In 2017, a young man bought two bitcoins for 9,000 yuan, but by the end of the year, the Chinese policy changed, and cryptocurrency trading platforms were shut down, so he had no choice but to sell. Now these two bitcoins are worth 1.3 million, and thinking about it doesn’t feel good. This is quite interesting because at that time, many people, like him, also sold their crypto assets due to the policy.

Speaking of this, China has always been quite strict on the crypto market. Back in 2017, the government stopped ICOs and shut down trading platforms, which calmed down the domestic speculation frenzy a bit. However, these measures also forced some blockchain projects and talents to go abroad for development, with places like Singapore and Switzerland welcoming them.

Looking at the blockchain technology itself, China still supports the development of applications. For example, it has already started pilot projects in financial services, but the legal framework still needs to be improved. Currently, it seems that this thing has a good prospect, but it requires a gradual exploration of a development path suitable for the country's conditions.

Returning to the issue of the rise in bitcoin market value, there are actually several reasons behind its price increase. On one hand, people think of it as 'digital gold' that can resist inflation; on the other hand, major institutional investors are beginning to recognize and enter this market. At the same time, many central banks around the world are researching their own digital assets, making more people believe it is the future trend. However, risks still exist, and small retail investors need to think carefully before entering the market!

Currently, the crypto industry is still undergoing constant changes worldwide, and how to balance regulation and innovative development domestically is also a continuing topic that requires all parties to slowly figure out a solution.

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