After the “breakthrough”, today’s price fell by 5% (read: Several weeks old) According to sources, the People’s Bank of China (PBoC) has declared all cryptocurrency transactions illegal.
With this in mind, let’s look back at the FUD out of China in the past 12 years and see if we can spot any patterns.
China banned “virtual currency” for the first time in 2009
The first ban on Bitcoin took effect in 2013
False ban threats plagued 2014
A hack on a Chinese exchange in 2016 caused a short price drop
In 2017, China lifted encryption-related bans twice within a month
Media reports led to a brief cryptocurrency faith crisis in 2018
FUD is raging in 2019
China is said to be behind the “crypto carnage” in 2020
FUD came to today
The total number of times China’s FUD failed to kill cryptocurrencies: 19
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