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Is this Bitcoin FUD over for good
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A few months back, the Bitcoin industry was slapped with another ban from China. It wasn’t a new occurrence either, with multiple bans surfacing over the years. However, it specifically restricted the BTC mining sector in the Chinese provinces. The ban possibly played a cascading role in Bitcoin’s corrections during May 2021, fueling numerous FUDs.
With China responsible for 2/3rd of the mining power at one time, the sudden shutdown of mining farms catalyzed speculations that BTC’s price would crash heavily in the following weeks. In fact, some even speculated that BTC will possibly drop down to $10k-$12k.
With the digital asset trading well above $60,000 now, the narrative couldn’t be more different at the moment.
With miners rushing out of
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