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 is not a false alarm mate it is reality and this is the reason why market is hurting once again now. the Price is now little by little recovering but it is truthful that this banning always take place in the market.
maybe Manipulators took advantage? or just panicking is affecting the whole market?
because now it is not only bitcoin but all of the cryptos are in Red zone .
I don’t normally pay close attention to fuds and most time I just disregard such news; I think this is a plot by the china government to pave the way for the digital yaun as it’s about to be launched. But banning cryptocurrency in their jurisdiction may render their own CBDC ineffective, as there will not be room for a competitive market.
it may sound FUD but it isnt , this is a correct news and crypto is affecting .
But i doubt that this make the whole amrket suffer again for another months like what happened in 2017 , now the investors shows strong hold and also we have legit investors now that made the market stays in its level .