https://www.zerohedge.com/crypto/china-selling-seized-crypto-top-coffers-economy-slows-report
haha trading ban
i think that this is the headwind that #bitcoin is currently facing, governments are using it to shore up their balance sheets, when shitcoins go down, people cash out, or at best they sell bitcoin to shore up their balance sheets
the fact that gold is going up though is bullish for bitcoin in the medium term, some number of the goldbugs are gonna dump their yellow metal for the orange coin, and i don't think we have seen the end of this gold rush by far, because if trump reshores industry that means they have to export and keep the dollar down which means that everyone else will be dumping dollars to buy something else... which is also going to mean bitcoin, probably, after gold and then silver
there's a circular logic to all of this but the most strong sign is that if the dollar stops being a reserve asset, then what else could step up to take its place, other than gold, but bitcoin
bitcoin is inflating slower than gold is, so it's inevitable
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