things like this always happen, indeed even though China always creates a controversy with its policies but things like this are strangely always effective.
China has even repeatedly banned and re-legalized bitcoin but it has always had a real impact on the market.
but it's true especially now that i've seen bitcoin back up even when i saw the last chart bitcoin will reach resistance at $59k and this is a very good thing.
They do really love on making moments like these but look at on what happened? Bitcoin instead make out some good movement and now it did break 50k instead of this situation.
They can ban all they want they can prohibit all they want.They can say all negative things that they want, doesnt only limit out on China but also in other countries as well.
Bitcoin wouldnt bulge out on situations like these.It might have some significant effect for some time but recovery is inevitable and instead it could reach up some good gains or increase.
apart from that of course they have their own goals for this and what is now the main focus is CDBC which is always predicted by china to be better than btc.
What's weird is why everyone, especially many beginners, panicked when there was news about China banning bitcoin.
even though when they are all relaxed it actually won't be such a big problem because it's only banned specifically for China and not with others.
and it's true that now it has entered the resistance figure at $50k and the longer bitcoin continues to move to where it should be.