@pooya87. The was only clearly waiting to happen knowing how much leverage took bitcoin to its new all time high.

@Jeeny43. Yes it appears the sensationalized fud from mainstream news and bitcoin news media is losing its effect. Let us wait for updates after Chinese officials meet in Sichuan on June 2 and further announcements from Beijing on June 4.

This article is from Okex and tells the real story. China did not ban bitcoin, however, it will make policy changes to discourage excessive speculation and control carbon emission.



Here’s the real fact based news. China issued a notice last Friday from the State Council, which aims to clampdown on crypto exchanges and mining, mainly due to potential risks for consumers and society in China.

A few days prior to the State Council notice, the China Internet Finance Association warned the public about the risks of investing in cryptocurrencies, listing four specific issues with cryptos they want to address:

Institutions should understand the nature of Bitcoin and digital currencies.

Financial institutions should not engage in crypto-related business transactions.

China does not offer legal protection for crypto-related investment contracts.

Financial institutions should abide by existing regulations regarding digital currencies.

Due to the State Council notice, some miners have decided to look elsewhere for mining in the interim until the notice is enforced. In addition, exchanges such as OKEx have scaled back some services and products offered to Chinese nationals only. Any changes due to this notice are not impacting non-Chinese nationals, and will only affect users who reside in China and use the Chinese currency renminbi.

Source https://medium.com/okex-blog/no-china-didnt-ban-bitcoin-and-cryptocurrencies-815d58ef5134

@mk4. Agreed. However, if you do the research and check some of the news media’s sources, you would see that there is some basis for the news. But what the news media is also doing is add some exaggeration and sometimes misreport the news to make it appear more than what the news really was to clickbait the readers.

Read the article from Okex. That is the real news. There will be policy changes in China but it is not targetted towards bitcoin.

Short answer is yes (in my opinion)

The fud didn't "wear on" for seasoned investors but BTC is always attracting new people to it and they have to go through the same trial by fire as everyone else. The attacks on btc will never stop. People just need to develop some trust in the concept of bitcoin and then they will fear no fud.

I sold half my stack the first time I heard BTC was being banned in China... and wound up buying back in.... I learned the hard way the best way to win is to pretend the sell button doesn't exist.

It is boring because we are not used to it. A 3% rise in a blue chip in one day is a very good session while in Bitcoin it's boring. We are coming off a season of beating ath after ath, which is exciting but very rarely seen in the investment world. If you find this time in Bitcoin boring you will find almost anything investing boring.

Regarding what the OP raises, yes I think you have stated to wear off, but at the slightest it will reappear.

I don't think so because FUD will always be there, look at the prices when it was around it's highest, people are still spreading FUD because everyone tries to manipulate the market into their likeness, they want to have their ego always fed so they do what they have to do.

Hey, that's how they want things to go. Not like they'd give a damn on how you see their FUD, if it makes the market move, then they'd do it. That's p much it. Yes, the initial FUD is over, and together with the correction was the one that brought BTC back to below $35k or so, and that'd be pretty much it. Any FUD news now would just have some kind of low influence in the market since it is trying to stabilize itself at it's the current level. Highly doubt people would also panic sell again after it calmed down already.

Was it really FUD or just a correction? I think that people are now used to all these price changes and not longer react so sharply on drops. Only people new to crypto are prone to panic. Those who have caught drop from $20k to $4k are now fully resistant to $60k to $37k decline.
I just caught myself not even reading crypto news, that can impact on the price negatively. I just read what new is released and what is updated.

Holding btc rather than sell it now is the best way to avoid financial loss. But it seems that many new bitcoin users are afraid too much, they should know what they bought. Most of us already know that bitcoin market is extremely volatility, it doesn't mean that if Bitcoin price fall then it will not rise again. I hope people who starting to invest in btc learn about what is btc and how the market works. I personally take higher risk now by don't buy bitcoin at this time, my instinct said that there is a bull trap. I don't know whether it is right or not but based on my predictions I think the price of bitcoin must be reach lower than 30k during this bear market. But I am not an expert, maybe I am wrong.

I think experience and faith in the system determines as to how long your perception from the FUD thrown to you by the various constraints of the system would last. At the moment,  we've seen bitcoin and altcoin price fall to almost half its original price. I don't expect any other fall below the $30k zone. Investors were looking out for a dip and thats just about it. No news or tweet what so ever would have any further effect on the cryptocurrency market because, the fud is very much over and what is being anticipated for at the moment is when would the next bullrun start. I see bulls getting stronger in there positions and crypto enthusiast lost faith in Elon Musk so, there is just about a few things that could promote any form of fun in the system now. We going back to our old ways.