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RE: Possible reason for today's crypto selloff

in #cryptocurrency • 5 years ago

Hi @culgin

Thanks for sharing your thoughts on current market conditions. Ponzie schemes in Asia are still "everyday thing".

Personally I'm glad to see that bitcoin and other alts are mostly red. I strongly believe that another bull run is not what we need right now. That would end up painful. This industry is not ready for another 2017.

ps. did you notice that chinese central banks "killed" their own currency just few days ago? In response to trade war and another set of tarrifs, they decided to bring their own currency to level from 11 years ago. I wonder what will happen next.

Upvote on the way :)

Cheers
Piotr

5 years ago in #cryptocurrency by
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     5 years ago 

    ps. did you notice that chinese central banks "killed" their own currency just few days ago? In response to trade war and another set of tarrifs, they decided to bring their own currency to level from 11 years ago. I wonder what will happen next.

    It's probably just the beginning. IMO, the trade war will be rather long drawn. It's going to be a long struggle and China loves to play the long game. However, devaluation of fiat currencies is always good for crypto :)

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