I don't know why people got panic so easily. People are currently dumping massive coins in the market because of China's action to regulate Bitcoin. What do you think people should do instead of dumping their coins just like that in the market that lead to damage the value of bitcoin?
Its an overreaction from the market which is very normal in times of unpredictability. Some say its manipulation.
Dont some of you find it funny that the Chinese media is releasing small and unreliable news instead of an official statement from the PBOC? BTCC is also doing it.