China’s role in crypto world
Let’s begin with basics China Holds most crypto which holds for about 70% even after several restrictions by the Chinese Government from Not accepting crypto to stopping mining in 2021. The Chinese legislation over crypto is also one of the reasons for market crash. But for facts China also holds largest numbers of miners in the world, China also ended the fundraisers for the cryptocurrencies.
Opportunities for other counties
If we talk about largest countries to hold crypto, your brain will go on default
USA or Russia but the fun part is it’s Africa, Nigeria to be precise (32%) of the crypto is hold by Nigeria
But the question arises how these countries are taking these opportunities?
Whenever this crash occurs countries like these invest large amount of money in crypto for Nigeria alone $400,000,000 (190 billion naira) worth of cryptocurrency was traded by Nigerians
After Ban in China Countries like Japan, USA, Nigeria Has Coined this moment and crypto mining is increasing day by day in these countries.
Crypto And USA
Currently USA is trying to be no.1 in Crypto market by accepting bitcoin and dogecoin as mode of payment Tesla you’re hearing me right, jokes aside USA is trying hard to be next China in terms of crypto mining by implementing less taxes and legislation over the currencies which is like piece of cake for the miners and even endorsement of currency like Dogecoin- you never thought it’ll go this up haven’t you by Beloved Crypto Crasher Elon Musk, These are the reasons why people are interested in Crypto In USA and turning out huge profits
Will crypto last long?
No as Countries Like China and India aren’t confident on cryptocurrencies because of fluctuation in price and inflation countries are not willing to invest in crypto and the major problem is highly priced hardware and as global warming is increasing countries are on the go on green energy and less carbon emission on where crypto mining is totally opposite