Happy Friday, Blockfolians
The Lede
What a week it’s been. We started off with Elon battles on Twitter, headed into some good old fashioned China FUD and then crashed straight down a mount on the back of liquidations.
On Thursday we started to regain ground that we lost (Bitcoin was even in the green there for a while), but on Friday morning we got yet MORE China FUD that led the markets to dip again. Bitcoin Magazine sums up our feelings on this pretty well:
There is definitely a shifting conversation around China. Many are pointing out that China banning mining would be a lot better from an environmental/political perspective.
There’s also a recognition that it really can’t be a Bitcoin bull cycle without at least one big China FUD.
So maybe for now let’s just go have a weekend, shall we?
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Highly Relevant Reading
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Elon’s debating the Lightning Network on Twitter now so that’s fun
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Venmo blocking aid to Palestine
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Google search around crypto is breaking all time records
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Hey look, we’re going carbon neutral!
Community Commentary
The pros have been accumulating
Confirming institutional buying post dip
A Really Big Number We Should Be Paying Attention To
$10,000
That’s the size of crypto transactions to businesses over which the IRS wants info now
Final Thought
It really do be like that tho
