Bitcoin COLLAPSE?

We have all witnessed the last week's decline of bitcoin. The concerns of this cryptocurrency compared to fiat currency is touchable when a highly regarded Chinese adviser from the The People's Bank of China (PBOC) @ShengSongchen made up his thoughts on the official magazine @Yicai a couple of days ago. His statement was the following:

"Bitcoin does not have the fundamental attributes needed to be a currency as it is a string code generated through complex algorithms... But I do not deny that virtual currencies have a technical value and are a type of asset."

So to draw the line short - @ShengSongchen thinks this crypto is rather ok with it's virtual technical value even though he claims it lacks the fundamental attributes to be a good currency. And with much investers in the cryptocurrency community supported by the Chinese, their investments are absolutely crucial as @Coindesk suggests. Hopefully is it still that the Asians will not disorientedly follow these regards.

Through my observations on the bitcoin currency as of todays value and the past week's that I biblically have followed, I have not seen any negative effects after these news was launched directly linked to this source and I don't believe it ever will, so fasten your seatbelts people: we are going on a bumpy ride!

What are your thoughts so far, BUY or SELL or trade for ICOs? Leave a comment, upvote and resteem for more top prioritised news and don't forget to follow me @zyzz. As always, trade safe!

I do not own the picture.
Refference link: http://www.coindesk.com/change-china-means-bitcoin/
Picture: https://www.google.se/search?q=bitcoin&client=ms-android-samsung&prmd=niv&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjZroCuy4DVAhWDDZoKHS-OBYUQ_AUICigC&biw=360&bih=560#imgrc=3wOLFoZk5eQ2lM: