"A lie can run round the world before the truth has got its boots on."
(Terry Pratchett)
The whole CryptoCurrency market suffered a huge loss of more than $20 Billion Dollars in regards to its market cap. All just due to some news, which were based on zero evidence. At least there was nothing officially provided yet and no major exchange received any notice at all about anything being shut down.
That being said it´s hard to believe that the officials are actually planning to shut down the Chinese exchanges. To be honest I rather believe that it was a clever move from someone to gain some profits from a cheap rebuy or some opened short Positions...
Actually the Chinese Government seemed to have clarified the legality of Bitcoin earlier this year, which pretty much already shouts for none exchange being closed. Especially as they all comply to any regulations being pushed on them until today.
Even a day after the huge price drop on basically all Cryptocurrencies there are still some fake news being published in order to get the market to even lower levels. One example on this is a fake Twitter Account on the Chinese Exchange BTCC, which published that it would have to shut down its operations within 24 hours...
But fortunately Users recognized the fake pretty quickly on Twitter as many left a link to the official BTCC account or exposed the Tweet as Fake in the comments. Taking a look on the account data it´s as well just too obvious as it only got created in May 2017. About 3 years after BTCC started its operations...
So don´t believe everything that you might hear or read. Some people will always try to influence the markets to their favor just to make some extra dollars. Go through all information carefully and do your own research first before you react. That´s what I can recommend ;)
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(A Proud German Ambassador from & for Teamaustralia!)
