Considering the fact that China keeps fighting to make sure they totally ban anything that has to do with Crypto (Bitcoin), we now notice that these days, their announcements now has less negative effect on Bitcoin, I.e Bitcoin don't fall careless again because of news from China like before.
But yet, investors and Bitcoin enthusiasts like me are beginning to worry if on the long run, China's ban can have a lasting drastic effect on Bitcoin or not.?
The fact that China has banned Bitcoin might actually be a positive for cryptocurrencies in future. Due to the fact that country has poor environmental regulation and basically powered most of their miners with the dirtiest fossil fuels, it makes the remaining mines more environmentally friendly now they've shut that all down. I doubt the average Chinese citizen who has Bitcoin was really that bothered and yes, it does shrink the amount of new investors (who follow the laws of that country) but with it being decentralized there will be some who get around this ban. The fact that most miners from that country would have sold will cause a small depression in the price but should otherwise not effect it for too long.