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.

  • ghost_laptop
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    3 years ago

    I don’t feel like the sentence “China is to blame” is fair, I can’t grasp any POV where what they are doing is wrong unless you are a sinophobic, this is tremendously good for environmental reasons.

  • geopoliticssuck
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    3 years ago

    My incredibly volatile and risky investment is a complete failure. I blame China.

  • Nereus
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    3 years ago

    If China has that much pull then you have to question how decentralized cryptos are. All those random ass tokens are still informally pegged to BTC or ETH, you can see it in the charts. Maybe I’m ignorant, don’t understand how one crypto effects a different crypto ecosystem really.

    Proof of work is a big waste of energy so maybe this is a good thing.

    • Halce
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      3 years ago

      Technically it is. But it cannot be resistant to people’s perceptions about it, i.e. what, and how people think about crypto.

    • freely
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      3 years ago

      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.