The China FUD Won't Stop
Happy Friday, Blockfolians
The Lede
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.
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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Highly Relevant Reading
Elon’s debating the Lightning Network on Twitter now so that’s fun
Venmo blocking aid to Palestine
Google search around crypto is breaking all time records
Hey look, we’re going carbon neutral!
Community Commentary
The pros have been accumulating
Confirming institutional buying post dip
A Really Big Number We Should Be Paying Attention To
$10,000
That’s the size of crypto transactions to businesses over which the IRS wants info now
Final Thought
It really do be like that tho