Some elements within the Chinese government have opened major short positions on Bitcoin right before announcing major FUD. They have done this at least three times since 2013. I think this last one in May will be the last effective one. Not only because people are catching on to the scam, but also because they have now driven out most miners from the country and banned all transactions. This was perfectly timed with Elon's flip-flop. Elon was then immediately awarded by the Chinese government (where he had previously been struggling with red tape and bad press). The only arrow the Chinese Communist Party have left in their quiver is to ban possession, but that would be impossible to enforce, and would only make the CCP appear weak (the thing they fear the most) due to their inability to effectively enforce. So I think we are at or near the end of the Chinese short-crypto-then-FUD scam.
[link] [comments]
No comments:
Post a Comment