China FUD = BTC on SALE!!!!steemCreated with Sketch.

in bitcoin •  7 years ago 

I wanted to get this out there asap, as the FUD can spread fast but the truth takes longer to bubble to the surface.

This morning there was a story out of China saying that all Bitcoin exchanges were going to be banned:
http://m.finance.caixin.com/m/2017-09-08/101142797.html

Even though the news was completely unsubstantiated, that didn't stop the CEO/founder of ViaBTC from helping spread the FUD before getting credible evidence.

Screen.jpg

This resulted in one hell of a dump - around 5% in western markets, but upwards of 10% on Chinese exchanges.

Screen Shot 2017-09-08 at 10.58.35 AM.png

Luckily the people at BTCChina were of sound mind, and did their best to calm the panic/stop the insanity.

Screen Shot 2017-09-08 at 11.01.14 AM.png

The lesson to be learned here? I tried to sum it up in under 140 characters.

Screen Shot 2017-09-08 at 11.01.58 AM.png

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7 years ago by

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      ·  7 years ago 

    Hey benperrin117,
    Thanks for the great content

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      ·  7 years ago 

    Hey no problem man. Glad you like it :)

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        ·  7 years ago 

      China has really been shaking things up this week in the Crypto World.

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        ·  7 years ago 

      People need to have some basic undersitanding and belief in order not to be fooled easily.

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        [-]
          ·  7 years ago 

        You were the only guy who came out with this and explained it short and sweet. The other shows I watch just said price dropped because of FUD. Thanks for the details Ben!

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            ·  7 years ago 

          No problem! I figured it didn't take too much explanation :)

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              ·  7 years ago 

            Nice post man

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                ·  7 years ago 

              As a regular viewer of your videos I wanted to watch this one. Instead got message that you as video owner disallowed watching this on anything but YouTube. ?

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