Over the past couple of days, Bitcoin and all other cryptocurrencies enjoyed a much-needed rally. Confidence was building once again and things were appearing to get back on track. The bull market was back on!
Overnight reports from South Korea started it; European regulator comments extended it this morning; and Shanghai "scrutiny" headlines just sparked another slam as cryptocurrencies are getting hammered today...
"Student demonstrations, street disorders began to become more common. Corruption scandals came to light, but the guilty were seldom apprehended or put to rights. Most of the time they left fleeing to some country to enjoy the stolen riches."
"This type of market behavior is pure madness... struggling lemonade companies are getting into cryptocurrencies. And the market is rewarding them...It’s a circus. And most of these hair-brained schemes will fail."