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