My question here is, is it that the Chinese government has the power to shake the market just with a mare statement
And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?
Honestly, I'm not that surprised about this news because China have been always banning crypto over and over again. IMO, China is intentionally doing this to shake the market and to make it dip.
This marks Beijing's latest racheting up of restrictions on what it sees as a vehicle for capital flight and competition for its digital yuan