China crypto ban! Same Crap New Day!!
This is larry jones, welcome back to stock up with larry jones. First of all, if you are new to the page, go ahead and hit the like subscribe and notification bell, im gon na chop. This one up really briefly lets talk about the ever revolving chinese crackdown. You know the one that we hear once a month on cryptocurrency um, so im gon na make some um bold predicaments that actually long term. This is actually going to wind up being good for crypto. I know a lot of people like to just run and operate in fear all of the time, but im just seeing this an established pattern here right so uh. One of the things i want to do is im going to show you guys um uh, some charts here, and i want you guys to see what i see right and theres a lot of things that people say repeatedly like the chinese government against this uh cryptocurrency And they say the same thing every time and then people get fearful and they start running and selling their bitcoin. Just like today, there was a big sell off right. Its a bunch of food fear uncertainty. In doubt, china is about control period about control. They dont want anything thats going to cut in to their control theyre more concerned about control. Remember its a communist country, theyre more concerned about control than they are wealth right just like when they crack down on the mining companies and it force a lot of the mining companies to leave.
That was a good thing for crypto, because bitcoin mining theyre mining, something thats decentralized, but it was governed by a centralized country over 65 percent of mining companies once in china. So now theyre theyre gone and theyre from under the rule. Okay, eventually, china, putting these these press releases out wont, have any effect right and so well all be better for that. So lets take a look here. Lets read this chinas history of uh bitcoin bands like clockwork. China has released a number of statements. First of all, look at the date of this may 25th. Okay, so four months ago they already have established a trend of doing the same thing like clockwork. China has released a number of statements over the uh past few days that shocked the stock market and look at here bam bam like clockwork because among long term holders the announcement has invoked memories from the past few years. Right 2013 crackdown on banks and payments, 2017 closure of local exchanges. I mean they go down the gamut, a warning of miners in 2019, 2021. Okay, this just says: whats the difference this time, but this is something that china does and every time they do it. It has the same reaction throughout crypto world it people get fearful right, but, as i was looking at this report, i came across this report that i agree with now. This is today all right, yahoo, finance news – and this is september 24th 2021 chinas banning crypto transactions.
Hyphen great im, sorry quote great news for bitcoin right investment firm ceo, so this investment firm lets read a little bit. Let me get that out of your way. Bitcoin may actually benefit from chinas recent decision to ban all cryptocurrency transactions according to ross gerber gerber, kawasaki wealth. I say that right, kawasaki, wealth and investment management. All right. This is great news for bitcoin gerber said. The last thing we want is china to be involved in a currency of the world right, of course, it failed six percent today after chinas announcement. So those are some of the things you can look at these reports yourself. These are some of the things that i wanted to discuss with you guys because its the same thing, its the same flood over and over and over and so heres. What i think how this is going to play out chinas gon na yet release another report saying the same thing: theyve always been saying and its going to shake the trees right and all the loose leaves are going to fall. So all the paper hands are going to sell out theyre going to say, hey im done with crypto and then crypto will pop. It will have its bull run and i believe a lot of people will will miss the run. Remember: im, not your financial advisor anything that i say is not for you to buy, hold or sell a stock. This is for discussion purposes only so i just want you guys to be aware of the same food, fear, uncertainty and doubt that china uses all the time again larry.
What are you going to do im yet going to buy, set a buy in for cardano again at two dollars im yet going to look for to get solano again at a dollar 25, and i will see if this hap hap, if this causes any future downtrend Im going to buy the crypto that tanks the most because thats how good people weve been making the most money, so we profit off of this fear. We dont we dont pump, we dont dump right, we dont have full mole, but we dont do panic. Selling right were beyond that. We learned that lesson last year right, so we make money. I just want you to think about. I want you to go back and google. How many times have china announced a ban on crypto and it will blow your mind right same story right. We heard it before its like the next door, neighbors dog, that keeps barking all the time and they open the gate and the dog dont do nothing all right. So this to me personally, is all bark no bite all right. Im gon na leave it right. There, hey im uh still here at uh, fincon last day and im going to leave you. I want you to listen to this, for those of you, thats uh, uh, uh, struggling with credit. I had a young man, thats thats, killing the credit game and this little short clip might help some of you guys, with your credit check it out.
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My wife here keeps me in line good people all right, hey if youre new to the page remember hit the like subscribe and notification bell. Uh monday ill, be back in the studio, were gon na. Just keep moving were gon na keep making money and were gon na continue to live good lives right, good people, live, love, laugh and learn.