Centralized Chinese TV talks about Uniswap $ UNI | Could China be selective on cryptocurrency?
Chinese centralized television talks about Uniswap or $ UNI. Could the company change its perspective on crypto? It’s quite confusing as to where China’s real position on crypto is, but one thing’s for sure, the country has been talking about a cryptocurrency on its CCTV or centralized TV.
Centralized TV in China talks about Uniswap
A Twitter account with the username of Jean Miao showed a video of what appears to be China’s centralized television talking about cryptocurrency. The caption said the CCTV specifically spoke of Uniswap or $ UNI.
This news can be quite confusing, especially after China recently banned mining and due to the exodus of miners and large crypto whales, the entire crypto market has shrunk somewhat. While this sounds like good news, there was one comment that disagreed.
CCTV talks about “Foreign DEX”
According to the Twitter account Bitcoin Yaoming, don’t be fooled by the pictures. The user then noted that “CCTV is NOT talking about UNISWAP”. The user also noted that he was talking about scams in the full “Foreign DEX” since anyone can create one while alerting potential Chinese investors.
If Jean Miao’s statement was indeed true, it could mean another bullish run for $ UNI if the news spoke of the cryptocurrency in a positive light. However, if the news alarmed the public with potential scams as GBitcoin Yaoming noted, it could have a negative effect on the cryptocurrency.
China’s cryptocurrency crackdown
At the moment, it’s still unclear what the full news was really about. Many crypto whales sold their coins when the Chinese crackdown on cryptocurrency began. However, news of a Chinese digital currency built on Ethereum has resulted in massive movements of whales.
When the rumor that China could build its digital yuan on Ethereum erupted, many whales began to buy more and more Ethereum. At the moment, however, the coin is still quite far from its all-time high of around $ 4,000. The coin has been moving in the $ 2,700 to $ 2,800 range for some time with little sign that it will turn bullish or bearish.
Read also: XRP $ price prediction predicts that the price will reach $ 7 to $ 13 by the end of 2021
$ UNI Price Prediction
Although the centralized TV news in China talks about UNISWAP, it is still important for traders to be careful, at the moment, $ UNI is trading between $ 27.1 and $ 27.2 and fluctuates within this price range. Using Bollinger Bands, the currency looks very volatile, but its volatility slowly decreases.
However, when looking at the RSI, the coin is perfectly seated in the middle, making it difficult to predict if the coin will go up or if the coin will go down. MACD, however, shows that the currency is slowly turning bullish. Of course, that can change at any time.
Associated article: Crypto Whales buys massive amounts of $ ETH after announcement that the Chinese digital yuan could be built on Ethereum
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Written by Urian B.
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