Cryptocurrency-related advertisements have stopped appearing on Chinese search engine Baidu and social media platform Weibo, amidst reports of Chinas government tightening cryptocurrency and Initial Coin Offering regulations on Sunday, Feb. 4.
The Financial Times of the Peoples Bank of China (PBOC) was told today, Feb. 4, that China will further increase regulatory pressure on cryptocurrency exchange sites and Initial Coin Offerings (ICOs), Chinese news site Sina reported.
Seems cryptocurrency will not recover so much in a short time...
Then this is the reason why the market today is in chaos, the value of cryptocurrency will massively increase after a few months just like what happens last year when bitcoins reached 16$ dollar after the ico has been banned on china.