Post
Topic
Board Speculation
Re: BTC is recovering or what if not
by
iwishicouldfly
on 02/02/2018, 22:17:22 UTC
If it seems to me that bitcoin can still go down again, it's because it's closer to Chinese New Year's Day, which sells bitcoin to get fiat money, for their New Year's celebration, and it's like a seasonal cycle, because bitcoin is mostly owned by china.

I live in China, this is false.  Most people in China think bitcoin is a SCAM and those who don't and know how to trade in bitcoin are wealthy enough in savings that they don't need to sell bitcoin to buy stuff with FIAT, they have plenty of FIAT in the bank.  This is just a wishful explanation of the current situation.