RATE Group | How Much Influence Will China Have On The Future Of Bitcoin?
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How Much Influence Will China Have On The Future Of Bitcoin?

22 Jan How Much Influence Will China Have On The Future Of Bitcoin?

Posted at 16:16h in Bitcoin News by

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China is intrinsically tied with bitcoin, more so than any other nation. The state has little tolerance for it, that much is known, but can past events give us any insight to the future of this fragile relationship.

As Chinese New Year approaches many analysts are looking for clues as to whether this will affect bitcoin prices. Crypto media has decided it will be bullish and bearish at the same time.

One common theory is Chinese investors will sell off holdings before the holiday to free up spending money which will create additional bearish pressure on markets.

Historical price trends show that whatever happens, this weekend will be a blip in the grand scheme of things.

China: The Bigger Picture

A recent report by crypto trading firm SFOX has taken a deeper look into the tempestuous relationship between China and bitcoin.

The country plays such a major role in the machinations of the world’s leading digital asset. China has a massive OTC market with huge domestic demand, over…

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