April 25, 2021
Nation states are beginning crackdowns. Emerging markets specifically are guarding against capital flights. This is not only a nail in bitcoin's coffin, but a sign of a larger macro issue (see Milkshake Theory).
Turkey, Saudi, Korea...
Vebitcoin: Turkey arrests four people after cryptocurrency collapses
Financial authorities to set new regulations on digital assets
Top South Korea Regulator Says All Crypto Exchanges Could Be Closed - CoinDesk
We also have the Americans signaling new regulations. This includes the elimination of 1031 exchanges which are a key advantage of crypto and the nomination of Gary Gensler.
Some theorize that bitcoin is a financial weapon designed to destroy American capital markets. "Hang the capitalist with their own rope". Recently we are noticing china making moves to end their production of bitcoin (hashing) while promoting the 'asset class'. This is sell side behavior*.*
Always trust a snake by how it moves, their tongue is forked!
https://twitter.com/Cardanians_io/status/1385214140365615104
https://twitter.com/WuBlockchain/status/1383798033679224836