 Welcome to Digital Asset News, like a top stories in crypto and breaking out of bite-sized pieces. Today is just a very odd day because this dip really shouldn't have happened, and I'm going to explain why. So we're going to talk exactly about what the story is behind this dip. Then we're going to talk about the real story. I'm going to get some of your responses from Twitter, and then I'm going to talk about why it's so important to do your own research and why it's never a great idea to panic sell, which what we're seeing right now. I'm going to tell you exactly what I did as far as with this dip. So we'll go over all those things, but first take a look at what's going on into the market. And as you may have guessed, it is a little bit down. Not too bad, but it is what it is. And we're looking at the Bitcoin price at $41,557 Ethereum, $2833. I think we're just below $2 trillion market cap, Cardano the 220, and everything else. So like within the last 24 hours, Cardano is up actually at 0.85%, not too bad. And then everything else is in the red, except for Terra Luna on the tear, 2%. But everything's down. And the question is, well, why? Well, why is that? And really, there's not a good story behind it. I can tell you why it is, but I'm going to tell you the story and what this actually came down to. But first, before we do that, I want this image to be burned into your brain if you haven't seen this already about a thousand times. And if you need a crypto, this is something that you need to know about so you can kind of be prepared. And that is the China Bands Bitcoin all the time. They just ban it, and then all of a sudden they'll come on, go, oh, we're going to ban this again. Or, oh, there's this new wrinkle that we're going to ban. We're going to ban specific cryptos like tomato coin or whatever stupid thing else that's out there. But really what it comes down to is that these stories keep regurgitating. And for the uninitiated people who haven't been in the space too long, this looks like the worst thing of all time, and they haven't done their research, which I understand a lot of things going on. And then all of a sudden, before you know it, panic sale. So just remember this, that every single year China bans Bitcoin. And nothing against the Chinese people, but we just have to realize that cryptocurrency is doomed in China for quite some time. They're going to have their own digital yuan. Good luck with that. But as far as like Bitcoin and anything in the market cap, it is gone. They're not going to be able to do too much with it. So let's just cut them off. And that's really what it comes down to. So that is it. Here is the actual story itself. Chinese regulators unite forces to crack down on crypto. The PBOC, People's Bank of China, officially announced on Friday a set of new measures to fight against crypto adoption in China. This is the direct statement. Financial management departments, cybersecurity and information departments, telecommunication departments, public security departments and market supervision departments work closely together to cut off payment channels, dispose of relevant website and mobile applications in accordance with the law. So that is essentially what they are doing. And that is that is a part of the story. Now, the thing with this is that we know that back in around May, June, some around there, China kicked out all the miners. And that just caused a huge sell-off of Bitcoin because we were like, oh no, we're not going to be able to mine in China. I thought that was the greatest news of all time. I'm like, great. If you want to do away with one of the biggest technological advancements and boot this industry out, we'll take it all day long. And that's what happened in Texas. And they welcomed all the Chinese miners to move over. And it's going swimmingly well. Now, the SEC could just work with crypto. I think we'd have a real winner and America, North America, could really lead the way in crypto. But that's another story. So with this one, that is what is happening as far as like this. So here is the actual story behind the stories, like to say it or the real story. And again, I will want you to notice that Cointelegraph did both of these stories. So at least they realize that, hey, you know what, we really should put the story behind the story and what's really going on. And it says Bitcoin suddenly lost $2,000 in an hour on today as what appeared to be old news or of a Chinese regulatory ban hit social media. And the knee jerk move came as a memo from the Chinese central bank or the PBOC began to circulate online criminalizing practically all crypto activity except possession. So in China, you can't mine it, you can't trade it, but apparently you can have slight possession of crypto, which is kind of weird. It's like, it's like, you can have that gold bar, but you better not use it for anything. That's essentially what they're saying. And this was from Molly at Big Mac Dow. She says the PBOC's announcement about banned crypto got widespread today was announced on September 15 post online. The market already reacted to this FUD story. And here's a little representation. So the question is, then why? Why did this happen? And what was the reason behind it? Well, thankfully, I've got some pretty smart subscribers. And this is what they said as far as like your responses on Twitter. Also, if you're not following me on Twitter, it's that news asset everything I'm I usually talk about in these videos, I talk about first on Twitter, because that's where all the that's where you get all the great information first, because it's a lot easier to send a tweet than to make a video and edit and upload and all good stuff or write an article I can coin telegraph. So I said this, I go, look, if this China ban is the reason for the dip, then people really are gullible. The Twitter, Bitcoin news yesterday was massive. And I'll talk about that in a bit. And here we are with this China nonsense. And this is Sean says, I think bears are pushing it down. Someone really wanted their opinion call to be right or option call. There's always something in store for us every last Friday of September agreed. This is very funny. Cryptos are not currency in China. So many think Bitcoin is legal tender need to go to 37 before Dermot Beverly says that's because they don't understand fundamentals and are gambling looking for the quick win. I stopped playing the market a long time ago, and I'm just trickling cash into crypto when I can, otherwise known as dollar cost averaging. I like that. It's an old statement. I don't think it's people being gullible says Dr. Marano, it's whales who use these news to dump, which then leads to weak hands dropping their asset and liquidation of longs. I just buy every dump like the fish that's attached to the whale. And that's pretty much the big stories or the big thinking around here. Some people just say, Hey, you know what? It's just people like in case you miss it says weak hands and weaker minds. I don't think it's weak hands and weak minds. I just think it's just people who are somewhat uninitiated and really need to dig down into it, which leads me to my next point. And that comes to this. Do your own research and panic selling. So this was a pretty good survey from Guy over at Coin Bureau. Fantastic channel. One of the channels I recommend in my description below. You can find this. It's like eight I always watch every day or choose try to. And he says this, this is, let me pull this up so you can see it. This is bring this up a survey or a share that would invest in crypto if the following people endorsed it. I don't know the actual sample size, but I'll get to that. It says, if it was in gold as an investor and blue as a crypto owner. So they state, if your financial advisor recommended, would you buy it? And 57% of investors said yes. And crypto owners said 81% said yes. A family member, a friend, 49% 76% a reporter, 27 53, a celebrity or an influencer 20 and 45. So one thing I will make mentions this is that your financial advisor, it's amazing that 57% of investors, whatever they are into will say, yes, if they recommend, you know, I'm almost 60%, I would invest into that because I trust my financial advisor. But here's the thing that is shocking to me. And that is this. If you're trusting your financial advisor to give you the best information, you have to understand that those guys and gals, they get paid pretty handsomely to recommend certain stocks or certain funds or something like that to you. And they get a little bit of a kickback. So if you think that everybody is, is unbiased and then they're for for you in your best interest, you have to do your own research and we look behind the projects me personally. Well, first of all, let's tell you this, if I'm talking about it on this channel, I'm biased too. Because guess what? I own it. But that's why I'm always giving you the best information or the best information I can give you to help you in your own research. It's your responsibility to go out there, take a look at the project, see if there's actual utility, see the actual team behind it, the tokenomics, everything else and go, you know what, I like that, I'm going to invest into that. And that I think is the easiest way to do things. So to me, it's just shocking to people like, yeah, my financial advisor's got my back, not always. So that is that part. And then I would say that my response to today is this, it's the same thing that Beverly was talking about, is that I'm just going to dollar cost average. And I learned a bit ago that there's always a dip within a dip within a dip. And on these days, I just kind of break things up. I dollar cost average in I also dollar cost average my dips. And today I bought Ethereum and Avalanche. Why did I buy Ethereum? Well, I don't think that it's not so much about like, Ethereum is going to be the greatest thing of all time all the way through. I don't know which one's going to win. I don't know what's going to be Ethereum or Avalanche or Tezos or Cardano or whatever smart contract platform. But I think there's room for all of them and what they want to do. And I think that the reason why I bought these, in all honesty, is first of all, I own everything, obviously I own them all. But the other thing was that it had dropped so much was almost 10% drop was crazy is like down to like $2,700 or something like that. And then Avalanche had also dropped 10%. I'm like, I have to buy these things because I know exactly where this this whole market's going order for will be fireworks. And if it's not if it's not like the big the end all be all in October, November, December, just then January, February, I'm pretty sure me personally, I think it's going to do pretty well. And that is it. So look, I just wanted to make this this short video just tell you about what's going on. I didn't do a video yesterday, I got caught up in some things. But what I really want to talk about today later is, of course, how Twitter is integrating with the lighting network and and Jack Mauler's product and how they're able to actually allow tipping. I'm sure people have already talked about this, but I just want to give you a different take on it. And then some other things that I'll bring over from yesterday. But for today, that is it. And if you stuck with me all the way the end, first of all, thanks, I appreciate it. If you like these types of videos, go ahead and give it a thumbs up, give it a like, also consider subscribing. We talk about these things every single day unless I miss it daily yesterday. But that is all. So thanks so much. I appreciate it. I'll see you on the next one.