The last time China explicitly banned Bitcoin, it dropped by around 45% to around $6000. It went on to $20K from there.
But what's different this time is that there are first time investors in millions who joined in the last 2 months. They didn't read the white paper, they didn't invest in technology, they invested for the monster returns. So I think there will be a more sell off this time before it rebounds back to $13K+ or may be the 1000th time is the charm and the bubble actually gets burst.
But what's different this time is that there are first time investors in millions who joined in the last 2 months. They didn't read the white paper, they didn't invest in technology, they invested for the monster returns. So I think there will be a more sell off this time before it rebounds back to $13K+ or may be the 1000th time is the charm and the bubble actually gets burst.