As of today, the Chinese central bank has announced that all crypto transactions are deemed illegal.
Investors who have been in the crypto space for a while know that once in a while China announces that they are banning crypto (again). This FUD comes in once in a while and often sends the market down, but fails to make a lasting impact on the market.
A quick google search has netted me a decent amount of times that China has banned crypto, see the chart. I'm sure that if you dig deeper you'll find many more occasions of China "banning" crypto. Feel free to share them below.
What you can deduce from this graph and the corresponding news is that, in the long-term, China banning crypto has had no significant impact on the markets. As for today, it seems that the market is already rallying higher with many coins close to their opening prices of today.
Happy trading!
Investors who have been in the crypto space for a while know that once in a while China announces that they are banning crypto (again). This FUD comes in once in a while and often sends the market down, but fails to make a lasting impact on the market.
A quick google search has netted me a decent amount of times that China has banned crypto, see the chart. I'm sure that if you dig deeper you'll find many more occasions of China "banning" crypto. Feel free to share them below.
What you can deduce from this graph and the corresponding news is that, in the long-term, China banning crypto has had no significant impact on the markets. As for today, it seems that the market is already rallying higher with many coins close to their opening prices of today.
Happy trading!
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