China Bans The Use of Crypto Currency by WJ Vincent II
How does this effect Bitcoin?
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We wanted to take a moment and share some thoughts on the recent announcement by China to ban Cryptocurrency. Firstly, keep in mind there is no way for a country to actually ban cryptocurrency access. They can make it illegal to use it, etc., but they can’t stop you from using it. So it is a little like speeding, everybody does it, if you get caught there is a fine to pay, but most of the time you don’t get caught. It is even more difficult to regulate access, or for governments to know people are using crypto, unless the individuals share the information. We are guessing this will be nothing more than a minor blip long-term, and represents an incredible buying opportunity in the short-term. This may be the last time we see these prices in Bitcoin or Ethereum, so if you can, you might want to get some more of each. It is possible that new lows will be tested, and that the price could remain depressed for some time. This would be an opportunity to accumulate over however long the prices remain low. Good luck in deciding how to proceed, we will be getting more of Bitcoin, Ethereum, and Cardano for our own portfolios at these prices, and secretly are hoping prices go even lower!
Here is an interesting video about Governments Banning Bitcoin, produced a couple months ago. For those of you that would like to understand more about what is, or is not possible.
Here’s to Empowering your dreams, Igniting Your Passion, and Accelerating Your Prosperity!
WJ Vincent II
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