If China does not open up and support the Bitcoin market, the price of Bitcoin will not rise. There are three reasons:

1. The entry and exit channels for Bitcoin and RMB are blocked. Among Chinese officials and private citizens, it is difficult to exchange Bitcoin with legal tender. Although third-party payment is enabled, bank cards are strictly controlled and mainstream funds cannot enter the currency market.

2. China’s universal payments are WeChat and Alipay, and these two payments are restricted by China, which restricts and excludes Bitcoin, etc. It is difficult for Chinese funds to enter and withdraw. The public generally does not approve of it.

3. China is a rapidly developing country in the world and has a certain status in the field of blockchain technology. Chinese capital is basically domestic. It is extremely difficult for Bitcoin to continue to develop.

Without China’s open policy, it would be difficult for Bitcoin prices to rise