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China Central TV carried a story titled “Blockchain Cryptocurrency Bubble Accumulates”, in which it warned on the crypto bubble.

Key Points:

A cryptocurrency investor who has lost tens of millions of Yuan since the start of the year with mistimed bets on Bitcoin.

“In actuality, this isn’t the first time that Yang Chao has speculated on coins,” said the report.

“Prior to the banning of ICO’s and cryptocurrency trading platforms, his losses already exceeded 2 million Yuan.”

“Yang said that investors like himself are far from few in number…the main reason that he invests in cryptocurrencies is that the prices undergo large-scale fluctuations.”