Wearing my Fiat price hat for a second, it doesn’t seem crazy at all to say that the China Ban + paper Bitcoin IOUs & rehypothecation from FTX, Celsius, BlockFi, GBTC/DCG, etc. negatively impacted real adoption before and after the 2020 halving.
Fraud, negligence, incompetence, and fear can easily poison and/or hamper free market understanding of #Bitcoin.
They (Wall Street, Fed) wanted to nuke a hurricane so to speak. So they created massive rehypothicating ponzi schemes and blew them up sequentially to stop all price momentum. The price chart looks like a stair step dropping almost exactly 10k after each incident. This of course is only short term manipulation and the coins flow from the weak hands to the strong.
