China Waiting Bitcoin To $500,000 For Next Ban
According to reports, there are huge chances that the government of China may ban the ownership of crypto holdings.
Recent reports indicate that China is not going to stop their action against crypto. A huge fluctuation they supplied to the crypto industry through the ban on crypto mining & trading. Now they are looking to further ban crypto with different targets.
Related: China Moving Toward national Crypto Mining Ban
Bobby Lee who is a crypto pioneer of China. He is the founder of the very first Chinese exchange. He shared his point on the next move by Chinese government.
According to him,China is planning to ban the ownership on crypto holdings. This is not 100% true but still there are 50-50% chances.
He stated:
“The next thing they could do, the final straw, would be something like banning cryptocurrency altogether. I put it at the odds of 50-50”
He also said that China is probably waiting for the pump in Bitcoin’s price. They will bring their another crypto holding crackdown law after bitcoin hit $500,000.
Lee also shared his point of view on Bitcoin price. According to him, the price of Bitcoin may touch $250,000 later this year.
While this report has not much Influence in the crypto market, but one thing we can consider. Any country will not ban crypto with 100% elimination. Here China didn’t ban crypto holdings because they don’t want to play with the economical disturbance in their country.
Another thing we can consider, the potential of Bitcoin’s price that can pump to very big heights. Also after the entry of Amazon in blockchain technology, rumours claimed that the price of Bitcoin may jump to $100,000 soon.
Read also: In U.S Crypto Investor Are More Than Double By Stock Investors : Survey
