Is Chinese Government Go Against With Bitcoin ?
Many say that the Chinese government is going against Bitcoin, which is untrue.
The People’s Bank of China (PBOC) is the arm of the communist machinery to pull the price down to keep it low, at least for a short period.
As you can see, they are doing almost everything in their might to achieve that. Personal interviews, on-site monitoring, control of deposits and withdrawals, just short of charging and arresting or even closing down major exchanges just to create the panic in the market, hoping to see an exodus of investment to keep the price below $800.
So far those actions taken seem not working, with the price just briefly dipped under $1,000 and climb back thereafter.
However one thing they are still reluctant to do is to go overboard and kill the crypto market once and for all, as they will want to launch their own in time to come.
It’s a hard thing to maintain the balance. The war has just began and you have definitely not see the end of it.