I keep seeing news stories and hearing about this. I am not sure what to make of it. Is this why the market overall is down? I mean most have been in the red more than in the green the last month or so which I am not sure how to judge. I want to get more invested in crypto but I am worried about China placing these restrictions and bans on everything.
There are a lot of Chinese investors in crypto as well as miners. This is likely going to hit the market because the miners will be pushed out by laws and regulations which will cause a decrease at first and then a huge influx. I expect to see most crypto double in value by the end of the summer because of this.
I will be honest, I never trusted the CCP and I never will. It would not surprise me if the government is doing this to manipulate the market and gain traction on crypto so they can have the most power within their borders.