BTC and Crypto Take a Hit on China News
Hey Everyone,
There is a lot of interesting news about Chinese Economic instability coming out last night and this morning. The impact has hit all market spaces including #bitcoin and #crypto.
https://www.bbc.com/news/business-58579833
Why is this having such a big impact on financial markets so quickly?
One answer: FEAR
This news could create an extended bear market, or it could correct, but in my mind the only thing worse than holding crypto right now, would be holding fiat. So, I bought some Bitcoin this morning and if the bad news continues, I will buy some more tomorrow.
If crypto is impacted mid-term, and I am not sure it will be, remember if the markets are down that's a good time to stack. The world is still fascinated with crypto, and when big money is moving it is always a great opportunity.
If by chance the crypto markets do take an extended hit, don't forget to get your crypto into projects that help to stack during the down time. That includes defi, Hive, Leo, Splinterlands and other projects where you can earn.
Let's see what happens from here!
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