Blockchain in China is in a slow-motion right now, while Chinese love for the blockchain and cryptocurrency has seen a hard fall since president Xi Jinping’s speech expressing his support for the blockchain technology on October 28th. It is reported that the Bitcoin fell from $10,800 to $8,500 is likely to fall further, and in the current situation, blockchain in China is not getting any positive light. Blockchain in China slows down for better? Since the Chinese government established its aims on supporting the development of blockchain technology, hopes for the stronger momentum for the virtual currency market greatly increased.
