China banned bitcoin because they were very afraid of being rivaled by several countries that had started to acquire bitcoin as a legal medium of exchange. Because China was the holder of the largest economy in the world. Therefore, they banned the circulation of coin bits in their country. the bitcoin.they will slowly be eliminated as the country's largest economic ruler
China banned Bitcoin so often, I personally believe that China and the government in specific has much more Bitcoin than many people want to believe. Getting a huge position in Bitcoin was pocket money for them and maybe they want to hide a majority stake by repeatedly behaving as if they were against it. They may even be against it and purely keep it as a hidden reserve against the world just in case. They still will prefer their transparent systems where they can track everyone down.
It is true that China has banned Bitcoin several times, and if this year China plans to ban Bitcoin again, it is not surprising. There are many reasons
why China did this, but the reasons you mentioned are quite reasonable, it is possible that China has a large amount of Bitcoin. Moreover, China is
known to be the country that is most obsessed with money, therefore China has always tried to dominate the world economy. And China seems to
see Bitcoin as an opportunity to get big profits in the future, so China always spreads FUD so that Bitcoin prices fall. Then they can buy Bitcoin at
a low price, anything is possible. My advice is not to be influenced by news related to China banned Bitcoin, it's an old method used by
the Chinese government, to crash the crypto market.
