME think.

Publication date: 09 May 12:51 PM

Bitcoin Prospects Look Vague Against Altcoins

The situation in the global market of cryptocurrencies has been changing for a while. Bitcoin seems to be gradually losing its status of the world’s biggest and most popular digital currency.

Publication date: 05 May 10:53 AM

Bitcoin Exchange Rate Goes Up Rapidly, Over $9600 Already

Over the last few days, the Bitcoin exchange rate has been going up continuously. On Thursday, the rate conquered two strong levels of resistance at 9300 and 9400 dollars respectively. On Friday morning, the rate changed to 9600 dollars and continued its way up to new local highs.

Publication date: 04 May 02:08 PM