Will China lift the Bitcoin ban in the fourth quarter of 2024? ! !

According to people familiar with the matter, "the Chinese government may lift the Bitcoin ban in the fourth quarter of 2024, and the Chinese government is currently reconsidering its position. Lifting the Bitcoin ban may be part of a broader strategy to embrace blockchain technology and digital assets, in line with China's efforts to promote technological innovation and digital transformation." This revelation was first released in July by BitcoinLFG on Twitter.

China was once the global Bitcoin $BTC mining and trading center. In 2021, a comprehensive ban on cryptocurrency activities was imposed to curb financial risks and maintain economic stability. The ban led to the outflow of cryptocurrency miners and a decline in Bitcoin market dynamics.

If it is really realized, it will affect the market, mining and regulatory framework, but some analysts have denied the rumor, saying that this move conflicts with the agenda of curbing "capital flight" and that Chinese investors are currently prohibited from investing in Bitcoin and Ethereum $ETH spot ETFs in Hong Kong.

At present, Bitcoin rebounded at the beginning of the week, and some traders attributed it to rumors of China's lifting of the ban. Although the outlook is optimistic, Bitcoin derivatives are not enthusiastic. At present, you can pay attention to @dappOS_com

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