The Chinese New Year (CNY) is a point of fear every year for crypto hodlers. CNY usually coincides with a fat smelly dump when Chinese folk take profits and go travel. The 2018 dump after the 2017 mania caused the Crypto Winter, or a 3 year bear market that we're all just coming out of.
China may dump a bit this year, but it won't be a 2018 atomic dump. Here's why.
— 2017 was a singular case. There were plenty of crypto pumps before 2017, but none like 2017. That was the first time that normie retail got involved, and the market experienced 1990 dot-com era levels of hype and price discovery. The biggest rise in crypto history
— 2021 is not a replay of 2017. We're not in that stage in 2021 even though it may seem like it because ether and bitcoin hit ATH. There is more development in the crypto space, more people, and more money. The rises in price here are natural and justified based on fundamental improvements and use cases for crypto.
— Western institutions are in the space with a "wall of money." If you watched Michael Saylor's bitcoin-for-institutions virtual conference, you got the inside scoop that a lot of money is coming into crypto from Western finance institutions. They weren't even trying to hide this, which means they have already committed and are looking for retail to push their play.
— China knows America is ready to buy. I'm pretty sure that Xi Jinping will disappear anybody who dumps too much crypto, because that's literally giving financial power to the US.
— The Chinese are not traveling this year. Most importantly, this CNY won't feature nearly as many Chinese people traveling abroad to see family this year because of COVID. On top of that, with people staying home, what do you think they'll be doing? That's right! Staying home in Clubhouse and Telegram groups trading crypto. As a matter of fact, an influencer with inside knowledge, Boxminer, said this is exactly what Chinese people were doing, lol.
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Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
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