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It's hard to imagine that the investors involved in this war are so crazy. After the Central Bank of China United with seven ministries and commissions to stop ICO, bitcoin had a relatively large decline. Bitcoin, which had reached about 30000 yuan, once fell back to about 25000 yuan, but then it rebounded rapidly. The price returned to about 29000 yuan before the stop, until the latest rumors almost settled, that is, the state will stop bitcoin trading completely at the end of September, It's called almost because so far, we haven't seen any official documents. It's also word of mouth in the market. However, from the perspective of trend, if we do not take this step, the speculative craze of bitcoin will not be able to cool down, on the contrary, it may add fuel to the fire, because everything has its advantages and disadvantages. To a certain extent, stopping ICO also makes a social popularization for ICO. However, China's national conditions are that once the Chinese aunt enters, the psychology of being irresponsible and herd behavior will be magnified From this point of view, eliminating the root causes and canceling the bitcoin trade is just like taking the plunge from the bottom.
The reason why we said that we didn't expect that the market would be so strong today. The reason is that the trend of the market is often contrary to people's judgment, which can also explain why the market is relatively strong today.
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