The Chinese bans that swept the cryptocurrency industry have definitely changed the balance of the industry.
The fact that China announces a new ban almost every month and these lead to sharp decreases in prices is now attracting the reaction of many investors.
With the latest statements, the news that crypto money transactions were completely banned was the last point.
Although the concern that China’s bans will continue, a famous name has signaled that they will end soon.
China Bans Will Be Short
One of the co-founders of Bitmain, one of the largest mining companies, and one of the celebrities of the cryptocurrency ecosystem in China. Jihan Wuevaluated the latest situation.
In his interview, where he talked about the growth opportunities after the Chinese bans, Wu stated that the growth will accelerate again after this “short period”.
After emphasizing that the regulations are quite understandable, Wu stated that this short period will end soon and growth will come both in China and globally.
Although Wu does not explain exactly why these regulations are necessary or when the ban will end, it seems quite reasonable to see this in the near term, especially after the USA’s statement that it will not ban cryptocurrencies.
After FED Chairman Jerome Powell stated that cryptocurrencies will not be banned, there was actually a relief in the crypto money industry, and it is currently being talked about that this can continue with the support of the USA if China is not present.
It is said that China may have to take a step in order not to fall behind in this competition.