Chinese media outlets published a news item that urges the citizens to focus more on Blockchain technology than on the “hype” of Bitcoin prices across the board.
China Focuses on Blockchain
It has been stated that the recent rally in BTC prices has no clear explanation. But the reporters behind the article, Mao Zhenhua and Zhang Xiaohui said that people should focus on pro-blockchain state policies.
In the brief piece, the state-run press agency ensures that people are “gradually seeing the potential of blockchain technology and technological progress and regulatory escort are going hand by hand.” It is in line with the state’s negative stance on the surge of interest in BTC and altcoin.
The article also noted that while crypto trading represents an investment method that only generates “uncertainty,” blockchain technology is within a “narrow right path,” the results will be “fully realized” in the future.
It is not the first time that more prominent Chinese media outlets have referred to BTC prices. They have had a history of evading the mention or report on cryptocurrencies in their editorial articles.
Bitcoin and other cryptocurrency-related activities are being marginalized because of its crackdown on the industry in 2017.
The Chinese government also continues to push its boundaries to make the digital Yuan altogether a reality, as the People’s Bank of China (PBoC) published a draft law on October 20 that gives legal status to its primary digital currency (CBDC).
The Chinese government also continues to push the boundaries that make the digital Yuan a reality, as PBoC published a draft law last October 20 that gives legal status to its CBDC.
Bitcoin Interest Surges
Not only have Bitcoin prices reached notable highs this year, close to the $20,000 threshold, interest in the term “bitcoin” hit an 18-month high. The last time the part touched that level goes back to June 2019, while an all-time high in searches was seen in February 2018.
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