Who would have thought that the future of digital currency would rest in the hands of China?
While Bitcoin’s value is soaring to all-time highs, the digital currency has exceeded $6,000 per coin after rising about 500% this year.
Now the sharp appreciation shows that the recent regulatory crackdown in China and elsewhere hasn’t dampened demand current demand for bitcoin.
But future efforts to more tightly control the currency has caused only a temporary price drops.
But, if China decides to completely forbid its citizens to hold the currency, its value would most likely plummet, since China is its largest market.
Granted there are hundreds of other digital currencies aiming to displace bitcoin, but their future truly rests on China