Bitcoin crashes After yet another Chinese crackdown How much power does China have over crypto? Speaking of crashes, Bitcoin! After hitting a mid-April high of 65,000 dollars, the price of bitcoin tumbled below 30,000 dollars. And China is to blame.
Bitcoin crashes After yet another Chinese crackdown How much power does China have over crypto? Speaking of crashes, Bitcoin! After hitting a mid-April high of 65,000 dollars, the price of bitcoin tumbled below 30,000 dollars. And China is to blame.
I thought cryptocurrency was supposed to be resistant to things like this.
Technically it is. But it cannot be resistant to people’s perceptions about it, i.e. what, and how people think about crypto.
Resistant against what exactly? The trade value to fiat dropping?
Cryptocoins don’t care what value they trade at. People just treat them like stocks instead of money (to be used) so they whine when it drops, and cheer when it hits ATHs. Same old shit, different day.