China Central TV warns on the crypto bubble in an investigative piece it ran: "Blockchain Cryptocurrency Bubble Accumulates"

cites example of

  • a cryptocurrency investor who has lost tens of millions of yuan since the start of the year with mistimed bets on Bitcoin
  • "In actuality, this isn't the first time that Yang Chao has speculated on coins," said the report. "Prior to the banning of ICO's and cryptocurrency trading platforms, his losses already exceeded 2 million yuan."
  • Yang Chao feels that the ICO ban launched by the central bank has not had any affect whatsoever on investors like himself."Yang said that investors like himself are far from few in number...the main reason that he invests in cryptocurrrencies is that the prices undergo large-scale fluctuations.

Link is here for more

No offence intended but Yang Chao doesn't sound like the sharpest tool in the shed.

Anyway .... BTC update.... no large-scale fluctuation today so far:

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