According to [cointelegraph](https://cointelegraph.com/news/breaking-chinese-exchanges-resume-withdrawals-bitcoin-likely-to-surge), a piece published in Chinese social media website Caixin revealed that China plans to shut down a few exchanges, as part of their plan to ban ICOs. As a result, the entire market is in red again.
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![Screen Shot 2017-09-08 at 6.31.32 PM.png](https://steemitimages.com/DQmamfp4qgNtEzusmndPk71oLwQueEiEVBgWUVyNe1dVRu2/Screen%20Shot%202017-09-08%20at%206.31.32%20PM.png)
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If I would be in this thing just for a few months, I would probably have the same knee-jerk reaction, selling in panic. But given the fact that I've already seen similar approaches from the land of the silk, I just think to myself: "whatta wonderful time is this to buy...".

So, for those who are a bit more worried: China has a consistent track of pushing the crypto market in various ways, only to release the pressure a few days, weeks or months after. I have yet to know the reasons it does that, but that's how it plays. A similar exchange ban happened this spring, when OKCoin was stopped. Activity resumed after a couple of months, and one of the results of this ban was actually positive: wash trades (trading your own money, anonymously, to manipulate the market) got the eyebrow, so the price followed a more predictable pattern.

So, even if STEEM lost about 13% in just a couple of hours and Bitcoin almost 8%, I dare to consider this just FUD. 

Which, if you don't know, comes from: Fear, Uncertainty and Doubt. 

Or, in our case, Friday Usual Dump.
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_I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at [Dragos Roua](http://dragosroua.com) where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua._
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<center>_You can also vote for me as witness here:
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_If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform)_:
* [Rewards: Were Does The Money Come From?](https://steemit.com/steemit/@dragosroua/steemit-newbie-faq-rewards-were-does-the-money-come-from)
* [Netiquette: How To Avoid Being A Steem Douche?](https://steemit.com/steem/@dragosroua/steemit-newbie-faq-netiquette-how-to-avoid-being-a-steem-douche)
* [Witnesses: What Are They And Why Should You Care?](https://steemit.com/steemit/@dragosroua/steemit-newbie-faq-witnesses-what-are-they-and-why-should-you-care)
* [How Can I Mine Steem And What CPU / GPU Power Do I Need For That?](https://steemit.com/steemit/@dragosroua/steemit-newbie-faq-how-can-i-mine-steem-and-what-cpu-gpu-power-do-i-need-for-that)