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.?
China ban on bitcoin has never had a long lasting effect on the bitcoin market, many times we have always the price of bitcoin go back up after we see news that China has placed a ban on bitcoin. Even before the last bull run I think there was a news that said something about China stopping miners, which affected the market and bitcoin lost a significant amount, but after a short time the market started to climb up again and then went for a bull run.
Even after their last news about banning Bitcoin, we have also seen the market going up again, currently the price of bitcoin is at $57,000 and still showing signs that it will go further, we might be crossing the last ATH we saw this year.