China is joining the recent crypto-bashing session that has been going on for the last couple of weeks.
There are now reports that China is planning to root out any and all cryptocurrency platforms that operate in any type of fashion that could be construed as an exchange.
A couple of weeks ago, South Korea said they were going to ban all anonymous crypto-trading accounts, and then days later they announced that they were going to make a move to ban all forms of cryptocurrency trading. It seems as if China now wants to jump on board the same type of action, and the crypto market is responding as expected with big dumps once more.
The recent onslaught of negative news has had crypto locked into a bear market for the past couple of weeks and everytime it looks like there might be a recovery, there is another report with negative news for the crypto space.
Most of the overbearing governments are acting as if they have their citizen's best interest in mind, but anyone who isn't half stupid can see through their facade. We all know that big government and big banks are scared the crypto will take their rackets out of business, and that is why the mainstream media is loving all of these reports of crypto banning and crypto-trading bans from multiple countries now.
Some people think that this is just FUD coming from the mainstream media, and while I certainly wouldn't put that past the media, I also believe that there is some veracity to some of these recent reports.
Hopefully, South Korea and China will see that everything is moving towards crypto and realize that this isn't just a fad or trend that can be snuffed out. Blockchain technology is the next big thing, and as John McAfee put it, "Pandora's Box has been opened and there is no closing it now."
What do you see happening in crypto next? Tell me in the comments.
To the moon,
@bwells