Crypto BOUNCES 25%, Did We Hit Bottom? Finally out of the woods with China?
Bitcoin and the crypto markets bounced HARD over 25% in 4 hours, on news of out China. Have we finally hit bottom, or are we in a bull trap? Are we out of the woods with China's regulation yet as well?
I talk about my opinion on the subject. My recent entry points and more in this video.
Buy Bitcoin, Ethereum and Litecoin on CoinBase and get $10 worth free:
https://cryptobobby.com/coinbase
Secure your Crypto with a Ledger Nano S:
Amazon (faster shipping):
https://cryptobobby.com/ledger-amazon
Ledger (slower shipping, but cheaper): https://cryptobobby.com/ledger
Get a Free Trial of Coinigy (the trading/charting software I use):
https://cryptobobby.com/coinigy
Follow me on Steemit:
https://steemit.com/@cryptobobby
Follow me on Twitter:
https://twitter.com/crypto_bobby
Join the Facebook Group:
https://www.facebook.com/groups/14092...
*Some of these links may be affiliate links, meaning if you click and purchase something, I may receive a small commission at no additional cost to you. I only recommend companies and products I personally use, and any commissions help to pay for content creation. Thanks! *
** This is not financial advice and these are simply my own opinions, as such, this should not be treated as explicit financial, trading or otherwise investment advice. **
If Chinese investors can't invest via exchanges, they will start buying up miners. This is why mining is so popular in China: cheap electricity and a great way to obtain crypto with no paper trail.
I'm guessing that the major exchanges are not actually shutting down for good. This is most likely a temporary halt to appease the authorities who are looking for more strict KYC/AML protocols to be implemented.
My 2 Satoshi.
Individuals don't have the money to make a dent in mining. It's just not feasible. Unless you're able to spend thousands and thousands of dollars on ASIC's, you're not getting anything BTC.
They'll find another way to get BTC, or (hopefully), Chinese regulation will come out shortly granting OKCoin & Huobi specific bit licenses to operate under govt guidance
I agree with you about the regulations. This whole fiasco is way overblown and the major exchanges will likely be granted some type of license in the near future. As for mining, if you're a somewhat wealthy Chinese national looking to get into bitcoin while concealing your personal info, with funds obtained via questionable means, mining is not a bad way to go, no?
The newest bitcoin miners from Bitmain are pretty good value and you now have two chains to mine: Bitcoin and Bitcoin Cash.