Do you sound familiar? Sound familiar?

The latest scandal over China’s anticrypto stance has a strong historical echo — and the old guard are well aware. Source: TradingViewA classic bull run formula? Source: TradingViewA classic bull-run formula?Data from Cointelegraph Markets Pro, TradingView, and Bitstamp showed new multi-day lows of $40690 for BTC/USD on Bitstamp. China claimed they were banning #Bitcoin, and it fell by more than 30%. #BTC recovered quickly and reached new all-time highs in December of that year. As the saying goes ‘history doesn’t repeat itself but it sure does rhyme’ pic.twitter.com/Xi8euPK916– John Satoshi Wick (@JohnSatoshiWick) September 24, 2021 For trader and analyst Rekt Capital, meanwhile, the sell-off merely highlighted the inexperience of newcomers to the market.”BTC investors who have been in the market for a while have heard many different iterations of FUD from China. “Their panic selling is what is fuelling this recent downside,” he tweeted. “Their panic selling fuels this recent downside.”$38,000 support unaffected Source: Material Indicators. As Cointelegraph reported previously, the “line in the sand” levels for bulls were already in the mid-$30,000 range. However, this still leaves a significant amount of support (Binance) below $40,000.

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