Chinese are Not Coming to Bag Bitcoin: Analyst

The bitcoin price climbed by more than 40 percent after China’s President Xi Jinping endorsed blockchain technology in his speech on October 25. Global outlets were quick to correlate the two events, stating that investors [probably] increased their holdings in bitcoin, hoping that the Chinese people would also do the same by taking cues from Jinping’s blockchain support.
But, according to market analyst Alex Krüger, the benchmark cryptocurrency will have a difficult time attrac