Bitcoin: A Very Weird Situation

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Bitcoin: A Very Weird Situation
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It’s been an interesting few days. From going from actually bored at the Bitcoin crypto markets, to running around panicking. As extreme as that 180 reaction that is, and how that usually doesn’t age very well, here’s what FUD came out this week adding fuel to that panic.

China banning Bitcoin (again)
France suggesting imposing KYC for, get this, all transactions. Good luck with that.
Mt. Gox definitely ready to distribute $2 billion worth of Bitcoin very soon. As they’ve been saying since 2018.
Citibank downgrades Microstrategy stock from buy to sell. The sheer audacity of a bank no less saying that.

So should we be panicking right now and if so to what degree. Let’s take a look at on chain factors to see if we can glean some insights.

Disclaimer: I am not a financial adviser and this is not financial advice.

#crypto #cryptocurrency #bitcoin

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