In the latest salvo against BTC-ETH, the nation of China for what seems like that 100th time banned cryptos, but this time for real.
#China central bank reiterates #virtualcurrency “does not have the same legal status as legal tender”. Says #Bitcoin, #ether, and #tether are not legal and “should not and cannot circulate as currency” in the Chinese market. (New part is naming specific #crypto currencies.)
— Eunice Yoon (@onlyyoontv) September 24, 2021
As such, BTC-ETH and the rest of the gang have fallen thru the floorboards and are now sinking even lower. This isn’t earth shattering news, but instead a renewed hatred by the centrally controlled economy of China against the decentralized world of cryptos. I’d imagine this will, at some point, lead to a great buying op.
Futures are off by 100 NASDAQs, as we descend into the weekend without comfort and nothing but angst.
Look at the bond market for signs of real fear. Presently rates are slightly higher, suggestive this pullback os horseshit.
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The Chinese regulatory announcement was posted on September 3rd.
The ship from China containing the mail for CNN just arrived today.
Jebus @jebus911 2h
If you don’t know how this works, basically in the next few hours they’ll come out and say something like “what we said was buying human slaves with crypto is illegal, average citizens are fine to do transactions”
I am 95% cash. Sold ETHE yesterday and today for +45%. Damn woulda shoulda coulda at 45 bucks.
Sold stocks yesterday early.
I’ll stick to day trades for a bit.
Tell us again how THEY (Taliban, AlQaeda, Hamas, Islamic Jihad, isis etc) are NOT the bad guys CNN??
https://nypost.com/2021/09/15/ex-us-officer-claims-taliban-beheaded-two-children-in-afghanistan/
Renminbi flight coming at you.