June only 30 days FUD 25 times

Last June, BTC welcomed bad FUDs to the market. Within 30 days of June, at least 26 Feds attacked crypto and bitcoin. The majority of these FUDs come from China related to trade bans and the cessation of all BTC mining activities in that country.

Previously, China banned trading on regular exchanges, but continued to allow crypto storage and over-the-counter trading. However, last June, the Chinese government banned mining and banks did not allow users to trade crypto, which meant people could no longer trade over the counter.

The above information made the Chinese people fear and sell crypto. Miners are also a significant selling force, selling to cover the cost of miners moving out of China and waiting for the government to resume mining or stop Bitcoin mining altogether. This is also reflected in the on-chain data, which shows the amount of BTC in miners’ wallets is decreasing. (shared by Travis Kling)

There’s also quite a bit of bad news coming from the United States. New information in the last few days is that the US State Department has published a list of allegations against individuals from Central American countries of corruption, obstruction of justice or undermining democracy.

The list includes seven top current and former Salvadoran officials, including President Nayib Bukele’s Minister of Labor, Rolando Castro, Carolina Recinos, Head of Cabinet, and former Justice and Security Minister Rogelio Rivas.

The State Department said officials on the list would revoke all U.S. visas and would not be able to enter the United States.

When the article was published, it used a picture of the President of El Salvador who was not on the list of corrupt persons. This is one way to mislead the press, if even at a glance the headlines and pictures show that it is information about the President of El Salvador.

Despite many FUD attacks over the years, as well as in June, the price of BTC is still in the $ 30,000 to $ 40,000 range. At the same time we also see the crypto market as well as BTC enter a new era and have important historical milestones. Bitcoin was officially recognized as the national currency by the first country in the world, El Salvador. Most recently, the US Congress had a serious and focused hearing on crypto and blockchain. Or the Fed also uses the Bitcoin brand for sharing.

SEC Commissioner Hester Piece also spoke about the long-awaited approval of a Bitcoin ETF: “With every day that goes by, the excuse we have used in the past to turn it down seems to be getting weaker every day.” American investors are also waiting for the approval of the BTC ETF.

The issue was not approved by the Bitcoin ETF for two reasons. First of all, for the safe storage of BTC. However, now big companies like Gemini and Coinbase have insurance on BTC storage.

The second point is that the BTC market is still being manipulated. But the truth shows that every market including real estate, stocks, gold, … is also being manipulated. The bigger the market, the easier it is to manipulate. Both the BTC market and the crypto market are still small, so it’s easier to manipulate. But that problem will gradually be resolved as the market gets bigger, and the Bitcoin ETF is also a way to help the crypto market grow faster.

Some other information:

• copper Cardano (ADA) was company Grayscale add to portfolio. Grayscale sells another portion of the coin to convert into additional ADA. The ADA mutual fund ranks 3rd after BTC, ETH and accounts for 4.26% of this company’s total mutual fund.

• The company’s CEO, Jamie Dimon JP Morgan said that this bank believes that ETH will be a big coin in the future because ETH has a staking form that will help make big profits in the future. They also say that companies with staking products like Coinbase have seen strong sales growth. If JPMorgan may hold a large amount of ETH and find new products to attract investors while very low interest rates are difficult to attract people to save.