Chinese media urge investors not to speculate on cryptocurrencies

The Chinese Communist Party-owned People's Daily urged investors to remain calm andDo not speculate on digital assets, as the share price of blockchain companies jumped after the statement of President Xi Jinping.

The newspaper said that government support for blockchain technology does not amount to cryptocurrency support.

The growth of blockchain technology has always been accompanied by the development of cryptocurrencies, but innovation in the field of blockchain does not mean that we should speculate on digital assets.

According to a Bloomberg report, after this publicationThe Shenzhen Stock Exchange index fell 2.8%, the biggest drop in a month. Recall that after a statement by the President of China, the shares of more than 60 local blockchain-related companies grew by 10% or more. In addition, most cryptocurrencies developed in China also show significant growth.

Based on materialswww.theblockcrypto.com