In China, they believe in the fall of the price of bitcoin to zero

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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. Translation of the material leads edition South China Morning Postreports RBC Crypto.

“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.

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Source: Cryptocurrency

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