Slumps is a big word, bitcoin is doing just fine so I really don't see how the Chinese ban made a difference, people has learned overtime that if China is involved, it's better if you don't panic at all because things will eventually smooth out.
I don't see it either. Bitcoin is still in a good shape with its present price at $47,600 so this new banning from China has never affected bitcoin that much. Even the whole crypto market is doing fine this time. Gone are those days that every time China makes a FUD, bitcoin will struggle all of a sudden. And all other coins crashed by then. But this time, there is no much effect as bitcoin continues its momentum to go up, followed by those potentials coins in the market.
If we look at the price of Bitcoin which has increased by 12% compared to last week, it is evident that Bitcoin is getting more bullish. This means
that the bad impact of the news regarding the ban on crypto by China did not last long. The market is slowly recovering, although I admit Bitcoin is
still struggling past the $50k price, but I believe it can be achieved in the near future. Most importantly as long as we still believe in the future of
Bitcoin and don't panic with the circulating FUD everything will be fine.
Yes. China has not succeeded this time because instead of the market to get dump, bitcoin is gaining more momentum to move upward. And with bitcoin almost reaching $50k this time, i know it will be even more bullish in the next days. I think the market has been used already with China's frequent banning of crypto and so even if there are still coming breakouts from China, more likely it will never leave a huge impact on bitcoin and with the crypto market. And considering that there are more progressive and developed countries by now that are thinking to accept bitcoin as a medium of exchange, then bannings from China will never be relevant at all.