History has always repeated itself in Bitcoin on the 24th of September 2017 when the china central bank ban Bitcoin/cryptocurrency, a move that sees the price of Bitcoin crashing deep before it recovered after 3 months of struggle to hold its resistance. On the 24th of September 2021 news still, fly around about china banning crypto, which turned out to be rumors and false development that see the Bitcoin price dropping to $40,675 before it gradually rises back to 41k.
The price has already gotten up to $44,000 after the news was made. I also suspected it to be a rumor because I know that it has been long that they talked about Bitcoin being banned in China, so I wondering if they were banning it twice or what? I just didn’t get it. So, I knew there was something about the news, and it all doesn’t make any sense at all.
Even if they should it ban, it’s not going to make Bitcoin to stop, it might just have a slight decrease and still get back again and continue. And that doesn’t stop people from using bitcoin, we have seen how people quickly switch to making use of P2P exchanges in places where Bitcoin was banned. So, that’s the same thing Chinese people will do when centralized exchanges are no longer functioning for them.