All across finance, the conversation of the day has been centered around China and the ongoing regulatory crackdown As it pertains to the crypto market and assets like Bitcoin and Ethereum, holders are wondering if there could be spillover effect and additional FUD that could on the ongoing recovery in play. But it is in the Tencent chart itself that suffered a devastating collapse today that should have Ethereum bulls worried due to a frightening comparison between the two. Making matters worse, knocking on wood won’t help, as the Lumber futures chart could help shed a light on what the next target might be for the top ranked altcoin. How The China Regulatory Crackdown Is Hurting Crypto, Chinese Stocks Ever since Black Thursday last year markets have been in an explosive uptrend. Bitcoin rallied more than three times its former all-time high, Ethereum nearly four times as much, and even the stock market is more than double the value it was more than one year ago. Cryptocurrencies corrected harshly a few months ago, but the stock market kept on climbing. The US stock market still is, although as of today the rally to new record highs has taken a pause – a pause due to fear related to a completely different region. Related Reading | TA: Ethereum Trims Gains, Why ETH Could Restart Its Rally In addition to the country banning Bitcoin mining and causing other dramatic that hurt crypto prices, China has...
