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 is so influential on bitcoin that bitcoin has decreased in price because China forbids mining bitcoin in its country. In China there are also some of the richest investors who are very influential in the cryptocurrency market.
If the Chinese government bans Bitcoin for a very long time, the price of bitcoin will experience a very sharp decline in a very long time. Although bitcoin experienced a decline in price because China banned Bitcoin, the price of bitcoin could rise again after investors in other countries began to join the crypto market.