A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?
China is an obvious main player in crypto, with Bitmain having a basically mining monopoly and a ton of other miners ending up on China due the cheap electricity and cheap labour essentially.
This is nothing but more FUD and more insider trading. Look at the PBOC incidents last summer. They were able to dump the market, and the market recovered and we went to an ATH. This is the same all once again. Weak hands will get shaken, strong hands will hold, insider traders will get a ton of BTC from the panic sellers. The same cycle always repeats on all markets.
Thats how it works and you are definitely right on what you have said here on which strong hands will surely remain and buy all those golds which are scattered on the street being sold off buy those weak hands.I do remember on those PBOC event which it did really affect the price but in return we do reach a new ATH which we can really presumed as of now that it would happen again. China is really a big player on cryptoworld.