ICO China Ban - Coins that China Loves and Hates are Easy To Spot Today
Since 2013 often we had news of China banning Bitcoin.. then price was taking, whales buying cheap - rinse and repeat.
Now this kind of stopped working so now they banned ICOs.
This doesnt mean BTC or ETH are banned or even crypto, just making ICOs in China and for Chinese.
Yet people awaited such "news" to get things cheaper and dump. Everything went into red zone.
By checking biggest gainers and losers we can spot which coins are most beloved in China and which they dont really collect in big numbers.
Top Losers by MarketCap
Obviously coins that are mostly traded in China only lost most: HSR, BTM, GXS, WTC, BNB, QTUM, NEO.
TNT was an international ico but it had no pump yet so nothing to worry about. EOS has great place there too.
Worth nothing that smaller marketcap coins that lost a lot today are 1ST (also chinese ICO), AGRS, DGB, EXCL, ZCL, NMR, MYST.
Shortly speaking - if China gets back stronger than before, this coins will mostly likely pump the most.
Top WInners by Marketcap
This coins seem to not have too many investors in China which means they should spread their marketing - unless they believe china is dead of course. Two exceptions might be XVG and BQX who just yesterday had some good news so possibly they survived the storm. But this is just a guess.
Conclusion & Illustration
In this post i have put world upside down. Losers are actually potential future winners and the opposite. I think we should put a bit of humor on such red days. ALso remember using sites like BitMEX you can bet on SHORT (sell) and multiply Bitcoins this way.. Was one of easiest days to do so today.
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
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Bitshares DEX CNY volumes are climbing, makes sense for China to head to a decentralized exchange Big Brother can't shut down, seize, freeze or otherwise hamper. Seriously, all of China should just trade using the Bitshares exchange and there would be zero problems with governments trying to tell people what they can and can't do. Zilch, nada. DEX is the way of the future and the PRC is helping speed up the revolution. Exciting times!
thats why i try to promote DEX as much as possible
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@kingscrown Thanks for sharing. I did not consider this. I thought the Chinese were selling everything.
Check out my bitcoin analysis - https://steemit.com/bitcoin/@pairmike/bitcoin-technical-analysis-9-5-2017-china-bans-icos-bitcoin-says-so-what.
Because of china now bloodbath on market
This post received a 2% upvote from @randowhale thanks to @sumayia! For more information, click here!
Your posts are so well written and well laid out. I've always wanted to know more about crypto and how it all works, and I can safely say that YOUR posts are bookmark worthy.
I'm learning so much and it's all thanks to you Sir. Please continue because there is at least ONE person (me) whom you are helping very much.
& for that, I thank you !
I'm upvoting this
Great post . I like this Ban cause we have enough coins that can be used for the future.
This should not be the reason currently to like this ban (because we have enough coins). It is good because scammers will have it much harder to do ICO´s in China. Currently there are a lot of scammers.
현재 많은 사기꾼 때문에 중국이 이렇게 하는 것이 아닐까요??
Banned everywhere, it's a sign they recognize the value of crypto currency and it's time to pay up.
Follow me @Yehey
Thank you.
i agree this ico market need to calm down a bit, let's see how many use this as a exit
It's no wonder you wear the Kings Crown.
Info like this is great to have and you keep posting it.
Thank you for just being!
@kingscrown do you ever upvote any comments on your blog? Seems you're really interested in pumping out articles daily but not so much in showing appreciation to your commenters.
I think the news has made people overreact.
Yeah, people definitely overreacted to this news. Not only in China, but in the states as well. Oh well, for a short time, everything was on sale. It was great!
well most prices are even lower than they were directly after the sale of that bad news. Got a TA expert friend who's been doing it for many years who fears that Bitcoin is showing long term signals of a bear market.
Great post, explained the issue very well.
I like how USDT is rising even though it is supposed to have a fixed value xD
NEO does ICO's but it's not the main part of what they do from what I understand.
what is the main part of NEO ?
I heard in an interview someone say that they are principally a smart contract platform.
yeah it is the same thing like ethereum, qtum and soon EOS.