There are many statements being passed by Chinese state-run newspapers about bitcoin after the drastic fall of Bitcoin. But many investors are calling this a cycle. And I too feel the same. The market goes down but it also goes up.
China and its news always have another purpose behind what they inform. So don't be surprised when their media says so. There have been many things that China itself has taken advantage of to enrich themselves. Don't be swayed, because China is not at all friendly with Bitcoin since they stopped mining and left with a profit. No one will care about the news let alone the Bitcoin community.
Agreed! Chinese news media is government owned and giving such statements without any concrete reason is not valid.