Heroes of Ukraine

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

Wednesday, 22 November 04:33 (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 »
 

Bitcoin Nears $8000

Bitcoin closed the past trading week with an attempt to test the next major level – 8000 USD/BTC. In particular, the world’s first and biggest cryptocurrency has come close to the threshold on November 17th by setting a new all-time high at 7997,17 USD/BTC. However, this was a short-term attempt and the price retraced a bit shortly after setting the record.

Publication date: 19 November 09:18 AM

Masterforex-V Expo Names Best Forex Brokers for Beginners in November 2017

Sooner or later, each and every forex trader out there faces the same challenge – choosing the right forex broker. Their future performance will depend on that choice. The thing is, forex brokers may differ in a number of aspects, including the trading conditions they offer their clients.


Publication date: 06 November 04:26 AM

Bitcoin: Long-Term Prospects

Market participants, including traders, investors and regulators, have been watching cryptocurrencies getting more and more popular over the last few years. Some experts say that central banks will start regulating digital currencies at some point in the near future.

Publication date: 30 October 07:48 AM

Bitcoin Gold Crashes on the First Trading Day

 Yesterday, on October 25th, Bitcoin Gold became available for public trading. However, the first trading day turned out to be a nightmare for the founders. BTG crashed by roughly 70% over the first trading hours. According to Coinmarketcap, shortly before the launch, the exchange rate was 480 USD/BTG, but a few hours later it crashed all the way down to 157 USD/BTG.

Publication date: 26 October 12:59 AM

Bitcoin Has Got a Younger Brother – Bitcoin Gold

In October, the list of cryptocurrencies got longer thanks to a new digital currency. Bitcoin developers announced Bitcoin Gold (BTG), and they promise that mining it will be much easier than mining the conventional version of Bitcoin. So, Bitcoin is going to get another younger brother in the coming days. Actually, the corresponding fork (separating Bitcoin chains in the blockchain) was scheduled for October 26th. If everything goes right, BTG may reach the same success that Bitcoin Cash got not so long ago. For those of you who don’t know, Bitcoin Cash also came into existence as the result of forking in August 2017. Later on it became the world’s 4th biggest cryptocurrency in terms of market capitalization.

Publication date: 26 October 12:00 AM

Duckascopy Offers Most Favorable Trading Conditions to Forex Traders

Profitable forex trading has become something usual for thousands of people all over the world. Having decided to change their lives for the better one day, they started valuing the active lifestyle of daily trading while listening to those market signals. Keeping in mind all the risks and potential benefits of trading forex, they dared take their first step.

Publication date: 19 October 10:36 AM

Bitcoin Sets Another All-Time High

Bitcoin has completely recovered from September’s downtrend and is now moving higher. Moreover, the world’s first and most popular cryptocurrency has just set a new all-time high, Market Leader reports.

Publication date: 14 October 03:28 AM

Billionaire Cuban Calls Cryptocurrencies and Blockchain the Future of Financial Markets

American billionaire Mark Cuban thinks that cryptocurrencies and the blockchain technology is the future. He shared his opinion with the public during his interview with Bloomberg. He talked about Bitcoin and the development prospects for the entire industry of digital currencies.

Publication date: 10 October 10:10 PM

Miners Start Panicking as Some Cryptocurrencies Start Going Down in Value

Bitcoin is making everyone nervous again. Bitcoin miners start panicking, and the panic is driven by the news that Bitcoin Cash and some other cryptocurrencies are crashing again, Market Leader reports.

Publication date: 08 October 01:34 PM

Bitcoin Exchange Rate Retraces Before Another Rally, Expert Says

These days, new financial assets are being added to the list of forex assets. Those are highly volatile assets like cryptocurrencies, for example. Cryptocurrencies have been getting increasingly popular with international forex traders. This holds especially true for Bitcoin, which is the world’s first and most popular digital currency.

Publication date: 08 October 05:40 AM