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?
In earlier times,whatever small changes occur in china related to crypto currencies,immediately we saw a great impact on the crypo market all over the world.This is because they had a majority of mining farms in china and had a lion's share of total number of bitcoins.So,they are easily able to manipulate the market by dumping bitcoins.But not now since bitcoin has investors universally all over the world.Just same is the case now.After the announcement of ICOs banning,immediately many sold their bitcoins due to panic and FUD started to spread making the price decrease more from ATH $5000 to nearly 20% less reaching $4000.But it was a terporary conitio and immediately,it started to recover and now it is $4495.It shows that big buy wall is there for bitcoins.So,china is losing its upper hand over the crypto world and overall,its good for the crypto world.