China FUD = BTC on SALE!!!!
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.
This resulted in one hell of a dump - around 5% in western markets, but upwards of 10% on Chinese exchanges.
Luckily the people at BTCChina were of sound mind, and did their best to calm the panic/stop the insanity.
The lesson to be learned here? I tried to sum it up in under 140 characters.
Thanks for swinging by! If you'd like to further support the show, please hit up my affiliate link and grab yourself a kickass hardware wallet :)
Hey benperrin117,
Thanks for the great content
Hey no problem man. Glad you like it :)
China has really been shaking things up this week in the Crypto World.
People need to have some basic undersitanding and belief in order not to be fooled easily.
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!
No problem! I figured it didn't take too much explanation :)
Nice post man
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. ?