China’s Fud or Food by Dipo_adedotun
If you’ve been reading the news lately, you’d see article making rounds about the Chinese government ban on Bitcoin and all other cryptocurrencies transactions are declared illegal and they even went ahead by banning overseas crypto exchanges from providing services to investors in the country(China).
And from the update on it’s website, the biggest financial bank in China(The People’s Bank of China) announced that it will ban financial institutions, payment companies, and internet platforms from equipping cryptocurrency trading using their platforms but I can confidently tell you that crypto can’t be banned or erased from existence as I’ve seen the Nigerian government tried banning crypto as well, but what happened afterwards? There is going to be huge surge in crypto prices as their move(banning crypto) would only make it more popular and the rate of adoption would surge.
And to be honest with youth news made bitcoin value dropped by as much as 4.5% and the value of Ethereum dropped by 6.6% but may I take your memory back as far as October 2017 when China banned bitcoin, the price of bitcoin is around $6000 then and I’m pretty sure we all know the price of bitcoin today, as we normally said in the CT(Crypto Twitter) that whenever the Chinese government are trying to spread FUD(Fear,Uncertainty and Doubt) then this is a buy signal for the diamonds hands and to be honest with, thats the best way to make good money off crypto…you have to be greedy when others are fearful and be fearful when others are greedy.
Whenever there’s a news like this, you have to consider two things, would you trust your investment(the particular token or coin you are holding) or would you rather trust the news(people or the government trying to create fear in the market so that the paper hands could abruptly sold their tokens/coins and they could buy them cheaply in the market), please don’t be that paper hand who would sell off his/her tokens at the slightest dip in the market.
The government only want what’s best for their cabals and not what’s best for the general masses, when you are reading this article, I want you to think deeply on what’s really matter to you…your financial freedom or what the government wants? Well I know my answer and I’m sure you really know your answer as well. I see the china ban as the kid that keeps threatening to leave home if nobody gives them what they want. They have been working to develop their own cryptocurrency as well and they wanna create FUD so you’d sell off your coin and they’d buy it cheap then they force their token on you.
Last but not the least, if you are reading this I want you to head to Intercoin.org and read about the token and how it could take power off the government and give it to us(the people) and led us to the path where the true financial freedom lies await, its an ERC-20 token and it’s listed on the Defi exchange(Decentralised exchange ) where the government doesn’t have no power to ban your trading or threatened anyone…