I was eating my lunch and browsing twitter and talk in a discord crypto group when i go to trading view and see a giant red candle in all markets, BTC was down from 4600$ to 4000$ in seconds, we all confusing in discord and we couldn't find any explanation to this crash. I start seeing tweets about a article in chinese saying China is banning crypto exchanges, the average investor and trader starts to panic sell leading the market to crash about 15% and lose 10b in a matter of seconds. One of the tweets and news that helped creating and spreading this FUD was this:
http://finance.caixin.com/2017-09-08/101142797.html
https://twitter.com/yhaiyang/status/906166588251844609
- yhaiyang
Its amazing how a fake rumour spreading like a virus and getting viral can crash the market and cause false FUD, this only proves how easy is to manipulate this market and we need to aware of the risks that are involved investing and trading in it.
After some minutes the market is recovering well and the ones that had fiat got some cheap coins, this was a event to test some investors and traders but the majority of the people lost money and coins panic selling.
https://twitter.com/luluyilun/status/906163511658557440
- luluyilun
You dont want to stress with all this events? Just Hodl the coins and you will be fine
This was one more typical China ban, China buys, check my last article about the ICO China Ban -> Market crash? Why this is a good thing and how you can profit with it
South Park knows the drill
Dont freak out, this is pure manipulation, the weaks lost coins and money, the strong just watch the event and got more coins
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