Chinese state media warns against cryptocurrency as bitcoin rallies

China’s Economic Daily is state-sponsored media, another mouthpiece for the Chinese Communist Party.

Taking aim at crypto, saying that “wild fluctuations in bitcoin’s value remain the norm, and cryptocurrencies have yet to enter the mainstream”.

Trading crypto is banned in China. But, its increasingly mainstream just about everywhere else.

If that’s too bullish for you, JPM agrees (at least for near term):