Dear fellow investors,
As you have all noticed, the latest announcements from the CCP have had a material adverse impact on the price of BTC. However, let us all remember that the CCP has made similar announcements regularly in the past 8 years and that those have never been been followed by any form of implementation whatsoever. In fact, most Chinese retail traders, miners and crypto finance firms are currently consolidating their positions or entering into long transactions.
One can only question the regularity of the CCP's announcements regarding an incoming BTC ban:
- Once in a while, when the BTC price is high, the CCP announces a BTC ban and Chinese whales conveniently happen to sell whole chunks of BTC at the very same moment;
- BTC price plunges as a result of the CCP's announcements;
- The Chinese whales buy BTC back at a discount;
- The circus repeats itself.
This well-rounded process seems to be nothing more that a very easy way for CCP to transfer money from foreign investors' pockets to Chinese investors' pockets. One could almost say that false public policy announcements spread as fast as Covid-19 did.
Now, you know what happens next: buy the dip... and HODL!
As you have all noticed, the latest announcements from the CCP have had a material adverse impact on the price of BTC. However, let us all remember that the CCP has made similar announcements regularly in the past 8 years and that those have never been been followed by any form of implementation whatsoever. In fact, most Chinese retail traders, miners and crypto finance firms are currently consolidating their positions or entering into long transactions.
One can only question the regularity of the CCP's announcements regarding an incoming BTC ban:
- Once in a while, when the BTC price is high, the CCP announces a BTC ban and Chinese whales conveniently happen to sell whole chunks of BTC at the very same moment;
- BTC price plunges as a result of the CCP's announcements;
- The Chinese whales buy BTC back at a discount;
- The circus repeats itself.
This well-rounded process seems to be nothing more that a very easy way for CCP to transfer money from foreign investors' pockets to Chinese investors' pockets. One could almost say that false public policy announcements spread as fast as Covid-19 did.
Now, you know what happens next: buy the dip... and HODL!