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If there is just one thing, apart form bull market and bear market, that has been consistently and cyclically happening in Crypto for nearly forever, it is probably the so-called “China Crypto Cycle“. While that name may be a complete invention from myself, I think everyone knows what I am talking about here. It is about China always banning Crypto during the peak of a bull market to essentially make Crypto transition into a bear market and then during the bear market China usually loosens those bans and Crypto-trading is mostly open again to their citizens. During 2021 on the 23rd May China had announced a big Bitcoin mining ban which caused havoc all over the markets as by far the biggest Bitcoin miner was suddenly going dark. We later crashed to $28k, which by many was seen the end of the euphoric 2021 bull market (many view the later top in November as mostly established due to extensive holding and institutions instead of hype). Now over two years later and one whole year of complete and utter bear market, China may be starting to turn back on at Crypto. This time through an other way though… Now Hong Kong is supposed to open nearly all of Crypto retail trading and we should all by now know that Hong Kong is just a pupped of China and will only do something if they agree on it. Meaning that China must have agreed in some way for this deregulation. This is very very bullish, China and Hong Kong were seen as one of the largest trading markets for Crypto and now with a regulatory approval, unlike in many other countries (looking at you US…), Crypto will be all submitted by /u/partymsl |
