Many didnt pay attention to what Xi-jinping said and blindly bought BTC in bull run that started after his statement on blockchain, they are now cursing the crypto market.
Crypto markets are not reasonable and people are ignorant, they can't see what's below the hype when they are following the buzz words. This makes markets easily manipulative. And it makes me think that some Chinese crypto media outlets might be using the language barrier as their advantage, to give news to short or long by.