1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:

[beenz]

The evergrande shyt is about to crash their economy

they don’t want people taking their $ and throwing it in Bitcoin

they want that money in their economy

I JUST mentioned this as well.

so if everyone seems to know this, why won't their govt intervene and NOT let that happen? a lot of the chinese wealth from the regular folks will evaporate if evergrande goes bankrupt.

 

[beenz]

China controls the world man

no they don't. not as long as the dollar is the world's currency.

 

[YaThreadTrashB!]

I JUST mentioned this as well.

so if everyone seems to know this, why won't their govt intervene and NOT let that happen? a lot of the chinese wealth from the regular folks will evaporate if evergrande goes bankrupt.

Owe a bunch to foreign investors

 

[NotaPAWG]

 

[beenz]

Owe a bunch to foreign investors

sounds like they are fukked.

evergrande was overleveraged, and all of the sudden, the chinese gov't decides to change the rules regarding how much they can borrow and how much cash they need to keep on hand.

I'm still not 100% clear on the bitcoin angle with them tho.

 

[null]

so if everyone seems to know this, why won't their govt intervene and NOT let that happen?

because that makes market excesses worse in the long run. and plus that is not how markets are supposed to work.

a lot of the chinese wealth from the regular folks will evaporate if evergrande goes bankrupt.

if anything they will protect ordinary people and make corporates foot the bill.

 

[YaThreadTrashB!]

sounds like they are fukked.

evergrande was overleveraged, and all of the sudden, the chinese gov't decides to change the rules regarding how much they can borrow and how much cash they need to keep on hand.

I'm still not 100% clear on the bitcoin angle with them tho.

They have a whole bunch of companies doing this right now


When those bills come due they are fukked completely

 

[beenz]

They have a whole bunch of companies doing this right now


When those bills come due they are fukked completely

could that fukk us over here?

 

[YaThreadTrashB!]

could that fukk us over here?

It well



But not as bad as China

 

[ORDER_66]

China playing too many games knowing full and well they have literal mountains of cash thanks to the I'm.s. to survive anything... they just don't want their wealthier citizens moving any funds into crypto thats why they banned it but they hypocrites because they just sold off a chunk of btc them damned selves!!!

 

[the bossman]

China wants to control their people. Financial freedom means they can't control them. United States is no better. These countries always want to hold folks in debt and as wage slaves.

It's for the good of our economy

 

[mannyrs13]

It's for the good of our economy

Keep the poor poorer, and the rich richer.


Things likely get worse for next few weeks. Some coins may stabilize, others may drop further down.

 

[FaTaL]

is this all about????

is china scamming?

Every couple of months they scream about crypto like a 5 year old child

 

[NotaPAWG]

China fud didn’t help with price action but BTC was gonna head back down anyways, just sped up the PA. I remained cautious and profited from up and down trend.
Macd on 2 & 4hr was gonna be flipping red anyways and sell off was incoming…


I flipped short from my long last night on FTM when it topped out around 1.27 made some good money going up and on the downtrend

Going by the ema trading strategy it signaled we’d be heading back down,

Ema indicator below = uptrend, once it crosses and is above = down trend

IE

 

[Red]

I went long with another $15k at $41500 region, but I think there's a good chance we see lower so I've held back another $15k in case.. confident about where we'll be this time next year