Explain the cause of Bitcoin 'not coming down'

[exstasie]

China is the country that helped push Bitcoin up 40% in the last 7 days. Do you think so?

It may have helped push prices higher, but the recent rally was much bigger than just Chinese demand. This was pent up demand (including lots of shorts being squeezed) hitting very low supply, across the board. If you compare order books across exchanges, spot exchange supply is very low right now. Thin ask sides like we're seeing now is characteristic of any bull market.

In my opinion then with US trade - China is tense. Chinese investors are trying to drain their money to other assets like USD and Bitcoin, they think the yuan will continue to devalue. President Trump has increased taxes on China in the past 2 weeks, making the yuan 2% lower than the USD. Some people worry that China will reduce the value of Chinese currency to help cheaper Chinese goods to compete with US products despite tariffs. Therefore Hong Kong wealthy merchants are withdrawing money from China

Meanwhile, China is blocking people from selling the yuan and very strictly transferring money from the country, and Bitcoin is the only way. According to calculations by experts, 20% of Bitcoin trading volume comes from China

Chinese people are definitely using Bitcoin as a means for capital flight, but it's a drop in the bucket compared to the multi-billion dollar Chinese shadow banking industry, exits to real estate, etc. The crypto market is still quite small for large capital flight. There are much better means for Chinese people to get their money out of the country.

[BitHodler]

I heard of a news that some banks entities invested on digital market big time. I think it was $50 million. If that's so, that is a mass adoption of cryptocurrency.

News outlets don't know more than you or me, so I doubt they have any type of insider that knows who or what invested large amounts of money in Bitcoin. If they can't back it up with evidence, then ignore it.

Another thing is that financial institutions tend to use proxy companies to invest in risky or not so popular industries, so that offers them an extra layer of privacy news outlets won't likely be able to crack through.

Fiat exchanges are the only entities that know how much money goes in and out, not copy and paste news outlets. They just want to sell you an interesting article because people love to read news about institutions buying in.

If you ask people what the next bull run trigger will be, most of them will answer with institutions.

[LUCKMCFLY]

I think the natural cause that Bitcoin does not go down is because the market is moved by the Strong Hands and the big speculators, that is, if they do not have in their plans to lower the bitcoin price, this will not happen, there may be many sales massive but they will not be as impressive as the sales or the Shorts that can be made by the whales or Strong Hands, practically the market moves is for it, I do not think it is for China or the USA, nor for tariffs, the investors know that having a The economy based on cryptocurrencies are willing to be at risk because of the high volatility of bitcoin.
New investors have many doubts, some like Warren Buffet, are big in investments but they are not very clear on how they can make profits or maybe they think it is very risky to face the bitcoin speculative market, this is normal, there are all kinds of investors , and there are also investors who trust directly in bitcoin and in the phases of the market that passes through it, that is, it is clear that bitcoin has to turn completely to a bullish trend and once it happens it will have a brake on the stage of distribution, a stage where always the ideal is the sale of the same, this seen from the point of view of the speculator.
And if from the point of view of the Investor it is simple because you simply have to follow up on the investment and start to see the benefits over time, that is, you can wait months or years if necessary.