PBOC over the last 48 hours does what PBOC does best in crypto, stir things up a bit. And what timing, right at the high where they last released news in 2013??? Interesting.
For now however, I do not think this news is awful, what was the message?
Exchanges cannot allow trade washing, or fake volume. (great we have wanted this for years. The only way this hurts Bitcoin is if we find there has been a HUGE % of fake trading taking place helping to inflate/push price upwards)
Be sure to practice KYC/AML (Pretty standard exchange practice)
Be sure to warm of the risk associated with trading Crypto, and that each individual is responsible for their own securing of wealth, there is no insurance.(pretty standard)
You cannot advertise offline. Nor can you advertise that Bitcoin is an alternative to avoiding Yaun Devaluation...(AHA, more devaluation ahead for Yuan?).
Bobby Lee was traveling giving presentations to groups about how Bitcoin has soared in times of devaluation, and it could possibly be seen as a safe haven. They do not want this being promoted, if the continuation path is devaluation.
I haven't yet seen the mega bull trend even come close to being in question. We know we were a bit out of control, and now we're cooling off, and have a very wide range here. Please don't go crazy with margin, and use your SL and TPSL :)
Excellent chart and more importantly, analysis. Thanks. One of your two scenarios is fairly similar to mine: (see the faster version of mine). But I could also see us just continuing right on up if something breaks in china.
The_Goonch
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What is this SEC news?
The_Goonch
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@The_Goonch, Wait, do you mean the ETF? Do you expect it to get delayed again?
faboose
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@The_Goonch, It cannot be delayed again by law. Only approved or denied at this point
The_Goonch
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@faboose, what can the SEC deny an application over?
zippy1day
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I like your orange pattern down! Also, if we are in EW what motive Wave since becoming of time do you think we are in because I am a bit unsure myself?