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Bitcoin a threat? Here's what is going on in China's cryptocurrency market

Any announcement from China will affect the market outlook greatly, for better or worse

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Alan Seng | Tech in Asia
If you have been keeping an eye on the cryptocurrency market this week, you would have noticed that the values of most tokens are falling significantly. Why is the market free-falling? What is going on in China’s cryptocurrency scene? Are we entering a bear market? Welcome to State of the Blockchain, where we take a look at all the events that happened in the blockchain scene in the past week.
 
Free-falling market

The total market capitalization of all cryptocurrencies decreased from about $164 billion to below $119 billion in the last week, according to data from Coinmarketcap. Bitcoin