China warns Bitcoin is heading to zero but BoE looks on the bright side
— Saturday, Market structure .” meanwhile, Breakdowns bespeak, Stay afloat, Manipulation, Beijing ’, Chinese, England, Millions, South china morning post reported — 1 min read
Chinese government warns Bitcoin prices are ‘heading to zero” Bitcoin (BTC) will return to its original value, which is “utterly worthless” The Chinese government banned Bitcoin mining last July and has grand plans to launch its central bank digital currency (CBDC) called the digital Chinese yuan (e-CNY) nationwide. The Bank of England has begun to see the upside potential of building wealth in the crypto space during a bear market. El Salvador’s President Nayib Bukele tweeted that people should “stop looking at the graph and enjoy life,” because he is confident that prices will recover from the current downturn. Bitcoin is currently trading at $20,386, 71% down from its high. Source