Generally speaking, when China introduces policies to crack down on cryptocurrencies, it is basically the top of the bull market or the best time to escape.
1. On May 18, 2021, the China Internet Finance Association, the China Banking Association, the China Payment and Clearing Association and other three associations jointly issued an announcement on preventing speculation in virtual currency transactions.
2. On May 21, 2021, the Financial Stability and Development Committee of the State Council proposed to "crack down on Bitcoin mining and trading activities"
3. Notice of the People's Bank of China and ten ministries and commissions on further preventing and handling the risks of virtual currency trading speculation on September 15, 2021
4. Notice of the National Development and Reform Commission, 11 ministries and commissions and other departments on regulating virtual currency "mining" activities on September 24, 2021
It's just the opposite in the United States. Every time there is a bear market, there are all kinds of attacks. For example, the SEC comes out to collect protection fees every time a bear market comes.
There is another rule: the top of the bull market is always the positive impact of the US, such as the listing of CME Bitcoin futures on December 18, 2017 in the previous bull market. Coinbase was listed on April 14, 2021 in the last bull market, and the first US Bitcoin futures ProShares Bitcoin Strategy ETF (BITO) was listed on October 20, 2021. So what will be the positive impact of the US in the next bull market? The following can be predicted:
1. Bitcoin spot ETF passed
2. Apple or other technology giants officially announce support for Bitcoin payments
3. Top investment banks or banks in the United States support Bitcoin customer business.
