Bitcoin "China's Next Time Bomb"

[bitkilo]

The recent tumble in bitcoin, driven by a stampede of Chinese sellers who until last week were willing buyers at any price, has exposed the weakest link in bitcoin's until recently exponential rise: the mood and social psychology of Chinese momentum and bubble chasers, who like clockwork rush into any one given asset, bid it up to ridiculous levels, watch the bubble burst, before moving on to the next bubble.

Read the full article here: https://www.freedomsphoenix.com/News/21 ... e-bomb.htm

[Rmcdermott927]

It's also a targeted move by the Chinese government to burst the bubble as well. Every time the price starts to moon, they announce some pseudo-official regulation or simply threaten further regulations which causes a price tumble.

[bitkilo]

It's also a targeted move by the Chinese government to burst the bubble as well. Every time the price starts to moon, they announce some pseudo-official regulation or simply threaten further regulations which causes a price tumble.

Looks like the scare may be starting to wear off, price is starting to bounce back a little.

[Rmcdermott927]

It's also a targeted move by the Chinese government to burst the bubble as well. Every time the price starts to moon, they announce some pseudo-official regulation or simply threaten further regulations which causes a price tumble.

Looks like the scare may be starting to wear off, price is starting to bounce back a little.

Only mild resistance to $910. Could wind up there by day's end.