These days, you should now be expecting crashes from Bitcoin and bans (fake or real) from countries. The Chinese government is considering to ban cryptocurrencies in China. There is a report saying that the citizens of China will not be able to purchase, trade, or exchange cryptocurrencies.
However, this isn’t a full ban because it just deals with exchanges. Which leads to the HUGE drop you see today because what value is a Bitcoin if it cannot be exchanged?
Realize, this also isn’t the first time that China has banned this exchange. In 2013, BTCChina was asked by the Chinese government to STOP accepting deposits of the Chinese Yuan. The result of this news was a 50% DROP in BTC, but later the government changed its mind.
In other words, it’s time to capitalize when breaking news occurs.