In the past 12 years, cryptocurrencies have recovered from China’s FUD a dozen times

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