Some conflicting news was published today, several Chinese news sources stated Bitcoin and other Crypto-Currencies were going to be banned. Due to this news, a ton of Crypto-Currencies are dropping rapidly. Bitcoin is down 8.43 percent, and Ethereum is down 10.65 percent. This is no shock to the more weathered Crypto-Currency investors as huge dips like this are common in this space. We recently saw a large dip last weekend and it seems like we have reached a possible bear market.
The Bitcoin news in China has been confirmed fake, China is not banning Bitcoin. The news published was most likely sensational news or simple FUD to drop the Crypto market. Watch the dip, as it is currently a fantastic time to buy into Crypto-Currencies.