After a very powerful run, now Bitcoin and all the alt coins are in the rut. (Including meme coins like DogeCoin , Shiba Inu) .
I don't trade much crypto, it is fun to see how the chart behaves. The trend is certain downwards as China is clamping hard on miners. Most of the global bitcoin miners are centered in China so the rein-in is having huge impact on bitcoin.
China is trying hard to control anything that is related/contributed to shadow banking that lurking behinds its strong arm reach. E.g Fintech lending (need to make sure it is well regulated even legal ones like Ant Finance) & of course crypto.
So , don't try to catch the falling knife! It has not yet reach any solid bottom..
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
I don't trade much crypto, it is fun to see how the chart behaves. The trend is certain downwards as China is clamping hard on miners. Most of the global bitcoin miners are centered in China so the rein-in is having huge impact on bitcoin.
China is trying hard to control anything that is related/contributed to shadow banking that lurking behinds its strong arm reach. E.g Fintech lending (need to make sure it is well regulated even legal ones like Ant Finance) & of course crypto.
So , don't try to catch the falling knife! It has not yet reach any solid bottom..
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock