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Bitcoin slumps in wake of China crackdown
- foolzcrow 5y agoThis is a buying opportunity unless you think digital money is going away. Crypto currency is intended to circumvent governments like China. So China cracking down simply means more room for non Chinese to make money from mining and investing.
- rvz 5y agoWell it's now safe to say that in this case, Coinbase, Elon and their VC friends successfully 'timed the cryptocurrency market' [0] and dumped some of their crypto bags (and stock) in front of all the "Buy crypto now" and "Buy Coinbase stock" crowd alongside with lots of bearish news and fear to manipulate and drive the price down. Both the price of BTC, and Coinbase stock lost half of its value since reaching their ATH. Pays to wait for the hype and euphoria to die (and sell). Then you enter in the market like the whales do when the fear is everywhere. Looks like all the HODL gang and crypto moon guys are real quiet today... Why is that? [0] https://news.ycombinator.com/item?id=26262266 https://news.ycombinator.com/item?id=26262266
- HarryHirsch 5y agoNo surprise about Elon. It's within the limits of plausibility to think that him and a Chinese bitcoiner or blackhat banker joined forces, and that he got out of the market when he got early warning that China would finally shut down the madness.