The People's Bank of China (PBOC), which carries out monetary policy and regulate financial institutions in mainland China, has shaken the cryptocurrency world with the ICO ban at first, and then with the official ban of cryptocurrency exchanges.
However, the majority of the cryptocurrency community speculate that the last one is nothing but fake news.
Thus, back to September 8th, Samson Mow, CSO of Blockstream and CEO of Pixelmatic, claimed that the China exchanges shutdown might be just a conjecture.
— Samson Mow (@Excellion) 8 сентября 2017 г.
Yet, as reported by cnLedger, now a fake screenshot about PBoC officially banning the exchanges has triggered huge sells in the market.
Always Fact Check: An hour ago, a fake screenshot (PBoC officially bans exchanges) sent to Wechat groups triggered huge sells in CN markets pic.twitter.com/vL5W7LqrQb
— cnLedger (@cnLedger) 12 сентября 2017 г.
It goes without saying that such news influences Bitcoin price significantly. At the time of writing, the price of the first cryptocurrency is about $3,789 and its market capitalization is $62,894,655,665.
Bitcoin price chart on coinmarketcap.com
Still, some people argue that whether the Chinese news is fade or real, the Chinese market is not so important.
China is out of game since 2013 when they banned business-to-BTC. Now there are only fake volume exchange. I'll be not missing them.
— AndyK (@Andy_Mnem) 12 сентября 2017 г.
What the future has in stock for Bitcoin and the whole crypto world, remains to be seen. We'll keep you updated.