🏆 Chinese netizens "fomo" Bitcoin despite government ban
🔹 Despite being banned by the Chinese government, Bitcoin is still a hotly discussed topic on social networks, especially when the price of this currency is increasing sharply.
- Bitcoin is currently the 11th most searched keyword on the Weibo platform
- On WeChat, Bitcoin's popularity increased by more than 358% compared to the previous day.
🔹 Bitcoin's boom reflects:
- The cryptocurrency enthusiast community in China remains active, despite the government's ban.
- The difficult economic environment has caused some Chinese people to turn to investing in cryptocurrencies instead of stocks.
- Crypto trading still takes place, although investors have to use "tricks" to overcome barriers.
🔹 However, the Chinese government still maintains a tough stance:
- China is increasing supervision of cryptocurrency-related activities, concerned about financial security risks.
- Despite supporting Hong Kong to become a virtual asset center, Beijing still prohibits crypto-related activities.
🎯 In short, the Bitcoin price increase shows the return of Chinese people's interest in cryptocurrencies, even though the government still maintains the ban.
