This is true to some level, the competence between China and USA have reached the highest level. Now China takes the lead in all sectors and as in the above quote it always tries to conquer the respective markets. The same is not possible with bitcoin, because the available bitcoin is limited. Even if the entire farming process happens within China it is impossible to hold the entire fund in government's vault. When China makes it legal with government support they'll try to manipulate, and everytime the reaction won't be the same.

of course this will really help increase the very high market if in China approve crypto because we know that China is one of the most developed countries in the field of trade and there are also many investors in the country and China is also known as one of the big bitcoin mining countries in among other countries, it's likely in my opinion if it happens in their country, maybe this will increase market development by around a trillion.

I think that it would be in trillion for now, because if you look at gold, ever since gold has been In existence with the high rate of adoption for it, it has still not passed much more than trillion, so if china is to legalize cryptocurrency now, it would be that a part of the puzzle for big market cap has been solved which I think that could actually lead to bitcoin reaching the mile stone of trillion.

I really cannot wait for the time that china would actually see the reason why they should accept bitcoin as one single cryptocurrency payment rather than the one they want to create their own currency which I would actually see as a distraction to bitcoin for their own citizens who uses and mine bitcoin a lot.

India is another country that will make a big impact if they accept bitcoin.

capitation can be seen only on a quarterly basis, unpredictable because there must be active implementation, but I agree if it really has a large potential for adoption. capitation will develop from various businesses that use China's stable cryptocurrency. their citizens can develop potential things first, and then move to other alternative coins, they are notoriously quick to adjust.

Quarillion I guess. Well, China is really influential and in terms of their population its really promising. We also know that Chinese are very business-minded and top investors so probably they will increase the number of crypto users the moment they legalized it. They are top manufacturing industries, more likely regarding crypto they are really eager to invest on it and make their own coins probably.

I only hope that their support for the blockchain technology is going to be a support for Bitcoin and altcoins also. But it looks like they are now trying to mint their own digital currency based on their fiat. If this is what is going to happen, how could the price of Bitcoin and of the altcoins grow if they will not be using them? They are going to create their own digital coin based on the chinese yuan.

There is zero affect for bitcoin other than the mining difficulty will be reduced if they ban mining and there are other miners situated world wide and the Chinese miners will move out to safe pastures, so literally there will be no affect on the market.

I remember when the market used to panic when some stupid FUD comes out from China but the market moved on from that stage and no one cares about those FUD anymore, if they ban everything so be it and bitcoin does not revolve around any particular country.

Honestly we don't know, but I think it will have a huge impact on the crypto market as we see how china is reacting to their good developments in the block chain and changing their decision to banned and not banned. So i think when bitcoin and other crypto curency accept by many people and adopt by big company i think bitcoin will be worth much more compared today market cap.

Since Xi Jinping announces the use of blockchain, its making some good spikes in crypto, its not something that people expect that China will have second thoughts in cryptocurrencies but probably due to crypto being unstoppable so they are now considering. The forex market is more than trillions a day of volume so I would expect more than that since everyone is going to be in crypto one day unlike forex where only few are there.