Updated: Jun 20, 2021
On June 5th, the Chinese government once again indicated its opposition to cryptocurrency and banned the accounts of certain key opinion leaders from Chinese social media website Weibo. The banning led to a market wide fall in cryptocurrency prices, including a 12% drop in the price of Bitcoin.
CrowdSense detected a feed relating to the Chinese government blocking the accounts of these influencers a full 2 hours before major financial news websites broke the story, 4 hours before Bloomberg News Terminal, and 10 hours before the story appeared on Coindesk crypto news website.
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