After the People’s Bank of China (PBoC) prohibited cryptocurrency transactions and mining the price of Bitcoin and other cryptocurrencies fell as a result. In the last 12 years, China has banned cryptocurrency around a dozen times. Every time they impose a ban on crypto currencies, they instil FUD (Fear, Uncertainty, and Doubt) in the crypto community within China and abroad. Is the recent decision to impose another ban on crypto activities shifting the market’s current state from FOMO (Fear of Missing Out) to FUD (Fear, Uncertainty, and Doubt)? I would like to discuss this with the BigONE community.
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