Chinas Crypto Ban is so bad and so so gooood

So, China has begun to reiterate it's previous attempts at stopping people, specifically financial institutions and payment companies, from providing crypto related services. But what does that mean for the current price of Crypto and people that have already invested. The ban hammer essentially hit everything Crypto related and closed all the loopholes that previously allowed people to somehow get through.

The thing is, they didn't actually ban mining, they banned banks from taking and exchanging crypto but mining is still legal and available it'll just be harder to use inside of China, like a lot harder. And with the amount of miners in China being so high... like 30% of all mining everywhere, them moving to a different country (kind of easy to do) or using foreign exchanges aka sending their crypto internationally seem highly plausible.

This situation has nonetheless caused quite the stir with BTC especially falling to the lowest it's been since February. Last time I wrote an article I said people should either invest right now after the initial dip or wait a bit longer for it to stagnate and well it ain't stagnating yet so the waiting game is still upon us it seems.

For anyone having already invested or recently invested this situation is pretty shitty in the short term, if you're looking for quick profits, you ain't repaying stuff that soon unfortunately. In the long term you'll be fine but trading right now is hectic and has to be chosen wisely. Someone recently wrote an article about coins that aren't falling alongside BTC so check those out if you're interested.

For people trying to get into Crypto, this is fantastic, it' a literal 20-50% bargain on most coins/tokens so getting into Crypto right now, despite it being unstable, is much better than it was during the past few months so I recommend starting now if you still haven't.

After the news settles and people stop panicking the prices will stabilize and we'll be back at it with the gains, so don't let China ruin the fun!

That's that from me, hope you enjoyed.