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RE: Do the News and Events move the Cryptocurrency market? You'll be surprised.
It makes sense, that fear and greed are both motivating Chinase government at the same time to close Bitcoin exchanges - fear of loosing control over financial sector and greed to have bigger cut by introducing some new taxes/regulations or a coin controled by them instead of Bitcoin.
Nicely put. For me the key is that China uses the guise of money laundering to mask their fear of losing control of the masses. China also knows that without the support of the masses they are finito.