Re: China crackdown on BTC and will support its own cryptocurrency
https://www.forbes.com/sites/sarahsu/2017/10/19/will-china-host-the-worlds-biggest-state-backed-digital-currency/#380d56461231
Though the news was on October 2017 but still relevant and could be one of the contributor why there is huge dip of BTC's price recently.
We cannot deny the fact that there are large of Chinese population in the market of Cryptocurrency and their absence will be a huge blow to the price of BTC and other cryptocurrencies in generals.
Though the news was on October 2017 but still relevant and could be one of the contributor why there is huge dip of BTC's price recently.
We cannot deny the fact that there are large of Chinese population in the market of Cryptocurrency and their absence will be a huge blow to the price of BTC and other cryptocurrencies in generals.
This is not news, and how many times have bitcoin and the cryptocurrency space have survived Chinese bluffs and bullshit? 3 or 4? With the amount of new money flowing in to bitcoin, it's safe to say that losing a significant portion of Chinese traders is bearable and bitcoin would just recover with the number of new traders and money pouring in every single day.
Majority of Chinese patronize their own.
I disagree. They patronize other countries' works and try to imitate it at the best of their abilities. It's their communist government who are strict on their policies and rules, but the majority of the Chinese people I knew don't like how their leaders are doing. Ever wonder why most successful Chinese businessmen are from different countries and not in China?
