This is one of the best things that is happening to Bitcoin since its inception... Moving out of China.
To start, Bitcoin is a decentralized network, having too much of it in one single place is no good for any of us.
Remember that China is a country that is anti-freedom, anti-growth, anti-liberty, etc. Many companies have been banned in China followed by great success & growth.
Bitcoin is a network/money that is all for FREEDOM, decentralization, growth, liberty, prosperity and more.
Bitcoin moving out of China means that it will be more decentralized, exactly what it was meant to be and exactly what we all want.
60% of the Bitcoin miners were based on China and this is no more...
As China continues with its policies against Bitcoin, we see it moving to other countries, not just one country but many different countries at once.
We see Bitcoin moving to other parts of Asia... We see Bitcoin moving to South America, Central America and now the USA as well.
This is ULTRA BULLISH, mid and long-term.
Be happy... This is just another road block that we are coming out ahead.
As soon as Bitcoin and China divorce, we can look at/expect, long-term sustained growth.
Namaste.
Kommentar
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Bitcoin's death cross signal explained from my perspective:
you can see it in another angle.bitcoin is all about freedom etc etc which needs to prove its capability in China where there is no freedom etc.
aivainvesting
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@Marketobsrv good point. if it fails in China, can easily fail in other countries in the future. Western follows China in everything they do, but more sneakily and slowly e.g. much longer lockdowns (China did first and Western criticised), ban of Chinese companies (ban of Western there) etc..
AlanSantana
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@Aivabtc, It is not such a good point, people are being forced not to use Bitcoin because the country managers are afraid of it.
AlanSantana
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@Marketobsrv, Google and Facebook banned in China... See the results.
Being banned by a government institution doesn't mean "fail".
Bitcoin didn't fail in China, it is being banned by the government.
omaranmolali
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Opinions do not matter, we are in a market cycle and regardless of the price random news will justify the price. We’re headed to 20k then 16k then finishing off low 12k.
Sam_R3
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@omaranmolali you seem to have a bearish outlook, why the sentiment?
omaranmolali
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@Sam_R3, everyone needs to understand the crypto space is purely a speculative market and has not matured enough to be a market space for all investor types (institutional).
Volatility = Risk = Immature marker space = Speculative Market
Once you see the volatility significantly drop and all crypto’s not dependent on bitcoins price is when you can say this space is based on fundamentals and individual crypto prospects.
We are in a massive market cycle which is pointing to a price reset to the mean or below to start the uptrend again.
DXY up means BTC/GOLD/SILVER/STOCKS down
(Check the charts and dates of peaks and bottoms for yourself)
Sam_R3
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@omaranmolali, I see I agree with you there, just assumed from your language that you were speaking of the price action for the long term timframe I.e till 2022 which is the presumable time for the uptrend cycle to end. Thank you for the reply though.
omaranmolali
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@Sam_R3, the presumed uptrend if the price can stay above the 50/20 DMA and that lagging indicator can golden cross for us… Wyckoff hasn’t completed yet nor SHS / Bearish Flag / KST hasn’t bottomed/ RSI still in a down trend last I checked/ Hash ribbons haven’t indicated a buy. Another drop is due and some bs news will marry it upon its decent.