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What impact will China’s crypto ban have on BTC prices medium term?

What impact will China’s crypto ban have on BTC prices medium term?

What impact will China’s crypto ban have on BTC prices medium term?

in Market News

In the wake of China’s recent dramatic cryptocurrency announcement, Bitcoin traders remain cautious. The announcement came from China’s top financial regulators that there would be an absolute ban on all crypto-related transactions. Furthermore, there are calls for increased censorship of crypto information providers.

The long term impact of this announcement is yet to be told. In the medium term, it is highly probable that many Chinese investors and traders will leave the market as the aftershocks of this Chinese official stance continue to reverberate. Will BTC upward momentum return?


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Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

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