Bitcoin dipped to $40,700 yesterday as a result of the Chinese clampdown but has now rebounded slightly to around $43,200. Thankfully one country can not stop the mighty power of crypto and China's crypto blanket ban did not crash the market, as it probably hoped it would.
Beijing stated that the reason for the ban was due to the significant disruption caused to the financial order by cryptocurrencies. Well it comes as no surprise that crypto is a disruption to the established financial order in many countries across the world, that's what makes crypto so damn great! Crypto offers us ordinary people a bite of the cherry, and makes money not just attainable by the rich and the powerful elites.
The Chinese authorities also stated the ban was necessary to 'protect' people's property from economic harm. We had to have a huge laugh at that one! The reason we enjoy crypto so much is that it is money which central banks can not control. China thought it might be able to diminish crypto but it looks like it will only achieve a minor dent. That's the awesome power of crypto - it is money in the hands of us ordinary people which governments can not take from us. Not yet anyway, but they will keep trying.
The ACOM Team
A C O M
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maybe they are just trying to buy the dip :)lol
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Hello dear friends @acom good afternoon
Governments do not know how to do to have control of our money or how to do to achieve it.
I really appreciate that you share this news with us
I take this opportunity to wish you all a splendid afternoon
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They can only try, but they will never succeed! Crypto has brought a life changing opportunity to the Masses and its a threat to the Government. So they'll keep trying a that's in their power to restrict the people from accessing it. But I'm believing that no matter what they do, Crypto wins and I'll choose it over centralized regulated government issued Money.
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Greetings my friend @acom.
Interesting information, Bitcoin has evidenced its maturity as a new economic-financial system, withstanding the effect of distrust that could have created these prohibitions. Undoubtedly, cryptocurrencies are providing development opportunities to vulnerable sectors that have believed in them.
Let's keep moving forward.
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