Bitcoin, I have Good news and Bad News.....
Cryptocurrency market is down Bad with bitcoin seeing losses near 30% and all the other major players followed behind. Some bad news amplified by the media caused SPOOKED the market into a sell off. Follow along as I break down each of these events below !
China Bans cryptocurrency.... (again)
What ACTUALLY happened is china's top 3 financial institution ruled cryptocurrency an unsafe investment and they are not working with them at the moment.
If China wanted to ban bitcoin they would make it illegal to Own, Trade, and Mine(create) these coin. (Which they didn't)
China is gearing up to buy bitcoin as I write this article..
The government wants to know about crypto transactions over 10K. Oh no.. we gotta pay taxes on our cryto gains.
This is GREAT NEWS. This means our government(the grey hairs) are taking steps to recognize Bitcoin and other cryptos.
As the grey hairs create more policies on BTC, the more participants and opportunities for us to make money.
Tesla's Bitcoin losses end up being more than the profit Telsa made this year.
Some might read this and panic... but this is one of America's Top business and industry leaders taking a bet on this new technology.(and avoiding taxes at the same time.)
I see tesla buying more bitcoin (and ETH) throughout the year.