China has had a bad opinion of Bitcoin at least since 2013 when the first bans began, but the real problem is not in China, but in those who still firmly believe that the country should have any meaning when it comes to Bitcoin. Therefore, I do not see a problem in the fact that China from time to time refines or tightens a rule, but that it is used by various speculators to bring down the price and thus buy cheaply and, as already countless times, profit from it.

The crypto market is simply still extremely manipulative, those who know how to use the media and any bad news can literally make something that looks really bad out of insignificant news. When we add to this that surely about 80% of people involved in the world of cryptocurrencies do not know some basics, then it is clear how easy it is to get them to panic, and panic is like a virus that spreads at an alarming rate.