Crypto Community Reacts to China Mining FUD, Will Bitcoin Price React Next?5.4

China is home to the vast majority of cryptocurrency miners, as the country is privy to extremely low energy costs compared to the rest of the world. But as Bitcoin price finds new life, lawmakers in the country are considering banning crypto mining among 450 other activities that are deemed to be unsafe, wasteful of natural resources, or pollute the environment.

The news is largely viewed as FUD in the crypto community, who have become accustomed to China threatening crypto in the past. Others believe that the news is actually bullish for Bitcoin, and could help the first every cryptocurrency become more decentralized.

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