Another wave of Bitcoin FUD is coming from China as the Chinese central bank claimed that local state agencies have improved tools to fight against crypto transactions more effectively.
The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country.
The People’s Bank of China (PBoC) officially announced on Friday a set of new measures to fight against crypto adoption in China, including promoting stronger inter-departmental coordination in cracking down crypto activity.
https://cointelegraph.com/news/chinese-regulators-unite-forces-to-crack-down-on-cryptoCan this negatively affect the price of Bitcoin or has the market already reacted to it because it is old news?
There is no possibility for china to shift bitcoin, or do anything to make bitcoin go down at an unreasonable price, the negative impact of the ban imposed by china will also not have much effect on bitcoin, because bitcoin itself has been through tough times from the start until now, most people actually trust bitcoin more than listen to the ban they put in place, but for cryptocurrencies in general it will be little affected by the actions taken by the state authorities that bring the power to combat crypto operations, but I believe bitcoin will have little effect on the matter .