According to @AltcoinGordon, historical market behavior indicates that news or fear, uncertainty, and doubt (FUD) around China banning cryptocurrency frequently coincides with local market bottoms for major assets like Bitcoin (BTC) and altcoins. This pattern has previously created buying opportunities for traders as sellers capitulate and prices stabilize before upward reversals, making such FUD events a closely watched signal in crypto trading circles (source: @AltcoinGordon).

According to @rovercrc, China has officially declared cryptocurrency trading, mining, and related services to be illegal. This announcement is expected to create significant volatility in the global crypto markets, with immediate impacts on Bitcoin (BTC) and other major digital assets as traders react to increased regulatory pressure and potential liquidity shifts. Market participants should closely monitor price action and trading volumes, as further declines or abrupt movements in crypto prices are likely following this regulatory development. Source: @rovercrc.

According to Adrian (@adriannewman21), China's official ban on ICOs in September 2017 led to a significant retracement in Bitcoin (BTC) prices, with BTC dropping by approximately 30-40%. This historical price movement highlights the substantial influence of regulatory actions in major markets such as China on cryptocurrency volatility and trading strategies. Traders should remain vigilant for regulatory news from large economies, as such events have proven to trigger sharp short-term market corrections and create both risk and opportunity in BTC and other digital assets (source: @adriannewman21).