Everything seems calmed, we were getting again on the wave after those beautiful weeks pumping again to reach our previous ATH and BOOM, big dump for Bitcoin from 52k to 42k level.
What do we had in those moment?
Bitcoin is accepted in Salvador as a legal tender, causality? Of course no, Institutions , I mean big money wants to manipulate markets just to scary us. So then what people thought about that situation as we got that great news, EXACTLY WHAT THEY WANT.
That kind of debate or questions like, Oh my god it's was just accepted on El Salvador and price falled down 20%!
What the hell are they doing? That's shouldn't be a good way to stimulate its economy or just adopt that risky assets to their citizens.
Yeah man, all these kind of questions is what they are waiting you think to conclude that these type of cryptocurrencies have not value at all.
Let's continue...
As we were recovering from those levels at 42 k, we bounced back nicely to 48-49k and what it cames?
THE BIGGEST, THE ONE, THE ONLY Evergrande in the ring, with a large debt behind their seats, common 350 millions debts, whaaaaat?? Is this a LEMAN BROTHERS deja vu, or history repeats? Did we not learned anything? What took them to generate all these debt? I mean ,was they borrowing lending credits without guaranteed loan?
Not sense at all. So okay, as soon as news appeared in all social media, traditional markets, cryptocurrencies, I mean all markets were exploding downwards. But this time Bitcoin has dumped 18,5%, close to 39k level.
Manipulation again? It's very obvious that when big money moves, they just wants shake out all people who are here just by a premonition that Bitcoin will make them rich, all those people jumping in futures with a huge leveraged position and so on. You know why? Simple reason, to buy cheaper when all these gurus who were running out like zebras and sell all their coins dumping enough market where institutions will be ready to take action.
All this situations are showing us the enormous potential that institutions take on us manipulating at its convenience.
RETAIL investors who are a big sum of weak hands, but no worries diamond hands know what they're doing and will keep prices going, or better say growing, as big companies will too.
When the skies was brighting so shiny, and the king was flipping up from those scary levels at 39,5k to 45 k the history continued... BOOM , How could be other?
China intensify its measures to do all the ways possible to ban all what can be related with cryptocurrencies , promising to eradicate any fraudulent activity. Another huge movement to 40.7k level, that's a 10 % dump.
What's new on it? I mean for them Bitcoin was and will be such as an scam, an illegal asset to commit frauds. But there is something that is very interesting, firstly the liquidity crisis affects to the most important figure in REAL ESTATE, Evergrande, and CHINA SAYS, "WE WILL NOT RESCUE THEM" ,like okay they didn't do things well so they will take care of their managements. I'm not wrong at the next day China says okay, to stop worrying investors, society and give them some hopes we will inject 19 millions dollars so by this way we will like "try to help the fall of Evergrande".
And finally then they spit shit on us on Bitcoin, well at may of these current year they was talking about take hard and serious measures on cryptocurrencies and even forbidden all these kind
of stuff, they stopped the mining activity ,so that situation did all miners left China to continue with their activity in places like US.It is clear that China is a great world power and any news that it announces will have an impact in a very significant way, but if cryptocurrencies have come this far for them, why do others worry? I mean, 100% of the economic activity of cryptocurrencies comes from China?
I just can say:
“If the Mountain won't go to Mohammed, then Mohammed must come to the Mountain”
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