Media Spread Wrong “China Bans Bitcoin” Narrative, Causing Bitcoin Price Slump
Recently, the Chinese government and the People’s Bank of China offered reasonable suggestions to Bitcoin exchanges and users, discouraging fake volumes and offline scam-like promotions while asking users to maintain responsibility for their independent actions. But some media outlets, mostly western-based, used the events to spread panic among Chinese investors, leading the price of Bitcoin down to $830. No Bitcoin ban. However, the price of Bitcoin quickly recovered, as major Chinese exchanges including BTCC published statements pertaining to the discussion they had with the Chinese....
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