China's central bank just declined accepting Bitcoin as a currency. This is a huge blow to BTC because China has a huge stake in the crytop markets. What could this mean for the future of BTC? Time will tell. It's going to be interesting how low BTC goes because I would deduce that when it stops, it means that the support from the rest of the world has begun(Including those in China that will hold).
This is going to be a interesting ride,
- Citizen
"Bitcoin does not have the fundamental attributes needed to be a currency as it is a string of code generated by complex algorithms...But I do not deny that virtual currencies have technical value and are a type of asset," - Sheng Songcheng
https://www.reuters.com/article/us-china-bitcoin-idUSKBN19S0BS
https://cointelegraph.com/news/chinas-central-bank-not-backing-bitcoin-as-currency
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