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China may ban Bitcoin trading, but the market doesn't seem to care

Late last week, a report from Caixin shook the Bitcoin world. According to the state-owned media outlet, China plans to ban all cryptocurrency exchanges. The report was followed by a similar one from The Wall Street Journal, which cited anonymous sources familiar with the matter. 

And, initially, the price of Bitcoin plummeted, falling from roughly $4,600 to $4,000. But three days later, the price of Bitcoin (and most other major cryptocurrencies including Ethereum) is rising again.