Under the assumptions of the publication Сointelegraph, now is the most suitable time for buying bitcoins. Excessive panic of the crypto community over the ban of ICO and crypto-exchange exchanges in China caused a sharp drop in the rate of bitcoin.
As it turned out, the message about the ban of ICO and stock exchanges in China appeared from not very reliable sources. Official representatives of the Chinese authorities did not provide an official statement.
The source of the news was an article in Google, published by a Chinese journalist who owned certain information from the country's officials. Thus, the news got into the media through third hands, and its reliability may not correspond to the original source.
Recall that last time, when China banned the turnover of bitcoin, a few months later the government revised its decision.
In China, there are many laws that prohibit the outflow of capital from the country. However, it is worth remembering that the law can not be considered unreasonable statements made by a journalist, even if received unofficially from a government official.
Could someone have directed this scenario in an attempt to destabilize the market and make money by dropping the bitcoin rate?.
Indeed, this news caused the collapse of the Crypto currency market. It seems that this is the last opportunity to buy bitcoins at such a low rate. This chance is extremely rare. This can be a kind of gift in the form of 30% of the revenue, as the BTC fell in price to almost $ 4,000, but soon, as usual, it will start to go up.
With Ethereum less lucky It should be noted that the particular influence of the ICO market is observed on Ethereum, not bitcoin. As Ethereum launches a lot of ICO, the market for this crypto currency may start to fever. After all, ICO is a kind of supercharger for Ethereum, which means that the price of crypto currency will continue to grow in the near future.
The problem of the majority of ICOs is that the projects underlying them are insolvent ideas led by people with a lack of knowledge and experience, and sometimes with fraudulent goals.
Most of the tokens released on the basis of ERC20, in the past six months were in projects based on insufficiently developed ideas and do not bring investors income.
Such ICOs become obsolete, absorbing the resources of users and investors without benefiting them.
However, while the ICO is planning and in the most detailed issue of tokens based on ETH. Only in 2018 is expected about 5000 primary offers of coins.
The development of the market does not stop crypto currency Despite the current situation in the country, Chinese investors are still investing in ICO.
It should be remembered that the Chinese market is not the entire crypto-currency world, and therefore digital currencies, including bitcoin, will move forward with or without it.
In the Middle Kingdom it was already reported that this is not a final ban, but simply a suspension until the adoption of legislative regulations on regulation. Along with other countries (for example, Russia, America and India), powerful mining pools are being created in the country, and the rates are increasing day by day.
China banned the bitcoin, and then allowed it. China can not choose which part of capitalism it likes and which does not, because it is to capitalism that the country owes what it is now. In any case, with or without China, the crypto-currency market will develop.