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.
This is the smartest post I have read in days!! This is the same "cycle" that constantly repeats itself over and over again in the crypto space always has always will.