it's the same trick at 2017-2018 when china grounded bitcoin when they are biggest bitcoin owner.
dump and buy, then pump and sell, I don't want to but follow them, you'll get money, not as much but still got money. I often cut loss but still make money when buying at dip
Well, China may not have caused the major dump down to $7.5K but, China with has in the past almost always, (hell, always) when China thinks BTC exuberance has reached
too high a level slaps it down. This is a very common tactic. Indeed, on China promoting their own crypto coin and blockchain, it should have been no surprise the backlash
against Bitcoin and Altcoins.
So, I don't think the big dump was China. I do think the dump from like $7.8k to current $7.1k now contributed heavily and could indeed drive it lower, but I still think
'miner capitulaztion' is the real culprit and that will take 2-3 months for folk to realize that the tide has turned and their Bitmain S9's or equiv (about 60% of sha-256
miners if I had to guess) are gonna fall off the network. When that happens, I expect a pump in price again, with these 'boat anchors' cut loose.
as always we will see
brad
