China banning bitcoin is a good thing

Today, news broke that China has imposed a final and complete ban on bitcoin. Harsh, I think, isn’t it? Titled “China Declares Cryptocurrency Transactions Illegal”; The price of Bitcoin is falling. ”This gives the impression that it is not just big news but Bitcoin is suffering as well. Well, despite a couple of daily red candles, both are wrong.

China has been trying to ban bitcoin for years. In 2013, a few years after the birth of Bitcoin, the Chinese government first wanted to ban the use of Bitcoin in the country. Since then, the price of BTC in US dollars has declined.

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