Happy Friday, Blockfolians
What a week it’s been. We started off with Elon battles on Twitter, headed into some good old fashioned China FUD and then crashed straight down a mount on the back of liquidations.
On Thursday we started to regain ground that we lost (Bitcoin was even in the green there for a while), but on Friday morning we got yet MORE China FUD that led the markets to dip again. Bitcoin Magazine sums up our feelings on this pretty well:
There is definitely a shifting conversation around China. Many are pointing out that China banning mining would be a lot better from an environmental/political perspective.
zerohedge @zerohedgeChina is the bitcoin bears biggest friend: as long as bitcoin can be mined in China it is "dirty" Once China bans bitcoin mining there, the anti-ESG case collapse
There’s also a recognition that it really can’t be a Bitcoin bull cycle without at least one big China FUD.
So maybe for now let’s just go have a weekend, shall we?
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