Looking at coinmarketcap.com this morning, it looks like most cryptocurrencies are down again today. If you take a closer look at bitcoin, you'll notice that China is dragging the market down.
Chinese exchanges are trading at almost $500 less than other exchanges around the world.
The rumor that China would ban cryptocurrency exchanges dragged the market down yesterday. It looks like that is continuing today, although China has not yet said anything official about banning the exchanges. The owners of some of the exchanges have even spoken out on social media to say that they have heard nothing of the Chinese government banning cryptocurrency exchanges. It seems like a lot of FUD (fear, uncertainty, and doubt) at the moment.
Whenever bitcoin goes down for no good reason, it always comes back stronger than it was before. On the other hand, if China does officially say it will be banning cryptocurrency exchanges, bitcoin could drop much further than it already has.
What do you think? Is this all FUD? Or is it time to sell all of your bitcoin?