Yeah when I heard about this a year back I assumed it would be very bullish because it would bring tons of money into the crypto market. However whenever we got news that it was finally a reality and trading would be allowed, nothing happened. And the price is still not exploding due to this news.
I think the people who wanted to own bitcoin already did in alternate ways and those that want to buy bitcoin won’t do it now but only when bitcoin breaks ATH. Many believe Bitcoin is dead right now because it’s trading sideways for many months.
New regulated exchanges from Hong Kong and later Shanghai will start everything slowly and do a whitelisting process. The only cryptocoins that will be listed in the beginning are Bitcoin and Ethereum. You can confirm by going to Hashkey exchange, the
first legal exchange in Hong Kong.
I reckon in a confirmed bull market, the whitelisted projects being prepared for listing in Chinese exchanges might be the source of much speculation, very similar to
when Binance speculations we have witnessed hehehe.