A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?
Yeah surely they are great in it. China is also best miner in the world and most of the hash power is directed towards china which means most of the bitcoin is in china holdings. For sure after knowing the news about ICO projects being banned people might have sold their altcoins to bitcoin and then converted everything into fiat. Thus could be possible reason as to why the major dump occurred recently with just single announcement.