Where and When Did the Ban Announcement Originate From?
BTC 5m candle chart, approximately 3pm ET, 9/24/21.
The announcement today posted on the People’s Bank of China’s Website caused a giant dip in the short term around 4:30 am ET. However, after some Twitter investigating, it seems that this announcement was made over a week ago.
Memo/Announcement discussing the ban that’s dated for September 15th.
So, even if this potentially was announced over a week ago, the PBOC did not place it on their website until today, which created a large amount of sell-side pressure after Bloomberg broke the announcement.
With all this information laid out on the table, it leaves much to be wondered. Where were the confirmations of this sooner if such a memo/announcement potentially existed already? Was this only known by a few insiders before today’s announcement?
A lot of this leaves more questions than answers.