China’s crackdown on the cryptocurrency industry might not stop with banishing crypto miners.
According to Bobby Lee, the founder of the very first Chinese exchange, there is a 50 percent chance that Bitcoin ownership will be banned in the country:
Advertisement
The next thing they could do, the final straw, would be something like banning cryptocurrency altogether. I put it at the odds of 50-50.
Lee believes that China could move to completely ban Bitcoin when the cryptocurrency’s price hits $500,000.
Shiba Inu (SHIB) Golden Cross Can Happen Soon, First Solana (SOL) Comeback, Ethereum (ETH) Breakthrough Incoming?
Bitcoin (BTC) on Cusp of Reclaiming $100K
'Crucial' Bitcoin Warning Issued Amid Microsoft's Quantum Computing Breakthrough
Novogratz Names Key Reason Why XRP and ADA Remain Among Top Tokens
Alex DovbnyaAdvertisement
The crypto pioneer is still convinced that Bitcoin could reach $250,000 later this year despite a massive correction.
As reported by U.Today, the top crypto recently jumped to nearly $40,000 amid Amazon rumors.
Dan Burgin
Vladislav Sopov