Bitcoin Forum

What do you guys think?
Everything is red, good time to buy?  ;D

https://themerkle.com/coinmarketcap-excludes-south-korean-prices-total-market-cap-drops-by-50bn/

5% is not relevant at all, not to mention that coinmarketcap is just a website reporting numbers, not actual money movements happening. It's amazing how changes on a website could make idiots dump their bitcoin, because im assuming this has been part of the trigger of the current dip.

There are a bunch of idiots that don't deserve to hold bitcoin, so people selling for stupid reasons such as some shitty website making a change on how they measure money is always good news. Weak hands must be shaken.

when coinmarketcap.com excludes an exchange, what happens is that the total volume drops because the (possibly) fake volume is no longer a part of their total stats.

market capitalization on the other hand is NOT affected by this. because it is simply (price * supply) and neither of these change when they exclude an exchange from their list!

the reason why the MC dropped is because altcoins are getting dumped hard. specially big ones such as Ripple and Ethereum.

I don't know why these people make such clickbait FUD titles... This is a good change, those prices were unreal and didn't give a realistic view of the market. Sure on the next couple of days some people might panic and we'll be able to see some drops, but in the long run it's a positive thing.

Sometimes it is necessary to do the opposite and not to listen to all the others

I believe it's a good step taken by coinmarketcap website by excluding the Korean price from the pricing average while still counting the trading volume. The disparity among Korean price and rest of world price was required to take out from the equation for a realistic bitcoin price. So a good step taken for longer term.

Exchanges like bithumb or coinone was experts of inflated price and fake volumes. Taking them out of the equation will help traders to speculate more accurately.