China is all set to launch its own crypto currency for more than 1 billion of its population how will it effect the crypto market ?
You mean the Chinese gov is going to launch the crypto currency. So I thik that currency will be totally centralized controlled by their Gov. And don't worry about the massive population of China. Maybe they are one sixth of the total population of the earth but that does not make any sense that the crypto market is going to affected if all of them start adopting that.
of course, they will control the crypto they make. moreover I hear that china making stable coins that will compete with libra. but, from the information that I got, libra's support is stronger than crypto that will be made by China.
China has a large population, and when every Chinese citizen is required to use their own crypto compared to other crypto, I think the development of cryptocurrency that they make will become a popular crypto
China will have their own centralized cryptocurrency so it will still be controlled by the government and even the Chinese people are required to use it, it's popularity will definitely not affect bitcoin. It's usage is only limited to the Chinese or even the near countries unlike bitcoin that is globally competitive. So even if China is a very progressive and has a huge population, it won't still make a big impact on bitcoin knowing it cannot be traded unlike what bitcoin is capable of.