I'm holding BTC just so you know, but my question is why does the shutdown in China matter? I understand it temporarily reduces computational capacity and slows down some transactions because of that, but the whole thing I bought into is that this is a worldwide network and no one government can control it. So the blockchain just changes minors....right. Is there something more to this that I don't understand?
China naturally wouldn't have mattered but it is the investors that react to every news they hear about cryptocurrencies that makes it matter.
People have been complaining about how China is monopolising the Bitcoin mining ecosystem and now that there is this news about miners moving out of China, I would have thought this will bring some relief in terms of decentralisation of Bitcoin mining but again, it is affecting Bitcoin again.
The rest of the crypto ”community” are the ones responsible for what ever happens to the market not China because we reacted to what China is saying or doing.