A statement by the Chinese president that this country will strive to become one of the leaders in introducing blockchain technology cannot be the real reason for the last sharp increase in the price of bitcoin. There is no relationship between the recognition of blockchain technology and the recognition of cryptocurrency. I do not know a state that would not now recognize the revolutionism and perspective of the blockchain. Nevertheless, some of them prohibit or restrict the circulation of cryptocurrencies. In addition, the Chinese government has always recognized blockchain technology and there is nothing new in the statement of the president of this country.
The reason for the rise in the price of bitcoin is either different, or it does not exist at all. There were a number of coincidences that led to such an increase.
We cannot completely throw away that and I would not also say that the move was completely dependent on the statement, but you know what happened when there were rumor that china wanted to ban mining, and how we all carried the news here and talking of what effect it will have, it was just a statement then that made the news to be all over the internet.
Looking at this statement, it is also a positive statement that is encouraging because we have so many people that has been skeptical about bitcoin, because they don’t know I any policy by government would have bad effect on it, and seeing this statement from one of the world's leader, it could actually pass some level of message down to people and motivate them just like it did to me.
