I think we are ALL forgetting that China has PREVIOUSLY banned Bitcoins.
First they banned the bank accounts of exchanges.
Then they restricted capital outflows out of China from exchange accounts.
Then they enabled fees on trading within Chinese exchange (previously there were no fees and trading in Bitcoin on exchange websites was done for free)
Here is a graph to illustrate EXACTLY how many times the Chinese Government has stepped in to try and control the growth of cryptocurrency.
Note that the Chinese have done this so as to 'strengthen' their own national currency. This is VERY INTERESTING as Bitcoin is now seen as a THREAT to a country's currency.
Refer to the below for a correlation between the Chinese Yuan (CNY) and the price of Bitcoin
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Even Venezuela is seeing a STRONG demand in Bitcoin due to the systemic weakening of their own country's currency.