BTC has created FUD

Fake news by Bloomberg on BTC has created FUD in the market, price plunges by 5 percent

Fake news by Bloomberg on BTC has created FUD in the crypto market. Anti-Bitcoin publisher has sent out a fake “Breaking News” without mentioning the source, which has caused the price of BTC to fall by $2000.

Fake news by Bloomberg on BTC has created FUD in the market:

Bloomberg is known for its anti-Bitcoin post since the pre-internet age. Bloomberg has published a piece of fake Breaking news without linking to the source which has created FUD in the whole crypto market.

BTC has created FUD
The Fake news published by Bloomberg

Bloomberg wrote an article with the title” the Chinese central bank says all cryptocurrency-related transactions are illegal”. Well, this news is fake because the statement of the central bank is a reiteration of what has already been said in the year 2017. On September 15 PBOC has stated:

Virtual currency-related business activities are illegal financial activities. Carrying out legal currency and virtual currency exchange business, exchange business between virtual currencies, buying and selling virtual currencies as a central counterparty, providing information intermediary and pricing services for virtual currency transactions, token issuance financing, virtual currency derivatives transactions, and other virtual currency-related Business activities suspected of illegal sale of tokens and tickets, unauthorized public issuance of securities, illegal operation of futures business, illegal fund-raising and other illegal financial activities are strictly prohibited and resolutely banned in accordance with the law. Those who carry out related illegal financial activities constitute a crime shall be investigated for criminal responsibility in accordance with the law.

There is nothing new in the above-given statement of PBOC because it has been the stance of them for years now. They have added a new point that aid overseas companies providing crypto-services may be investigated.

This news by Bloomberg has created FUD in the crypto market and panicking traders closed their trades to avoid further loss. BTC’s price fell from $45k to $43k. I think this was pre-planned to get off the attention from the devaluation CNY caused by printing more than $100 billion.

Bloomberg was complaining earlier about shady press release in the Crypto and now itself has become part of this shady role. Due to this fake news on BTC has created FUD in market. For more content please click here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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