The cryptocurrency is now in the heights of tribulation and the foundation of cryptoworld has been shaken so hard that the weak were falling. There is bloodbath right now in coinmarketcap site, bitcoin dips even deeper at a range of 6k dollars together with other coins. Crypto receives heavy blows from all angles which add to its ordeal and I don't know when it will recover. Some altcoin seems to return back to its ICO stage due to its price crashed down to less than a dollar. This was so frustrating to some people but for those who are elite to this kind of game, this is a huge opportunity to take advantage and bought a bucket load of coins.
Since last year, we heard it already that China banned bitcoin and other digital currency on their land, they shut down the exchanges to crippled the crypto transaction and eventually stopped the proliferation of virtual currency on its citizens. Before 2017 ends, news circulates on the web that China intensifies its campaign to crackdown crypto transactions and the government was serious to put crypto into stoppage. There was news surfaced yesterday that China completely stamped-out crypto on its territory. They successfully shut down its local exchanges last year and now they blocked the foreign exchanges to stop the crypto trading. Their great firewall was configured to block all crypto sites and even ICO's can't pass the Chinese web security and this will surely eradicate most of our fellow Chinese cryptonians but for those who are internet wizard, surely could find a way to continue their crypto business. This is one of the big factors why bitcoin dipped so hard at 6k dollars mark.
In spite of these things that happened in cryptoworld, I'm still adamant that bitcoin will find its way to recover and will skyrocket again. Behind crypto was the technology called blockchain - and this is a powerful tool that holds crypto on its place in spite of the heavy blows it receives from all sides. China now completely banned crypto in their land so that no one can do transactions in it but I do believe in the saying the goes "necessity is the mother of all inventions" - our fellow Chinese cryptonians will somehow devise a way on how to continue trading with crypto.
