Martyparty Shares a Tweet When Bitcoin Pumped When China Spoke

Bitcoin 24 February 2023 13:20, UTC    Reading time: ~2 m

Music producer and blockchain architect Martin Folb, aka “MartyParty,” shared a tweet on the recent Bitcoin pumps following the speech by China.

Bitcoin pumps when China says.

— MartyParty (@martypartymusic) February 24, 2023

This is a follow-up to the recent speech by China’s Foreign Ministry (FM) spokesman Wenbin about the US. China mentioned that after the end of World War II, the United States tried to overthrow over 50 foreign governments and violently interfere in the elections of over 30 countries, including trying to kill over 50 foreign leaders.

Following the news, Bitcoin’s (BTC) price has jumped to $24,468 in the last 24 hours, from a low of $23,692, before falling to its current price. BTC is trading at $23,890 at press time, with a 2% drop in value over the last 24 hours.

From late 2020 to early 2022, China whales were primarily net sellers. He also made note of the fact that the new bitcoin consumers only know about Korean pumps. Twitter user Andrew Kang warned customers that their pumps are 10 times as powerful as China’s GDP.

Several altcoins, including Neo, Conflux, Filecoin, VeChain, etc., have seen a noticeable pump. Some people go so far as to say that Chinese and Hong Kong whales are mostly to blame for these pumps.

The COVID-19 pandemic has damaged the Chinese economy during the past few years. The economy, however, seems to be coming out of this stranglehold. Despite China’s ban on trading and mining crypto, the power held by the Chinese whales is unfathomable.


Updated: 02/26/2023 — 03:00

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