In a nutshell, why is the Market falling?
If you almost got a heart attack this morning after looking at coinmarketcap, and you still don’t know the reason why this is happening, then let me be the one that sheds some light to you.
Its China again, this time calling for a wider ban on services related to cryptocurrency trading in the country.
So just like the last time were they banned ICOs once again the market is responding with the usual FUD, however I would like to leave you with a quote by Warren Buffett that has been very useful to me since I started in this crypto space an has helped me make some of the biggest gains, “be greedy when others are fearful and fearful when others are greedy”
If you want some more details here are some links that explain the issue in greater detail:
https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/
Spot on. I think smart investors are seeing this recent China FUD as a great opportunity to not only get cheaper Bitcoin but it will also open the flood gates for new investors who were waiting for a dip. Market correction is healthy and for Bitcoin after rising so fast beyond $10k, it was long overdue to be honest.
And to see what is going to happen, we only have to look back mid 2017 when China banned exchanges and ICO's, the market went into free fall. Shortly thereafter, it rallied back quite hard and altcoins followed. This is a massive buy-in opportunity right now, not just Bitcoin but most altcoins as well.
We are going to be seeing a new all time high when Bitcoin bounces back, upwards of $30k+ and it will be biblical.
Definitely, at the end all the people panic selling right now will buy back at higher prices like they always do. Buy the FUD sell the FOMO ;)
Simple Words: a medium-sized player is exiting the market and the crowd is following!
Great information man, that is one of my favorite quotes as well from any investor. Buying when their is blood in the streets is one of my favorite investing concepts, only when I am buying solid assets/ cryptos though! I'm just glad to see many people are posting about the real reasons behind the crash and showing that it has nothing to do with whether the cryptos use cases are legitimate or not.
I followed you to read more of your thoughts on these matters, and all things crypto really!
Thanks man it means a lot, at the end of the day the people trying to use this pullbacks to bash on crypto are the ones that not only don’t even understand the technology behind them but also the ones that don’t realize new all-time highs after this pullbacks make us stronger and give us more credibility
South Korea find according to news sources
China and SK probably doing this so they and Russia can buy a shit ton on the open market. Don't think for 1 sec these countries have no vested interest in Bitcoin. China most certainly would do such a thing. Surprised US politicians haven't tried this bullshit yet so they can score some cheap Crypto. This to Shall Pass.