Seems like China is done with Bitcoin. Hash rate has dropped by over 60% in the last few weeks, which confirms that miners are exiting China for good.
How does a Bitcoin exit benefit China in the long term? What do you guys think is China's game plan?
A lot of chatter about this being "China's trillion dollar mistake". I don't think China's dumb, so keen to hear what they might have up their sleeves.
For me they are just controlling it again trying to lower the price.
I think when the price starts to go up they would once again join into it.
They have been playing with the market banning and unbanning in the past so I think it is just the same old drama.