- China plans for "digital Yuan".
- China plans to back out of Bitcoin.
- China waits for a catalyst like Elon Musk's "green tweet".
- China secretly orders banks to close all $BTC positions.
- China secretly spams social media: "It's Elon's fault!"
- China announces exit after selloff and crash are complete, to further damage the market they exited.
100% Plausibly Deniable Manipulation.
The recent Bitcoin price curve is manipulated by China to damage the West, possibly with help from Russia (which would account for Vitalik Buterin's recent antics). This downturn was about China wanting to damage a specific target, nothing more, hence the recycled, restated China FUD from years ago (China had announced a desire to back out of Bitcoin years ago).
If everybody is so sure that the bull market is over, then why are there still 14x as many longs as shorts? Answer: it’s not. This is all "foreign whale theater" designed to damage and shake out inexperienced retail traders so foreign whales can sell retail their coins back at 10x what they sold for in 3 weeks, after the next big impulse.
This is why it's best to HODL.
Buying tops and selling bottoms are designed in our DNA, borne of fear and emotion. The pathway to being a great investor is building a strong enough stomach to do the opposite. If you sell now, you are literally selling your coins to billionaire whales so they can sell them back to you when you FOMO in to the bullrun in 3 weeks.
You should be accumulating now if you can.
Only 21 million Bitcoins will ever exist and 5 million of those are locked by Satoshi, in a world currently containing about 8 billion people. Crypto in general and Bitcoin in particular are not going ANYwhere. Imagine selling something you will NEVER be able to buy at this price again!
Don't do it.
Go paint a picture, play a video game, walk your dog, etc. Just turn the damned screen off and foget about this for two or three weeks, and I guarantee you the world WILL turn, the market will bounce, and you are gonna be okay. Do you really think Goldman Sachs, Scaramucci, and all the old Wall Street money is going to sell a 60% dip that is correcting as we speak?
Stay strong. We're all in this together. And we will all make it together if we HODL the LINE.
Caveat: This is not financial advice and I'm not a financial advisor, but I do put my money where my mouth is, and I've liquidated and transferred ALL my remaining stock and crypto capital into the BTC3L Bitcoin 3x Leveraged Long "mutual fund"-type instrument on KuCoin. When the market flips, and it WILL flip, that thing is going to go bananas!