Is China Lifting Ban on Cryptocurrency Leading Analyst Identifies Altcoins to Stack Before Huge Influx of Capital
Twitter is currently abuzz with rumors of China lifting its ban on cryptocurrency. Tech innovator Kyle Chasse took to social media to announce that Bybit is now allowing Chinese users to register on their platform. Previously, this offshore exchange had strict restrictions in place preventing Chinese users from accessing their services.
In a surprising turn of events, Bybit, the third-largest offshore exchange, has opened up registration and authentication for users in China. This news has sparked excitement as it signals a potential shift in China’s stance towards cryptocurrency trading. This move by Bybit, which previously barred Chinese users, has generated a wave of optimism in the market.
Analyst Dylan, appearing on the Crypto Banter channel, discussed the implications of China potentially lifting its ban on crypto. He highlighted the significance of Bybit’s decision to allow Chinese users to register and authenticate on their platform. This development is seen as a positive sign for the crypto market, particularly for altcoins.
Dylan emphasized the potential impact on cryptocurrencies like NEO, which recently experienced a significant price increase coinciding with Chinese news. He predicted a possible uptrend in NEO’s price if it gains momentum. Additionally, he mentioned VET as another cryptocurrency to watch, noting potential price increases in the near future.
CFX, a token with a strong history in the Chinese narrative space, also caught Dylan’s attention. Its recent break above the 50-day moving average suggests a possible upward trend, indicating a favorable opportunity for investors. He advised keeping an eye on CFX due to its past performance and potential for growth.
Lastly, Dylan briefly mentioned XIBA, a new meme coin similar to Shiba Inu, which has shown promising growth in the market. With a growing market cap and potential for further expansion, XIBA could be a coin to watch in the coming days.
Overall, the recent developments in China regarding cryptocurrency regulations have sparked optimism in the market, with potential opportunities for investors in various altcoins. Dylan’s insights provide valuable information for those looking to capitalize on these emerging trends.