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?
China is an obvious main player in crypto,
with Bitmain having a basically mining monopoly and a ton of other miners ending up on China due the cheap electricity and cheap labour essentially.This is nothing but more FUD and more insider trading. Look at the PBOC incidents last summer. They were able to dump the market, and the market recovered and we went to an ATH. This is the same all once again. Weak hands will get shaken, strong hands will hold, insider traders will get a ton of BTC from the panic sellers. The same cycle always repeats on all markets.
They are playing a large role in the industry of cryptocurrencies (not just in cryptocurrency but also in the gadgets and gizmos and real products). Just imagine a population of roughly 1.3 billion. Ang true perfect place to mine because the climate is not that hot in the upper China and the electricity are cheap because they are relying on the alternative sources of energy. Because of the market share and the support that they are giving in mining and investments china is the main player here. (But Im hoping that russia will soon make crypto a legit currency)