History has always repeated itself in Bitcoin on the 24th of September 2017 when the china central bank ban Bitcoin/cryptocurrency, a move that sees the price of Bitcoin crashing deep before it recovered after 3 months of struggle to hold its resistance. On the 24th of September 2021 news still, fly around about china banning crypto, which turned out to be rumors and false development that see the Bitcoin price dropping to $40,675 before it gradually rises back to 41k.
It still amazes me how much influence chain still wills when it comes to the Issue of Bitcoin. This just showed that whether it is even fake news or FUD, as long as China's name is mentioned in it is just enough to make the Bitcoin market tumble and it doesn't matter whether people believe it or not like here
I don't think the Chinese government has such a big influence on the bitcoin market. Can only one message produce a big decline? I don't believe it.
and the question also is, why are investors so quick to react to this kind of FUD?