Analysis of the war between China and BITCOIN ⚔️⚔️⚔️Who wins?
Today I want to have an overview of the war between China and Bitcoin, and see who wins this war?
It has long been known that as China approaches the unveiling of its digital currency, China's fight against bitcoin will begin, and since 2013, there has been a lot of negative news about bitcoin from China.
Although every time we saw negative news from China, we faced a sharp drop in bitcoin, but in all these years bitcoin has maintained its growth in the long run, and this shows the strength of bitcoin against China and that Support for this currency is still strong.
Now the question is: how powerful is Bitcoin in the face of such news?
Before answering this question, I would like to mention a few things. We are all aware of the trade war between the United States and China, and we know that these two countries are currently the largest economic powers in our world, and certainly the trade war between these two powers will be drawn into digital currencies.
Now, given that digital currencies are highly detrimental to the dollar's dominance and could undermine US power in the international arena, there is a possibility that the US will also ride on this wave and fight bitcoin. In this case, I think bitcoin and the cryptocurrency market will be destroyed, but I personally find this possibility of a US fight against bitcoin weak for two reasons:
1. In the field of digital currencies, the United States is strongly behind China and fighting Bitcoin, giving concessions to China and its digital currency.
2. To date, the United States has had many opportunities to ride the wave of negative Chinese news and fight bitcoin, but to date it has not.
Now there is another possibility and the evidence shows that the United States will compensate for its backwardness from China in the crypto market by supporting Bitcoin and gaining more market share for itself.
The words of US Senator Patrick Joseph, who said, "Now that miners are moving out of China, this is a great opportunity for the United States to accept bitcoin," confirm my second analysis.
And finally, the conclusion is that if the United States accepts bitcoin and starts supporting it, we will see dream days for cryptocurrency.
And the worst case scenario is for the United States to unveil its own digital currency, which would put pressure on bitcoin from two major economic powers.
What do you think the future of Bitcoin will be like?
It has long been known that as China approaches the unveiling of its digital currency, China's fight against bitcoin will begin, and since 2013, there has been a lot of negative news about bitcoin from China.
Although every time we saw negative news from China, we faced a sharp drop in bitcoin, but in all these years bitcoin has maintained its growth in the long run, and this shows the strength of bitcoin against China and that Support for this currency is still strong.
Now the question is: how powerful is Bitcoin in the face of such news?
Before answering this question, I would like to mention a few things. We are all aware of the trade war between the United States and China, and we know that these two countries are currently the largest economic powers in our world, and certainly the trade war between these two powers will be drawn into digital currencies.
Now, given that digital currencies are highly detrimental to the dollar's dominance and could undermine US power in the international arena, there is a possibility that the US will also ride on this wave and fight bitcoin. In this case, I think bitcoin and the cryptocurrency market will be destroyed, but I personally find this possibility of a US fight against bitcoin weak for two reasons:
1. In the field of digital currencies, the United States is strongly behind China and fighting Bitcoin, giving concessions to China and its digital currency.
2. To date, the United States has had many opportunities to ride the wave of negative Chinese news and fight bitcoin, but to date it has not.
Now there is another possibility and the evidence shows that the United States will compensate for its backwardness from China in the crypto market by supporting Bitcoin and gaining more market share for itself.
The words of US Senator Patrick Joseph, who said, "Now that miners are moving out of China, this is a great opportunity for the United States to accept bitcoin," confirm my second analysis.
And finally, the conclusion is that if the United States accepts bitcoin and starts supporting it, we will see dream days for cryptocurrency.
And the worst case scenario is for the United States to unveil its own digital currency, which would put pressure on bitcoin from two major economic powers.
What do you think the future of Bitcoin will be like?