Bitcoin Price continue to go down and this Friday was negotiated below US $7000 ...since May The "King" didn't know that Price. There could be many reasons for that Drop: Manipulation ,Huge sell- Off or the Process "China"...
I prefer to believe that China is playing a "dirty game" here and that Politics of "Blockchain yes and Bitcoin no" is making effect.
After Xi Jinping endorsement and the Country to adopt the Blockchain Technology to implement it on the Industry and services,the same Government updated also the regulation about Cryptocurrencies In the Country, remembering that crypto are still illegal in China.
That for me it's a movement that is confusing the crypto market. For one side they accept the Blockchain Technology and using that will implement their CBDC and in other Hand they insist that Bitcoin still illegal.
China has a powerful economy and not allowing crypto currency,like Bitcoin, for me it's a game being played to drop the price,acquire more Bitcoin and make it Reserve[ economic war Between China and USA] and Then Release their CBDC.
Doesn't make sense to create a digital coin backed by Blockchain and ignore Bitcoin ...the Blockchain was made to Bitcoin and now they will issue a digital coin and ignore the main Cryptocurrency for the Blockchain?! Impossible...
* Those are just my humble opinions about all the BTC drop... i am not analyst..that just pissed me off and you free to share your opinions In the comments section.
Original Posted at the Uptrennd Platform from my Authorship Here.
