Bitcoin and Blockchain Interest Explodes in China After Xi Jinping's Comments

Even though China retains its hawkish stance on cryptocurrencies, President Xi's positive take on enterprise Blockchains injected a dose of legitimacy into the crypto industry and had a profound ripple effect on the BTC price.

Shortly after China's endorsement of Blockchain, Bitcoin started pumping like crazy, recoding its third biggest gain in history before experiencing a 15 percent correction.

It's not clear what caused this specific price pump, creating the so-called "chicken-or-egg" problem. Placeholder co-founder Chris Burniske said that the price rally could have driven the people's interest (or vice versa). Read More...


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