中国迟迟不接比特币，美国还能撑多久？

Core Viewpoint - The future of Bitcoin is heavily influenced by China's regulatory actions, which can lead to significant price fluctuations in the cryptocurrency market [1][3]. Group 1: Market Dynamics - Bitcoin's price is susceptible to Chinese regulatory interventions, as evidenced by past incidents where regulatory actions led to drastic price drops, such as a 40% decline in 2013 and a prolonged downturn after 2017 [1]. - The total amount of Bitcoin held by U.S. institutions is significantly lower than the trading volume during China's peak involvement, indicating that U.S. support may not be sufficient to sustain Bitcoin's value [1]. Group 2: Investor Sentiment - The cryptocurrency market operates on confidence, and China's large investor base has the power to influence asset prices dramatically [1]. - U.S. attempts to endorse Bitcoin are seen as efforts to find buyers, but Chinese investors have already recognized the speculative nature of Bitcoin, viewing it as a bubble rather than a stable asset [3]. Group 3: Technological Context - Blockchain technology is thriving in China, reducing the reliance on speculative products like Bitcoin, which contrasts with the situation in the U.S. [3]. - China's strategic approach to digital currencies reflects a level of stability and foresight that is perceived as lacking in Wall Street's approach to cryptocurrencies [3].