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?