in the last weeks Chinese based newswith on the riseof the crypto market rallybeginning ChineseCan it come from?
SPECIAL NEWS/YAGIZ İŞBIRAKMAZ With the effect of China-based news, serious rises continue in the crypto money market. China has attracted attention with the sanctions it has implemented in the crypto sector in 2021. In the first months of 2023 Chinese– Crypto connection is seriously on the agenda. Especially since the crypto market has been on the rise lately. Chinese based positive newsLet’s say it was triggered. ChinesePositive news about crypto from of the rally wick can fire mi ?
Processes of Connection Between China and Crypto Industry
Chinese, in the light of the reports it published, did not define cryptocurrencies as a legal payment tool. Chinesebased banking systems did not approve cryptocurrencies and did not provide services related to cryptocurrencies.
When we come to 2013 Chinese government defined Bitcoin (BTC) as a virtual commodity. Stating that there is no problem in BTC trading for crypto investors, Chinese was approving commercial transactions regarding BTC. But later Chinese Centre baseAnd Chinese based financial controllershas imposed a ban on BTC-related activities for banks and financial firms.
By 2017 Chinesewith the aim of protecting investors and reducing financial risks. Digital Money your supply ” banned. Digital Currency Supply means the interconversion of traditional currencies and cryptocurrencies. ChineseIncreasing sanctions on the crypto sector have started to cause concern among investors. ChineseThe ongoing tension between the crypto industry and the crypto industry has damaged many trading platforms, causing them to close and relocate to other countries.
Chinese– CryptoAs the tension process progresses, Chinese The sanctions that came from one side became more and more severe. Bringing greater hurdles to finance and payments companies Chineseannounced that it is banning basic activities such as registration, transaction cycles for digital currencies.
in 2018 Chinese Centre basepublished reports on virtual trading platforms. Chinese Centre baseIn line with the reports published by , until July 2018 88unit virtual trade of the platformAnd 85 digital your marketHe said he was withdrawing from the industry.
The Beginning of the Sino-Crypto War
In 2021, there was a significant development regarding crypto. In fact, this development left its mark on the global economy markets. Chinese Centre baseIn a statement made on its website, it announced that all transactions related to cryptocurrencies are prohibited, and illegal financial actions related to cryptocurrencies will be punished.
Chinese Centre base Banning crypto activities has been described as one of the biggest coups in crypto history. Moreover Chinese, including BTC and USDT no crypto- money of the unit does not have validity reported. He emphasized that the transactions to be carried out by banks operating in China regarding cryptocurrencies are illegal.
How Has The War Between China And Crypto Affected The Markets?
Chinese Centre baseWith these bans brought by . Chinese On the back of negative statements, there were sharp decreases in cryptocurrencies. BTC, the leader of the crypto industry, fud your newsincreasing and ChineseIt suffered a major collapse in September of 2021 after the ban decision.
While BTC continued its upward momentum, it started to lose buyers in line with the Fud news. ChineseAfter the sanction from , BTC price 52,600 from dollars 39. 700 dollaruntil you level droptook place. BTC As the price collapsed, hard sales were observed in many altcoins. Moreover ChineseThe escalation of centered sanctions, the crypto community Chinese He changed his perspective towards . Crypto with the process of the investors the majoritydefying China’s sanctions industry to the defense continue did.
China Has A Big Role In The Rise Of The Crypto Market In The Recent Weeks
BTC, 15. 500In recent days, with the support from the dollar level, 25. 250 tested the dollar level. With the activity in the crypto market, the sector is gradually reviving. It has become the trend topic of recent weeks. Chinese Based Improvements“The market positive in the progressbig role.
Increasing in recent days Chinese based positive improvementshas become one of the main factors driving the rise of crypto. CoinMarketCapIn the light of data from , the cryptocurrencies that have increased the most recently have been based in China.
In a month percentage 900‘ to much increase showingseems to be cryptocurrencies.
Crypto investors close their eyes ChineseHe’s planted it. Chinese basedcryptocurrencies, Chinese based Cryptocurrency exchanges and other Chinese-related technologies have created a huge frenzy. In line with the data received from CoinMarketCap, Chinese sidedVolumes on cryptocurrency exchanges have skyrocketed, with exchanges’ stablecoins increasingly priced.
Chinesebased HuobiWhen the volume data of the stock market is examined, it has been recently big riseit seems to be happening;
The rises on the side of China have attracted the attention of crypto investors. In the past, it has made a name for itself with crypto bans. Chinese governmentFor now, it has been the pioneer of cryptocurrencies.
Well, a possible rallythe beginning Can China trigger it?
On the subject we Oytun Es, founder of Crypto Teknik We asked some questions to . Stating that China’s relationship with cryptocurrencies has always been ups and downs, Es pointed out that we have seen as much sharp declines as we have seen sharp rises from China in the crypto money market before. According to Es, the process we are going through puts us under the influence of a positive wind coming from China again. In fact, not so much a year ago, we were talking about China’s expulsion of Bitcoin miners from the country. Stating that he attributed this aggressive attitude of China to the issue of its own digital currency during that time, Es said, “The state that issues every digital currency in the world first tries to intervene negatively in the Bitcoin and crypto money market. Although the two are in different lanes, states approach it a little differently. Now, we hear embracing news about cryptocurrencies on the side of Hong Kong and China. Here, the effect of the USA’s being passive about cryptocurrencies is great. In 2023, it seems that China will have a big impact on the crypto world. Naturally, this will directly reflect on both the prices of cryptocurrencies and especially the prices of Chinese altcoins,” he said.
One of the important names in the blockchain ecosystem, Turan Hard , had recently published an article on BTCHaber.com, where he evaluated the US view on crypto. Based on this article, we asked Sert whether this interest from China is related to the US side.
Turan Sert started his answer by saying, “There are such negative/positive changes in Asia from time to time”. He cited China’s frequent bans on cryptocurrencies as an example. Saying, “We can look at the actions of the USA as an effort to secure the backs of the institutions due to the legal gap, the actions are always directed towards the central institutions”, Sert says, and he thinks that adequate supervision of the central institutions will pave the way for the sector. At the same time, he underlines that the USA is ahead in innovation and innovation.
Positive News About Crypto Keeps Coming From China!
One of the biggest news of recent times, hong Kongto cryptocurrency trading licenceThe news that he is planning to release the news fell like a bomb on the crypto market agenda.
on February 20 hong Kong Investors’ attention has been drawn to the possibility of . In the light of unfolding events Chineseone of the largest crypto exchanges in Huobi, hong KongTo allow crypto trading in licence in his application that there isannounced.
GateTR: Compliance with Regulations Will Continue
Recently hong Kong Movable assetsand Futures Commission ( SFC), took the first step into crypto trading activities individually. SFC, in line with this step, with Virtual Asset Service Providers ( VASP ) initiated the negotiation process. On the other hand, just like Huobi, another news Gate.io came from Company, hong Kongbased new company Gate HK announced that it has applied for a crypto license for One of the prominent exchanges in terms of trading volume and popularity Gate.io, hong Kongbased hippo financial Services limitedby completing the application steps TSCP Licenseentitled to receive.
Gate.ioGate HK, the new establishment of ‘s, is planned to start operating after the license application process.
We talked to Gate.io’s Turkey operation regarding the issue. GateTR Turkey Manager Kafkas Sönmez He pointed out that the priority of the company is to provide services in accordance with all regulations in all countries and to ensure the security of our user assets. At this point, ensuring that a compensation is arranged in order to meet the risks for the assets in the cold wallets in the regulation published by the SFC is among them. This is important for the protection of user assets.
We said that 2023 started positively for the crypto market. Positive news from the Central Asian region continues to support the market. At this point, according to Sönmez, the future positive news will also positively affect the market direction, considering the economic developments on the global side, the interest rate decisions to be taken by the SEC and the great interest in crypto assets in Central Asia. 2023 will continue to be a year in which the expansion policy is seen more active for Gate.io and the integration process will be activated quickly as the regulations become active in all the countries served.
Sonmez concluded her words as follows:
At this point, 2023 will be a year in which Gate.io complies with all regulatory elements and maximizes user security in which it acts in partnership with relevant authorities.
Chinese sided positive your newsThe cryptocurrency market, which has priced upwards even before its arrival, hong KongWith the big development from , crypto market cap tested its recent peak.
Positive News from China and Progress of the Crypto Market
In recent weeks, the crypto money market has started to make a name for itself by coming to the fore again. The rapidly increasing BTC price became the lifeblood of the crypto market. BTC, with the listing of many events such as the FTX crisis in the past period, 15. 500 dollarlevels had dropped.
With the overlapping of BTC’s crises, investors were worried. When we come to 2023, it is observed that the interest in the crypto sector has revived with the decrease in Fud news and the developments based in China. Especially the sharp rises in China-based cryptocurrencies and ChineseIncredible volume increases in cryptocurrency exchanges path demonstrator it could be.
BTC When we look at the current situation on the side, we see that crypto investors have started to get hungry, especially in recent days, and they have turned their eyes to the crypto sector. The price settled above the $24,000 level. BTCbuilding trust with investors market its value to raise continue doing.
Could the Upward Exit of the Crypto Market Come Thanks to China?
Analyzing the chart analysis of BTC for the weekly time frame, four times not exceeded and big seller encountered 25. 250 dollar level, a possible positive development from China could break this solid resistance. A major contributor to the rise of the cryptocurrency market Chinese sided improvements, the approximate price of BTC 25. 000 dollarbecame one of the main factors in its success.
Important resistance point blocking BTC rise 25. 250 In order to exceed the dollar level, positive and big news about the crypto sector may be required. Considering the previous processes, the importance of news flow was directly apparent in BTC’s overcoming important resistance points. Resistance levels that seemed difficult to overcome in cryptocurrencies for the previous period Tesla, mining activities approval, Hand Salvador‘Fame BTCto acceptance to doIt was overcome with many big positive news such as, and new peaks were observed in the BTC price.
With the importance of the news feed coming to the fore at solid support/resistance levels, big news that will trigger the crypto market to the upside may come from China. First of all, in BTC price 25. 250 exceeding the dollar level is of great importance. In an upside scenario for the price, first 26. 600 dollar level can be observed. In line with the news flow, respectively, 30. 000 dollar– 41. 000dollar levels can be expected for BTC.
