no not really i think china has a big part why bitcoin is price is really going insane just think about their population they are so populated and people seeks job to make a living mostly chinese have money so they also want a good investment and bitcoin is one of the good things to invest in it now
In my language there is a saying: "many but..", I won't add the adjective not to enrage the Chinese readers...
But numbers alone don't mater.
So , they are 1 billion , that is meaningless. There are 1 billion Indians and another 1.2 Africans.
If an american is earning 3 times more it means already the same but when you do the math combined with real life it's way more.
For example A and B earn 1000$ and 2000$. Both have to pay rent, electricity, food and stuff worth 800.
In the end A has 200$ while B has 1200$ left. That is 6 times more.
It's the same with China and India, they might be many but their impact on the price and their investment lags miles behind those of EU and US.
LOL watching todays price, I think china is dead and bitcoin is still living solidly. hats off to bitcoin.
Watching the price, BTC is around 80 billions while China has 14 trillions yearly GDP.
Let's not overreact, neither China nor BTC will really die because they choose to ignore each other.
I think bitcoin will never die because i think that china will recognize that bitcoin is not bs and can make their market grow. And they will see bitcoin rise and will regret that the ever even thought about banning bitcoin.
They care only about one thing.
Stopping capital outflow, and with bitcoin this is impossible to control.
Transactions, security, etc etc they don't care about it. They care about knowing where money are going and preventing them from flowing out of the country.