Breaking News: Market Dumps following Chinese PR disaster
A PR stunt at a conference in China ( 博鳌区块链) ends up in social media disaster. By using an actor to pretend that "Chairman Mao" endorses Blockchain, the forum risks heavy sanctions and restrictions on Crypto from the Chinese Government.
“Chairman Mao” Blockchain Endorsement: https://radiichina.com/chairman-mao-blockchain-endorsement-causes-consternation/
Sina Weibo Reaction: http://s.weibo.com/weibo/%25E5%258C%25BA%25E5%259D%2597%25E9%2593%25BE?topnav=1&wvr=6&b=1
EOS dumping Ethereum Rumor: https://www.reddit.com/r/CryptoCurrency/comments/8mohnh/eos_causing_this_dump/
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I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video.
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I talk about:
#Bitcoin #Ethereum #Cryptocurrency #Crypto #Altcoins
Hope it recovers soon....
Crypto market is always volatile, it's a great market for trading :)
And also, it still a great market to HODL, especialy good projects, because Blockchain and Crypto's are the future.
Patience is the key. So keep HODLing.
But of course, this is not financial advice! :)
We are at such a critical stage right now and this type of event is making it even more difficult for markets to recover. Now, I believe we need regulations in this space to encourage new money.
I doubt this is what caused the dump, the market is fundamentally bearish because there is no new money coming into the space, this PR blunder certainly won't help the price recover but market dynamics have deeper roots than single isolated events.
Check this out:
Hi Mikel!
Thanks a lot for this informative video and your insights.
It is always the same with that shit. As soon as there is FUD the red numbers follow but whatever I am just looking at the long term.
WOW thanks a lot for the upvotes! I really appreciate that.
These guys need to exit the space and never come back. The organisers of this conference typify the behaviour of the bad actors in this space.
This short video was recently taken at a crypto conference in China, worth a watch, only three mins. The same conference?
As always, China finds another way to f*#k with Bitcoin and the market as a whole. With stunts like these, it'll only sever the stressed relationship China has with cryptocurrency further. It's a shame because China is a MASSIVE market and as we've seen, can prop up the Bitcoin price quite substantially.
China might be a massive market, however I think the redistribution of power to other regions will likely help Bitcoin. I think more decentralization is a good thing.
yeah we need to reach more adoption all over the world ( specially africa since it's one of the only continents that would need crypto and embrace it with ease )
This is almost so embarassing it sounds fake, but nope. Ugh. #Facepalm.
Thanks for sharing