A Chinese state-run newspaper has warned about bitcoin’s price falling to zero. cryptocurrency crypto $BTC
Chinese State-Run Media Warns About Bitcoin's Price Falling to Zero as Regulators Issue Fresh Crypto Warning
The article warned that investors should beware of the risk of bitcoin prices “heading to zero” amid the recent crypto market sell-off. In the future, once investors’ confidence collapses or when sovereign countries declare bitcoin illegal, it will return to its original value, which is utterly worthless.
The warning from the state-run media reflects Beijing’s firm stance against cryptocurrency and related activities that the government has outlawed.On Tuesday, the Financial Regulatory Bureau of Shenzhen, the Shenzhen Central Sub-branch of the People’s Bank of China, and the Shenzhen Development and Reform Commission also jointly issued a warning that investors should be vigilant of illegal financial activities relating to crypto and how to avoid being scammed.
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