Will the price of BTC go to super high level when China officially supports it?

[kidddwkr]

Believe or not ,the Chinese showed great enthusiasm for bitcoin and blockchain ,even the 'Chinese aunties' who got less knowledge of cryptos .
DeepOnion ,a week ago they began to explore and advertise in China .Google Analyze showed the Chinese became the most active users in the forums for just 1 week ,such amazing and frightening !
And we all know the China government hold no brief for the progress of blockchain in China .Most firms of blockchain are illegal to manage in China .And the hobbyists are struggling to buy bitcoins .

China will never resist BTC thoroughly because the bigwigs held a huge number .So maybe someday we could look forward ,China officially supports the construction of crypto economy .And then will the price of BTC jump into another high level ?I think so ,let's wait for China .

[BillyBobZorton]

Bitcoin has, and will always have value, precisely because governments are forced to ban it. Government's accepting or supporting it officially is just an extra. I mean it would be naive to claim that it's not a positive, but it's not essentials.

And yes, governemnts oficially supporting bitcoin tend to be bullish, whereas governments banning BTC tend to scare panic selling noobs out of the game, then we hit all time highs anyway after the dip.

[bit-freedom]

If China government support BTC, i believe there will be a positive impact on BTC. With China population, Bitcoin price will most likely increase.

[cryptotask_support]

The price would jump 10-20% immediately, I hope I see that This ban is not good for anybody.

[Sithara007]

If any of the world governments show a positive interest in Bitcoin, then the exchange rates will go up immediately. It does not necessarily needs to be the Chinese government. It can be the Russians, Americans, Germans, or even the Indians. But at the same time, we need to realize that many of the Chinese users have already shifted to Korean exchanges for Bitcoin trading.

[shamzblueworld]

It definitely seems like that, with such huge population and that too quite tech knowledgeable and most probably very interested in crypto and bitcoin, once supported by government or by opening some legal exchanges in the country, will definitely boost bitcoin value in huge proportions.
Maybe if it happens in 2018, we might end up seeing bitcoin value touch 50K USD next year.