The PERFECT time to buy bitcoin
Bitcoin has definitely taken a DEEP dive the pass couple days. At the time of this writing, Bitcoin is down almost 20%.
China crackdown on illegal bitcoin mining has sent the market into a frenzy. China is cracking down on most of the largest mines in the country leading to Bitcoin’s hash rate down ~4% (basically the network energy).
MIND YOU... this is country that banned street vendors.
So this is very on brand for China.
But the miners aren’t worried. This week they immediately started shipping mining equipment out of the country. We are starting to see bitcoin mines all over the world including right here in the United States. I personally saw the mayor of Miami welcome bitcoin miners from all over the world.
This provides the perfect BUYing opportunity. Some of the smartest minds in the industry are buying more coins as the price continues to drive down.