Web Analytics
Friday, November 8, 2024

Chinese Communist Party Newspaper Predicts Future Bitcoin Crash to Zero

The authorities of the country believe that sooner or later investors will lose confidence in cryptocurrency, and governments around the world will declare it illegal.

The price of bitcoin could drop to zero, according to an article by the Chinese newspaper Economic Daily, which is run by the Central Committee of the Communist Party of China. The translation of the material is provided by the South China Morning Post .

Bitcoin is nothing more than a sequence of digital codes and its profits mainly come from buying low and selling high. In the future, when investors lose confidence or when sovereign countries outlaw bitcoin, it will return to its present value, which is completely negligible,” the article says.

China’s largest messenger WeChat has updated its terms of use , prohibiting the posting of information about services and services related to cryptocurrency or non-fungible tokens (NFTs).

At the end of September 2021, the People’s Bank of China banned cryptocurrency transactions. The use of digital assets in the country is equated with illegal financial activities.

Tight measures against cryptocurrencies began to be introduced in China at the end of May 2021 after the call of the Vice Premier of the State Council of the People’s Republic of China, Liu He, to tighten the regulation of digital assets.

Related Articles

Stay Connected

3,477FansLike
4,500FollowersFollow
1,200FollowersFollow
3,912FollowersFollow
1,222SubscribersSubscribe

Explain Crypto Staking? A Step-by-Step Guide

staking, crypto staking, proof of stake, PoS, passive income, blockchain, cryptocurrency, Ethereum, Cardano, Solana, crypto rewards, crypto investment, crypto wallet, crypto exchange, crypto security, crypto regulation, DeFi, decentralized finance, financial freedom, financial independence, blockchain technology, digital assets, future of finance, tech trends, investment strategies, risk management, financial literacy, online earning
0
Have you ever wondered how you can earn passive income while contributing to the security of a...

How to Start a Crypto Portfolio: A Beginner’s Guide

crypto portfolio, cryptocurrency investing, how to start a crypto portfolio, cryptocurrency tips, investing in crypto, crypto assets, risk management in crypto, diversify your portfolio, crypto market trends, blockchain technology, cryptocurrency education, digital assets, crypto trading strategies, altcoins, Bitcoin investment, Ethereum, NFT investments, DeFi, secure your crypto, portfolio tracking tools, market analysis, crypto news, investment strategies, cryptocurrency for beginners, long-term investing, short-term trading, crypto security, cryptocurrency regulations, wealth building, financial freedom
0
Starting a crypto portfolio can feel both exciting and overwhelming. With terms like "blockchain," "altcoins," and "wallet...

Latest Articles

Random