Chinas state-controlled television station, CCTV.com, recently hosted a segment breaking down
Bitcoin, according to a prominent trader that closely follows the regions cryptocurrency scene.
China's state controlled television explaining the basics of "first ever
blockchain technology" #bitcoin $btc, and how a distributed ledger works
Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.
With Chinas new cryptography law will come into effect on January 2020, theres a great chance that our market would go uptrend. However, I would not really count on that though. Since theyre only endorsing blockchain and not Bitcoin and other cryptocurrencies, theres no such guarantees that China would finally embrace digital tokens in open arms.
Plus, halving is coming. For those of you who may think that it is going to cause a major uptrend, it will go backwards instead on a short-term basis.
Its a good thing that China recognizes blockchain very well, but it will come in a long while that they will embrace Bitcoin and other cryptocurrencies as well to be adopted in the country.