A Chinese Communist Party newspaper has warned investors should be prepared for the bitcoin price to hit zero...
... [+]The bitcoin price went on to rebound as miners set up shop in the U.S. and other countries around the world only to begin to slide again late last year as
the Federal Reserve said it would begin hiking interest rates in an attempt to drive down surging inflationThe U.S. and other governments around the world have stepped up efforts to regulate and rein in the volatile bitcoin and crypto market in recent months—with theblaming a lack of regulation for creating a market"full of manipulation and pseudo-technology concepts."
In November last year, Berkshire vice chairman and Warren Buffett's right-hand man Charlie Munger praised China president Xi Jinping for banning bitcoin. "He was smart enough to ban bitcoin in China, and with all our presumed advantages of civilization, we are a lot dumber than the communist leader in China," Munger said.
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