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Elon Musk’s recent tweets have partly contributed to sending Bitcoin and other cryptocurrencies tumbling, and Vietnamese investors into losses and diminishing their hope in the future of digital currencies.

On the other hand, Chinese bitcoin traders still wield ‘enormous influence’ despite Beijing’s 4-year crypto crackdown. Chinese bitcoin traders continue to thrive despite Beijing’s four-year crackdown on cryptocurrencies.

China shut down local exchanges and banned initial coin offerings in 2017, but this year, there have been renewed fears of a harsher crackdown from authorities.

Bitcoin’s price has been impacted by recent comments from industry bodies and regulators regarding cryptocurrency in China.

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