Yes - the truth is that ridiculous.
To People New To Crypto "China Bans Crypto" Sounds Like An Important Story - But, It Isn't...
Every few months, China bans crypto. They've been doing it for years.
Not only is it a non-story because nothing changes fundamentally, but China has been announcing crypto bans for so long we have historical data to prove that Bitcoin's value passes every price-point they made these announcements at - a predicion we can believe will happen again, as it has been tested and re-tested several times over.
Actually, China does this so often, crypto-twitter waits on standby with memes ready for the occasion. Let's let them sum up the situation...
Those were a few favorites, and on a day when you've watched a chunk of your portfolio's value disappear for such a ridiculous reason - all you can do is laugh and remember: it's always recovered!
Looking forward to seeing what memes people come up with next time - which unfortunately, we all know is coming.
------- Author: Justin DerbekNew York News Desk