We always knew that bitcoin has plenty of enemies but never before such a well coordinated effort has taken place. You know those guys they call "experts"? In a few years the Jamie Dimon would be called an "expert" because he "called it". Little will people know that he was actually part of the reason the price went down.
Isn't it interesting? A major banking institution that has been bailed out from the government for billions of dollars calls Bitcoin a fraud while the government of China follows up with bans and warnings. Every single day news come up that cause the price to go down. Bubbles don't happen because some major authority figures spread FUD. They happen because the public drives prices to insane levels. This barely happened yet. A small correction was surely due but got amplified when the news were released strategically.
And that's the thing. The public has not even touched cryptos yet. Most of them don't know what they are. Only some institutions have invested in blockchain technologies so far. Jamie Dimon had all the time in the world to call Bitcoin a fraud but he curiously enough called it right after the sugar daddy U.S government hit an all time high (20 trillion) in debt. Sure, Dimon, Bitcoin is the shady one, let us diverge the public's attention for a while...
The Chinese government seems to be drooling all over Bitcoin as well. They want a piece of the action, hence the regulation. Again, they chose this moment to go Mongolian on the chinese people's asses because they are seeing that Bitcoin is unstoppable. Decentralised exchanges are coming soon and there is nothing they can do. So what a better moment other than now to spread FUD and buy the dip while normies sell.
I have been around in the Bitcoin scene for a while and I have never seen this much coordination ever before. If this is not a buying signal, I don't know what is. Mcafee might not eat his dick but rest assured that government officials and Bankers have been eating their nails watching blockchain technologies rendering them obsolete. They know that if they don't adopt, they will perish and they are jumping right in, right now.
