Breaking! China may restart the Bitcoin market? What will happen to Shiba Inu (SHIB) in the future?
Hey, friends in the crypto circle, there's big news! Bitcoin Magazine recently mentioned that China might soon lift its restrictions on Bitcoin activities, with the earliest developments expected by January 2025. This media outlet, which is organizing the 2024 Bitcoin Conference, also speculated that China might have been secretly accumulating Bitcoin.
Vivek Sen, a reporter from Bitcoin Magazine in the EU, wrote an article expressing that he believes it’s only a matter of time before China cancels its Bitcoin mining ban. Although they banned trading and mining in 2021, many events have happened since then, and Bitcoin has become incredibly popular. Trump is even urging everyone to hoard Bitcoin, Bitcoin ETFs have been approved, and the Chairman of the Federal Reserve, Powell, has referred to Bitcoin as “digital gold,” while big shots at BlackRock have also supported Bitcoin, and even the President of Russia has praised it. If China is indeed hoarding Bitcoin, we wouldn’t be surprised.
Vivek Sen also mentioned that China tends to keep things low-key, similar to other Asian countries, preferring to be discreet. Zhao Changpeng from Binance also stated that Asian countries don’t publicize their policies as openly as the United States. If China is planning any moves regarding Bitcoin, we will only know when they are ready.
He believes that China may be planning to lift restrictions on Bitcoin and cryptocurrencies, potentially as early as the first quarter of 2025, and he doesn’t find it surprising, especially if Trump returns to power.
Bitcoin is currently quite stable, hovering around 105,000, but there isn’t enough volume. Without significant capital pulling it up, relying solely on speculative trading could lead to careful retracements. In a bull market, you can’t call a top; don’t short when bearish, just test the waters a bit and break through slowly. Don’t rush to add to your positions, don’t chase price increases; it’s windy at the top of the mountain, so you need to be steady.
Binance Coin is fluctuating between 700 and 740, and they have issued two rounds of Holder rewards, which is really good. Ethereum is also hovering around 4000, and dollar-cost averaging will definitely yield profits, as institutions are increasing their holdings with a clear target of 4800; even the long-standing second place is worth a look. Is Bitcoin too high? You can consider Ethereum instead.
As for the upcoming layout direction, I will lead everyone to aim for the lucrative opportunities in altcoins, especially those with high potential projects, where an expected return of over 10 times is not a problem. If you want to make big money in the bull market, like and comment, and I will guide you in laying out the entire bull market!
