With the day to day news we sometimes don't take the time to see the bigger picture. Even if we don't get to see new ATHs soon, it is important to recap how extraordinary resilient the crypto market is right now.
End of May China cracked down on mining. It was not a threat, they did it. At the same time one of the most influential companies of our time reversed it's decision to except Bitcoin. In retrospect it would not be surprising if BTC would trade for 10-15k and Ethereum for 800 now due to those circumstances and yet here we are.
Weeks ago China (the second biggest economy in the world) cracked down on ALL crypto transactions. This time it looks like they will follow through. Even if not we already see that exchanges will not take the risk and are banning Chinese users. This event alone could instantly the whole crypto market cap in half and no one would be surprised and yet here we are!
This is extraordinary! No matter what happens next, the fact that we are at over 2T under those conditions is mind blowing!
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