How will this impact Bitcoin and other cryptoprojects?? What do you think guys?
The crackdown by the Chinese government on the crypto industry is not new at this time, previously last May they also did the same thing to services related to crypto transactions, even the Chinese state ban action was also carried out in 2013 and 2017, although they continued to oppose the presence of bitcoin but so far has not had a big impact on bitcoin because many people and investors still strongly believe in investing with bitcoin.
But this time it's more serious, or we can say that it's getting worst, in short China is always against crypto, and crypto would never grow in this country. What's the effect? Seems like the bad effect was just temporary as bitcoin is now bullish rising to $50k+ and would probably increase more in the last quarter.