Cryptocurrency market could explode untimely

Although the recovery is slow, the cryptocurrency market in the last 24 hours showed an estimated rebound of over 0.5%, bringing the Bitcoin to stand at $26.859 at the time of writing.

However, as of today, the wave of media and regulatory attacks against the cryptocurrency market has not ceased, which in some way, as I have been insisting, has been the negative trigger that has impacted the price action of cryptocurrencies.

In this sense, in the midst of media and regulatory attacks, today a positive news was added that from my point of view has had a positive impact in favor of the price action of cryptocurrencies.

When I say that today a positive news was added that has impacted in favor of cryptocurrencies, I am referring specifically to the certain fact that the Asian giant is preparing to lift its ban against cryptocurrencies.

China being one of the largest economies in the world, its stance against or in favor of cryptocurrencies has always had a profound impact on the market, yet China's historical relationship with cryptocurrencies is complex.

Analytically, therefore, an understanding of the reasons behind its notorious bans and an examination of the possible implications of lifting China's ban is required, which in the short term could undoubtedly impact cryptocurrencies and accelerate the bullish rally that has been long awaited.

It is being speculated, that there are recent signs suggesting a possible change in policy, the future of cryptocurrencies in China is at stake, which promises significant repercussions for the industry worldwide, which in my view the cryptocurrency market could explode untimely.

BeinCrypto. Get ready for boom: market could explode if China lifts its ban. Link

The cover image was designed by the author: @lupafilotaxia, incorporating image: BeinCrypto