Seeking Alpha
2021-06-09 16:38:42

Bitcoin rallies through $36K as China FUD fails today

Bitcoin (BTC-USD) bulls looking for some sign that the selloff may be coming to an end might find hope in the market ignoring today's news of further restrictions in China. Most have lost count of how many times China has "banned" or been about to ban Bitcoin over the years, but word of a crackdown on miners a couple of weeks ago sent the crypto tumbling from above $40K to less than $30K in a few hours.As for today, Bitcoin Magazine reports Baidu and Weibo (China's Google and Twitter, respectively), are censoring keywords related to bitcoin exchanges. A search on Weibo for "Binance," for instance, yields no link to that exchange, but instead a message: "According to relevant laws, regulations and policies, the search results of 'binance' are not displayed." A search for "OKEx" on Baidu yielded no results.Bitcoin may be its own sort of asset, but old Wall Street

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