Bitcoin is currently at around 4000 USD. It might not be exceptional but it is still good. Once again, we are seeing a bit of stability with Bitcoin and this could be a sign that the price is going in a good direction. There are positive indicators showing that it might be sooner.
It’s interesting how China could contribute a lot in the growth of Bitcoin, or any other cryptocurrencies.
China had implemented a lot of bans and restrictions, and they don’t seem to like this so-called “anti-authoritarian” currency because they believe that it will not be good for their government. On the other hand, citizens of China love to use electronic payment system such as WeChat. Yes, you read that right, as odd as it sounds, WeChat can be used for payments and Chinese are just crazy about it.
Compare to people in the US who still prefer using conventional payment or using credit cards, people in China, or in other nations with large population, prefer paying electronically which could be of big significance once they adopted crypto. The adoption of China alone could boost Bitcoin and altcoins into an extremely significant level. This kind of adoption on a larger scale will surely have a big impact.
Like what Billy Bambrough of Forbes has written in his article published on December 31, 2018, “Bitcoin adoption could be boosted by surging China demand.” It was mentioned in his article that, “a new survey out of China shows surging interest in the bitcoin and cryptocurrency, with many keen to invest in crypto in the future.”
What do you guys think? If China adopts Bitcoin, will it really have that big of an impact?