Yes According to the Chinese State-Run Newspaper Bitcoin is heading towards Zero and I can't think about anything better than the word HYPOCRISY. The reason I am saying this is because China has a long history of just talking against Bitcoin and Cryptocurrencies in general and every time they do this it is always around the Bear Phase of the Crypto Market. This is nothing new from CHINA and frankly speaking, I was expecting something like this to come up soon.
Another reason I call this HYPOCRISY is that China did launch their CBDC which stands for Central Backed Digital Currency and guess what happened with their whole Trial Phase. It really got Slammed as there were a lot of issues. Plus the only reason they were able to Launch their CBDC was because China is a closely Monitored Country and they could literally force the CBDCs on their People.
The price of Bitcoin as you can see is currently just above 21000 USD which is like 3x from its All-Time High I can say for sure that Bitcoin will touch its All-Time High again and for that, I am accumulating BTC as well as ETH because I am Bullish on it and I believe in its Future. But if China is so against Bitcoin and Crypto in General then why isn't it making Money off of it as now you can short Bitcoin with an ETF. ProShares Short Bitcoin Strategy ETF which is commonly known as BITI is an ETF that has the opposite price movement as Bitcoin which means if BTC goes up this ETF goes down and if BTC goes Down the ETF goes UP.
Anyways back to the Question of Bitcoin Going to Zero, I feel like that's highly Unlikely as too many people Consider Bitcoin as a Store of Value and they will buy in anytime they see a decent entry price. Even though I am not a Big Investor I still do my SIPs on Bitcoin and Ethereum as I believe in them and their FUTURE.
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