Because China Gov owns around 200,000
Sources?
Then they un-ban and then they ban again. History repeats.
Also the source of when do China unban crypto? I think it didn't happened.
And for what is happening, China's voice is too little compare for what people's doing, despite of the hate of their government towards crypto, look the market now, it should be enough to them and for all the haters.
Regardless of the sources, I would think that the Chinese government owns more than 200,000 BTC. If they bought all the way up to $20,000, that would have been < $4 billion. They are not stupid and I believe they would just buy it in case it blows up one day so they are not totally out of power or without a say. $4 billion is pocket money for them.
What's your opinion here in general, do you guys believe they hold a large amount of BTC?