Bitcoin up 36% YoY after China warned BTC was ‘heading to zero’

” In the future, as soon as financiers self-confidence collapses or when sovereign countries declare Bitcoin prohibited, it will return to its initial worth, which is utterly worthless,” the short article read.While its yet to be seen whether Bitcoin is heading to absolutely no one day, it has not lost any value because the Chinese federal government issued the warning. On the contrary, Bitcoin has actually significantly increased given that the short article was published.According to data from CoinGecko, Bitcoin traded at around $20,000 when the Economic Daily launched the post in June 2022. In April 2023, Bitcoin briefly crossed the $30,000 cost mark.Related: Hong Kongs regulative lead sets it up to be major crypto hubChina was one of the very first countries in the world to take regulatory action versus crypto.

” In the future, once financiers self-confidence collapses or when sovereign countries state Bitcoin prohibited, it will return to its initial value, which is utterly useless,” the short article read.While its yet to be seen whether Bitcoin is heading to zero one day, it has not lost any value because the Chinese government issued the warning. On the contrary, Bitcoin has actually significantly increased since the short article was published.According to data from CoinGecko, Bitcoin traded at around $20,000 when the Economic Daily released the post in June 2022. In April 2023, Bitcoin briefly crossed the $30,000 rate mark.Related: Hong Kongs regulatory lead sets it up to be significant crypto hubChina was one of the first countries in the world to take regulatory action against crypto.