2025-12-11 09:23:55

Do you remember the last crackdown? During the period of price inversion, I mentioned a viewpoint — the most intense impact of this wave isn't the trading itself, but that it would use the guise of "anti-money laundering checks" to cause ordinary people's accounts to encounter all kinds of trouble.

The comment section was flooded at the time, with many people thinking I was spreading anxiety: "I've been checking for so many years, if I want to play, I still play, what's there to be afraid of?"

It wasn't until recently, when group friends shared their experiences, that I realized this matter is coming faster than expected.

Let’s start with a few facts:
Will the police station directly penalize you? No. But being called in for questioning and taking notes — this process alone can make people feel uneasy.
Will banks refuse to unfreeze your card? Will WeChat permanently ban your account? Most likely, no. But just experiencing a freeze or a ban once makes the vast majority of ordinary people afraid to touch it again.

Some might still think: "What's the big deal? I'm totally unbothered." That’s probably for two reasons — either they've never truly encountered it, or they’ve already bet their assets heavily on the crypto market. I experienced this once in 2019, immediately left the scene and waited five years, switching to the traditional financial industry.

Looking back at the 2017 bull market, why could it attract so much capital? The core reason was that exchanges moved the offline C2C escrow model online, greatly lowering the entry threshold. At that time, Bitcoin was only around 4,000 per coin.

Now someone says: "Even if there's a crackdown again, so what? At worst, we go back to the C2C escrow era."
The problem is — during the heyday of C2C, Bitcoin was 4,000; now it's 90,000.
If this portion of funds truly cannot flow in, it's not just about maintaining 90,000; dropping to 70,000 or even 50,000 isn't impossible. Market sentiment, sometimes, is more ruthless than technical analysis.

BTC-0.2%

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ImpermanentLossEnjoyer

· 12-12 07:30

Hmm... a single freeze can really scare people out of the circle, this is psychological warfare. --- That wave in 2019, I was also involved. Thinking back now, I still feel scared. It's not really a legal issue, but the uncertainty is the most tormenting. --- The difference between 90,000 and 4,000 is so many times, the capital threshold has entirely changed. When policies tighten, there's indeed a risk of falling. --- Honestly, many people only dare to be confident because they haven't experienced it. Just one account freeze and they get scared. --- Actually, the harshest part isn't the punishment itself, but the process of being called in for questioning and making a statement, the psychological pressure is overwhelming. --- I understand the decision to step back from the circle for five years; sometimes, survival is the most important. --- If the way funds flow in has changed, it truly can't support the current price, and that's the real issue.

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BearMarketBarber

· 12-11 09:50

Hmm... This time it's really no exaggeration. I was frozen out of my account once in 2019, and the feeling was simply incredible. Honestly, the moment the bank froze it, my mindset completely collapsed. It's even more uncomfortable than losing money. The key issue is that funds can't flow in. The possibility of not holding onto 90,000 definitely exists, and once market sentiment collapses, it's over. Several friends around me are still debating whether to cut losses now. It feels like everyone's morale has dispersed. To be honest, those who haven't experienced it will never understand the feeling of being called in for an interview. It really makes you reevaluate your choices. Instead of gambling on policies, it's better to think about how to survive and return to the next bull market.

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ContractFreelancer

· 12-11 09:46

I think the author's comments are somewhat alarmist; the real risks aren't that high, and most people who've been in the crypto world for so many years haven't had issues. But on the other hand, once frozen, it's really tough. I've seen accounts frozen for half a year before being unfrozen, and the psychological pressure is real. If my card were frozen for two hours, I'd panic big time, let alone having to go to the police station to make a statement... This kind of situation can indeed discourage a large number of retail investors. It's 2024, and people are still thinking about the C2C model. The current landscape is completely different; liquidity can't be compared, and the crackdown on capital flight is unstoppable. The prediction of a drop from 90,000 to 50,000 is too terrifying, but historically, changing policy expectations can indeed crush market sentiment. That's right, most people who experience their card being frozen once will just quit the scene altogether; no one wants to bother with this kind of trouble. This argument essentially means that ordinary people simply can't handle policy risks, and the focus should be on how to avoid them rather than stubbornly fighting.

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ChainComedian

· 12-11 09:43

In 2019, I was also there. Honestly, the feeling of being frozen... I still shudder when I think about it now. --- Getting your account frozen once is enough. Don't say you're not panicking; when it really happens, you'll know what it feels like to be relieved. --- Basically, it's a psychological game. The moment your account can't be accessed, no matter how good the technical analysis looks, it's useless. --- I just want to know, if so much new capital really can't get in, how long can this 9% support last? --- Someone in the group has already experienced this loss. Now everyone has moved to overseas exchanges, but playing like this is exhausting. --- Strict crackdowns are never about directly arresting people; it's about making things difficult for you. Most people can't handle that pain. --- I saw the story of quitting the scene five years ago. Honestly, the crypto world is even more complicated now, with more hidden risks. --- The most frightening thing is when capital can't flow in. It's not about technical issues; it's simply that the money can't get in. --- The problem isn't with the coin itself; it's that the amount of money that can get in is decreasing, and that's the real issue.

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PerpetualLonger

· 12-11 09:39

Oh man, this time really is different. I'm now holding full position and waiting for the moment to break even. Gee, talking about frozen accounts casually, if it really happens, it's definitely social death. I believe you. From 4K to 90K, hearing you say that makes me even more upset. Does it have to drop to 50K to shake out the weak hands? Stop with these tricks. Bottom fishing is the way to go. Only by adding aggressively can we break the deadlock. You're right, I haven't experienced that kind of fear without being frozen before. I believe you. If this really drops, the short-term retail traders will cheer again. So annoying. Forget it, Bitcoin faith can't be shaken. Let it fall if it will. I might just buy a little more to support the bottom.

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