$BTC Please note two points.
1. In the past, the mainland targeted things like big pancakes, claiming that Bitcoin and Ethereum are scams that anyone can issue. This time, the focus is on two targets: stablecoins and speculative coins.
2. No matter what announcements they make, even if it's a joint announcement from 100 departments, you will not be able to influence the fluctuations in the cryptocurrency market anymore. The influence of the mainland is even less than that of a single American institution's prediction on quantitative easing. You forced them out back then, and now you should know your own weight.
The points we need to pay attention to are below.
1. Withdrawals should be maximized. Set aside part of your profits and money that won’t affect your life for the past year for investments. Their technical monitoring deployment is not that quick yet, so your withdrawals must be done as soon as possible.
2. For deposits, try to find acquaintances to deposit, as they likely have withdrawal needs too.
3. Go to a bank, preferably a local bank (where you have never opened an account before), and apply for a bank card. This card serves as your last line of defense, and you need to ensure that the funds in and out of this card do not have any connection with cryptocurrency funds. This is to prevent the bank from tracing and freezing all your bank cards associated with funds.
Why?
1. WeChat and Alipay have implemented various restrictions, and from now on, they will only strengthen them and not loosen them. Future withdrawals will become increasingly difficult, and local authorities, in pursuit of revenue, will become more aggressive in capturing everyone, including us speculative coin traders. Moreover, with so many departments issuing documents this time, it reminds them that they can target us for capture and crackdowns, which is backed by endorsement, giving them a lot of operational space.
2. Some people are not traders. If they make a mistake, they will not acknowledge it; instead, they will prohibit you from discussing the matter further. The more you talk, the angrier they get. To maintain their consistent correctness, they will strike back even more furiously, to the point where you dare not mention these related matters again. The premise of correction is admitting mistakes. If a person cannot admit their mistakes, you can never expect them to correct themselves; face is more important than anything else. From historical experience, they have never admitted to being wrong. It has always been this way. Therefore, we must be prepared for the long term underground.
