Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.
I especially find it very funny how news works, especially when it comes to bitcoin. It's a very common trend to see this exact path of news articles:
1) When bitcoin drops, the negatives of bitcoin is highlighted in articles. More articles come out saying that bitcoin is in a bubble, that it's going to fail, and that it's worth nothing. These types of articles are highlighted even though people say this stuff
all the time, regardless of how bitcoin is doing.
2) When bitcoin goes up, there are articles that talk about how it's the future and how blockchain technology can change the world, etc.
News companies are so confused by BTC's volatility that they just can't stick to one side of supporting or opposing it.
That is quite true. Whenever the bitcoin price falls, numerous negative and false news come along with it. There are a lot who say bad things about bitcoin on a normal basis. It as if whenever the bitcoin price experiences a drastic change, the news would follow suit. These news may or may not have an effect on the bitcoin price but because of its volatility, its bound to go up and down.
From what I heard, China has a lot of bitcoin users in its country so I'm guessing that they have some influence over bitcoin but there's a lot more that influence bitcoin. China's influence may have turned out to be insignificant now because of the other dominant factors that are at play, such as the speculators and whales.