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Bitcoin Supercycle Possible if China Allows Cryptocurrency Trading

BeInCrypto ·

HSDT
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  1. 1Joseph Chee said the next Bitcoin supercycle could begin if the Chinese government allows citizen trading under strict control.
  2. 2China has recently faced internal pressure, recording 670 rural bank closures in an annual tally.
  3. 3The Hong Kong government and the Securities and Futures Commission plan to introduce legislation to license cryptocurrency dealers, custodians, advisors, and fund managers this year.

So what's the key point?

Bitcoin could see a massive rise if China allows cryptocurrency trading under regulation. This is a significant change for investors as Hong Kong prepares to introduce a licensing system for the industry.

Source BeInCrypto · View original ↗

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