Don't you think if the news from China had come earlier like 5 years ago, it would have crashed the emergence of cryptos. I think that was the news that saw bitcoin heading downwards.
Whats your view?
China is taking more measures to prevent the use of crypto currency. After the ICO ban, the government of the country ordered banks to freeze accounts related to crypto-exchange exchanges and imposed a ban on Internet access to everything that is somehow connected with the crypto-currency trade. After that, once the world's largest Chinese crypto-exchange exchanges lost most of the turnover and were forced to change their jurisdiction, and the miners also began to look for opportunities to move.
Thus, the PRC was the strictest regulator of the Crypto-currency. This is a strange turn of events, because in 2017, Chinese bitcoin miners left more than 70% of all world's miners, and the popularization of crypto-currency in China passed at a speed much ahead of other countries.
Most likely, the strict measures of the Chinese government are connected with the country's orientation toward combating capital outflow and corruption.
