Opinions are my own.
On 25th October, $BTC spiked and major uptrends can be seen for some anchoring coins perhaps largely due to the #FOMO mentality as President Xi announced that China should seize the opportunity of blockchain, egging on to be at the forefront of the race.
And everyone in the industry knew for the fact that cryptocurrency is banned in China however cryptocurrencies are strongly backed by blockchain technologies. It’s somehow linked as majority of the successful decentralized applications (DApps) are either found in China or US.
It’s a good breakthrough as it meant that more companies, especially the major corporations would explore the usage of blockchain technologies as many are afraid to take that bold step when the blockchain technologies are mostly in their infant stages.
At this present time, there is still a lack of successful use-cases to validate. With support from key leaders, the key of confidence is then injected and definitely, a boost is seen.
The future is hopeful, at least with the current factors and the boost. 🙂