It can also go to zero...
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China and a few other countries have already banned Bitcoin. Do you think a sovereign government will allow another crypto to compete with it? China is already using cashless, to be fully instated next year....the US is close behind.
China hadn’t banned Bitcoin. Unless it happened in the last ten minutes. Please don’t say shit like that without citing a source.
China allows mining of Bitcoin. They mine most of the worlds Bitcoins in Server farms.
China goes back and forth about Bitcoin like India. In reality if they could shut down Bitcoin, then it would have already happened. By banning it then it will accelerate their demise of their fiats.
China is accelerating going to a digital economy to better track what their citizens are buying.
Here is the issue with that and very few people understand this. People went to Bitcoin and other crpto currencies because they did not like seeing in the current banking system. Most governments around the world think it’s just about the technology and not printing into oblivion that is the issue.
Good luck enforcing it too. Like I said earlier. If they could ban crypto technology, then they already would have done it. In reality they cannot. This is because they do not control it. A computer program does.
There are only 2 ways to shut this down. 1) If you shut down the Internet. 2) If the Earth has a dooms day Astroid hit the planet. Other than that. It’s not happening.