China has always been a country with a hostile attitude towards cryptocurrencies, it is not uncommon for them to make decisions against the market.
But I think no matter what decision China makes, the market will continue to grow.
I dont know why all the people are shocked always about this. Every 1-2 years China always bans crypto and then after some times unbans it. This is just the power of China to manipulate the market. But like you said the market will always grow. Intresting thing is that Tesla then China then all this news were almost at the same time 1 month diffrence maybe.
So we are seeing a well-cordinated plan has been executed to buy BTC cheap? It's true that China is banning crypto since 2013 so that nothing new. It looks like big players are doing battle inside between them to gain upper hands over the market. The market is in a stalemate situation right now so let's see who wins at the end.
Its a bad decision from China govt, they didnt support their miners to keep a Hash Dominancy on Bitcoin, now U.S will take the opportunity to have the dominance. or Maybe Russia.
Govt is not doing the mining private company does. So it's not about govt and the USA is also not very friendly towards bitcoin so don't be so excited. China crypto bans lead private mining companies to shift their company to other countries that are it. I think they should do that so that we won't have any problems with china in the future.