Since this post is going to be longer than usual, I will divide it into 2 parts:
Part A - I assume you all saw the headlines that popped up last night from every corner of the world.. "Unprecedented move - China's central bank announced a short while ago that cryptocurrencies are illegal in the country."
Yes, very alarming headlines for crypto holders who panicked and immediately sold all their cryptocurrencies..
If it weren't sad, it would be funny.
And why do you ask..? Because this is recycled news. This recycled news is the 100th of its kind and comes out almost every few months under a different guise, yet still manages to have the same effect – panic in the markets.
Thanks to the kind help of the media, it also succeeds, of course - time after time.
Last night, within a few hours, Bitcoin plunged by about 10%. Panicked investors sold in a frenzy into the hands of whales waiting to snap up Bitcoin on sale with great appetite.
In the picture - history tells: since 2013, the same ritual repeats again and again and again.
Veteran investors no longer buy the story, they laugh and accumulate when the shakeout begins.
And new investors? They panicked, and some even rushed to sell everything - as quickly as possible.
Bitcoin will always be worth 1 Bitcoin no matter what.
Fear in the markets - always has been and always will be.