China can do it but it is like a big tap on their own face because years ago in the last market cycle, they cracked down Bitcoin mining and in many years they tried to constrain their citizen access to Bitcoin and cryptocurrency as most as possible.

They can do it because their government totally control that country and citizens in that country have no power from voice to vote for impacting the governmental policy. If Chinese government actually do it, it will be a greatest ever comeback in Bitcoin national policy history.

If it happens, it's big win for Bitcoin investors and I imply about people who already bought bitcoin and hold their bitcoin a long time. For new investors and future investors, it's kind of loss because they soon will have to purchase bitcoin at more expesive prices.