Heroes of Ukraine

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

Saturday, 24 February 17:42 (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 Exchange Rate Drops Below $9000

Earlier today, the BTC exchange rate continued its way down to new local lows. In particular, it temporarily dove below the psychological threshold of 9000 dollars per 1 BTC. According to Coinmarketcap, the current local low is 8720 USD/BTC.

Publication date: 02 February 03:41 AM

Skeptics Predict Bitcoin Crash

As the amount of Bitcoin users is growing like never before, the amount of Bitcoin skeptics is growing as well. They are warning us that Bitcoin is doomed to crash at some point in the future. There are respected investors among them, who think that the rapid growth of Bitcoin and other altcoins is dangerous to those investing in them.

Publication date: 26 January 03:51 AM

Muslims Are Forbidden to Trade and Mine Bitcoin

The Grand Mufti of Egypt Shawki Allam is reported to have issued the so-called fatwa (which means a ban on something) against cryptocurrencies. This means that Muslims can no longer trade or invest in Bitcoin or other cryptocurrencies. To be more specific, the Mufti thinks that trading cryptocurrencies is almost the same as gambling. Yet, gabling is strictly forbidden in Islam.

Publication date: 12 January 03:19 AM

Alpari’s Mobile App Gets Over 400K Users

Over the last few years, the amount of online traders using mobile apps has increased dramatically. The stats show that most of the time mobile forex traders choose mobile trading apps by Alpari, one of the biggest brokers in the international forex industry.


Publication date: 03 January 07:06 AM

Bitcoin Harms Natural Environment

 Today, only 1% of the global population is investing in cryptocurrencies.  However, mining those cryptocurrencies is something that all of us have to pay for. This is what Deutsche Welle thinks on the matter.

Publication date: 02 January 11:43 AM

Bitcoin May Trigger Another Major Financial Crisis

 Some experts say that Bitcoin and other cryptocurrencies may trigger another major financial crisis.

Publication date: 02 January 11:42 AM

Fort Financial Services ¬– World’s Best Forex Bonus Offer 2017

Masteforex-V Academy has recently announced the results of the annual contest named «World’s Best Forex Bonus Offer 2017». Fort Financial Services won the title as the forex broker occupying the first position in the corresponding rating by Masterforex-V Academy.

Publication date: 28 December 09:28 PM

Bitcoin Exchange Rate May Drop to Zero, Morgan Stanley Experts Say

Bitcoin may drop all the way down to zero dollars. This is what Morgan Stanley analysts led by James Faucette told Business Insider. Such a gloomy forecast for the world’s first and most expensive cryptocurrency to date showed up amid another major drop in its exchange rate. The thing is that Bitcoin dropped by 40% from 19K dollars all the way down to 11,8K dollars on December 22nd. 

Publication date: 26 December 12:21 PM

Bitcoin is Yet to Win Major Investors’ Trust

The first Bitcoin futures were finally launched in the USA. However, despite the fact that cryptocurrencies have already been recognized a part of the financial world, skeptics still don’t believe in them and anticipate a cryptocurrency market crash. 

Publication date: 25 December 05:49 AM

Alpari PAMM Service Gets Its Monthly Turnover Exceed $15 Billion

Most people prefer to keep their savings in a bank. They believe that despite those tiny interest rates they get paid, storing money in a bank account is way safer than anything else. The point is, we are talking about storing money while it’s wiser to invest money so that it could make even more money. For example, Europeans like to consider investing their money in various kinds of assets. They further spend their profits on some big purchases or education for their kids.

Publication date: 21 December 03:17 AM