How Can Announcement From China Affect Markets? Here are the Interesting Claims!

According to a report published by The Block, the Chinese police announced the value of the cryptocurrencies they seized in connection with the PlusToken operation. Among the coins seized by the Chinese police are 194,775 BTC, 833,083 ETH, 1.4 million LTC, 27.6 million EOS, 74,167 DASH, 487 million XRP, 6 billion DOGE, 79,581 BCH and 213,724 USDT. The value of all these cryptocurrencies is $ 4.2 billion.

FUD Accusations
Hearing the news, the cryptocurrency community started to focus on FUD. PlanB, one of the prominent names in the cryptocurrency community, criticized Larry Cermak from The Block and stated that he had previously made FUD As is known, FUD means fear, uncertainty and doubt; It is done in order to confuse investors with the news released in certain periods and to try to decrease the value of assets.

On the other hand, the famous analyst Byzantine General announced that these crypto coins were seized a while ago and this is not new news and has no effect.

The Claim That Beings Are Not Moving!
Another analyst, Alon Gal, claimed that China took a check after it seized $ 4.2 billion of cryptocurrency, and assets associated with PlusToken have not moved at all for a long time. The analyst used the following statements:

“The Chinese police claim to have seized $ 4,200,000,000 from the biggest pumice ever (PlusToken), but I see the funds associated with Ponzi not moving within 100+ days. Something is wrong here. ”

According to Alon Gal, either the police are genuinely sure that the private keys and no one responsible for the pyramid chain has the keys, or they are lying. Gal states the following:

“I’m not sure how the funds were confiscated. Even if the funds were seized 100+ days ago, transactions with funds seem to have gone through mixers, I have never seen an official trading this way before, it wouldn’t make sense.

At the time of writing, the news coming from China has not yet observed any effect on the markets. While Bitcoin was traded at $ 16,879, according to CoinGecko data, it has increased by 1.2% in the last 1 hour.

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