{"id":65864,"date":"2021-05-19T15:14:04","date_gmt":"2021-05-19T19:14:04","guid":{"rendered":"http:\/\/stateofthenation.co\/?p=65864"},"modified":"2021-05-19T15:14:04","modified_gmt":"2021-05-19T19:14:04","slug":"heres-clear-evidence-that-bitcoin-is-just-a-global-ponzi-scheme-where-billions-are-lost-by-crypto-suckers","status":"publish","type":"post","link":"https:\/\/stateofthenation.co\/?p=65864","title":{"rendered":"Here&#8217;s clear evidence that Bitcoin is just a global Ponzi scheme where billions are lost by crypto suckers."},"content":{"rendered":"<h1>Bitcoin, Ether Rebounding After China Crackdown Wipes $1 Trillion In Crypto Wealth<\/h1>\n<p><!--more-->ZeroHedge.com<\/p>\n<h2><u>Summary:<\/u><\/h2>\n<ul>\n<li>China reportedly launches widespread ban on crypto payments, warns of speculation<\/li>\n<li>Overall crypto market cap drops $1 trillion<\/li>\n<li>Ether down 40% at worst (rebounding strongly off $2000)<\/li>\n<li>Bitcoin down over $10,000 at worst (rebounding strongly off $30000)<\/li>\n<li>Crypto proxy stocks hammered<\/li>\n<li><a href=\"https:\/\/www.zerohedge.com\/crypto\/coinbase-and-binance-users-report-issues-or-outages-cryptos-crash\">Coinbase outages spark anger among traders<\/a><\/li>\n<li><a href=\"https:\/\/www.zerohedge.com\/crypto\/coinbase-and-binance-users-report-issues-or-outages-cryptos-crash\">Binance halts Ethereum withdrawals<\/a><\/li>\n<li>JPMorgan sees bitcoin-to-gold rotation<\/li>\n<\/ul>\n<p>*\u00a0 *\u00a0 *<\/p>\n<p><u><strong>Update (1000ET):<\/strong><\/u>\u00a0Bitcoin and Ethereum are rebounding strongly.<\/p>\n<p>Bitcoin found support at $30,000&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfm15BD.jpg?itok=Fw4qyhFy\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfm15BD.jpg?itok=Fw4qyhFy\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfm15BD.jpg?itok=Fw4qyhFy\" alt=\"\" width=\"500\" height=\"262\" data-entity-type=\"file\" data-entity-uuid=\"9387bdcc-1407-43d5-aef1-1da392c9a9c6\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>And Ether bounced off $2000, and is back above its 100DMA&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfm4AC8.jpg?itok=31MUVrxw\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfm4AC8.jpg?itok=31MUVrxw\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfm4AC8.jpg?itok=31MUVrxw\" alt=\"\" width=\"500\" height=\"262\" data-entity-type=\"file\" data-entity-uuid=\"554a7d92-02c6-4a57-b324-46466b5a9cac\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>*\u00a0 *\u00a0 *<\/p>\n<p><u><strong>Update (0900ET)<\/strong><\/u>: Things escalated a little more since we first wrote this morning. Ethereum is the biggest loser, crashing below $2000 (briefly), down 40% on the day, and Bitcoin is testing $32k (down 25%)&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfmB252.jpg?itok=M_Qtv5U3\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfmB252.jpg?itok=M_Qtv5U3\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfmB252.jpg?itok=M_Qtv5U3\" alt=\"\" width=\"500\" height=\"242\" data-entity-type=\"file\" data-entity-uuid=\"0609f187-a9b9-4402-bb22-dc227c665fd6\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><strong>And that leaves total crypto market capitalization down over $1 trillion from its highs&#8230;<\/strong><\/p>\n<p>Continue reading at:<br \/>\n<a href=\"https:\/\/www.zerohedge.com\/crypto\/crypto-markets-lose-over-800-billion-week-bitcoin-bloodbath-accelerates\">https:\/\/www.zerohedge.com\/crypto\/crypto-markets-lose-over-800-billion-week-bitcoin-bloodbath-accelerates<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin, Ether Rebounding After China Crackdown Wipes $1 Trillion In Crypto Wealth<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-65864","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/65864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=65864"}],"version-history":[{"count":0,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/65864\/revisions"}],"wp:attachment":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=65864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=65864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=65864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}