Bitcoin was falling down like crazy continuously for a week, When china ban on ICO's. After a Huge fall down, Bitcoin is surging up now with 12% of increment in 24 hours. All buyers who have bought bitcoin when it was surging high are happy now. The coin market growth is mostly related to Bitcoin, because all other crypto coins follow bitcoin. If it falls, all likely to fall and if it soars and most of the coins will soar up. So all other crypto coins also running in positive side.
But the traders not happy yet, because they have seen huge price for one bitcoin in this month which was $5000 high. They are waiting for the same high price. But the question is..
Can Bitcoin Reach $5000 Again Without China?
Well the answer is yes. Because the bitcoin is people's currency and it's a digital asset. When you look at the technology perspective. People will never stop mining the bitcoin irrespective of the situations. And developers will keep on inventing new projects by creating great code.
Digital assets can be considered as the commodities trading on supply and demand. Even though China has banned 'ICO's it's just a small effect on the coin market prices for a small period of time. Previously, China has banned Google, Facebook and twitter. But these companies are doing very well at the global level.
Likewise, Bitcoin price might be in loss now, but it's just for a small period. It will soar up again like it will cross $5000 for sure. Bitcoin will never die. Because other biggest populated countries like India is looking at bitcoin and other crypto currencies to make them as the legal Trading.
Many People from the developing countries in Asia and Africa are stepping towards the these digital currency/assets. And they are very positive about it. Soon we all can see that many governments will approve crypto trading as the legal trading.