Why is the Market Taking a Beat Down Today?

I’m sure you must have heard of the season China FUD. For the past weeks and months China has taken cryptocurrency FUD so personal, from banning banks with crypto related transactions, to banning cryptos and now banning crypto miners.

Although this is not the first time as they do this almost every 4 years, from 2013 to 2017 now 2021. If you check the history of bitcoin you will see that bitcoin always have a major price uplift afterwards. They are giving bitcoin free PR. Their miners are migrating to other crypto friendly countries to continue mining. Their actions can be related to shaking a tree, after sometime nothing falls out anymore. The more they keep causing FUD the less impact it will have.

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