China Struggles to Lay Killing Blow to Bitcoin, Currency Thrives

China became the first country to take a hardline approach to ICOs, then moved on to Bitcoin and the exchanges that trade the digital currency. Despite these bold and brazen efforts, Bitcoin’s price is higher than ever, and the currency continues to be a factor in China. Where there’s a will there’s a way, and Chinese investors are still managing to trade Bitcoin and buy into controversial ICOs.

Fear of drop

The initial news of China’s take down of Bitcoin, which was timed with Jamie Dimon’s slur on Bitcoin, caused the price to take a dive. As the price dropped from $5,000 to $3,000 on the news, the fear was that further exclusion of a major Bitcoin player, like China, would erase Bitcoin’s price gains this year. However, this has not been the case at all…

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