Bitcoin Forum

Ethereum Prices Plot Cautious Recovery as Korean Government Cools Trading Ban Rumors.

The cryptocurrency market is eyeing a cautious recovery after financial regulators in South Korea publicly stated that they do not agree with the cryptocurrency trading ban that has been proposed by the country’s justice minister. In the meantime, though, nearly every major coin is trading below its previous-day level, and the ethereum price has snapped its streak of positive returns.

i definately agree with the above statement but it is just recover time becaus all the crypto currencies are in the all time high stages but this wasnt expected immediately, but this is the best thing for crypto community to get regulated from fraud south korean exchanges

South korea will not ban trading for sure, it is just a fud. After people realize that and weak hands sell their coins, market will rise stronger.

This is a good news. even though one is not expecting fast recovery because some investors would want to watch both the government and the market to confirm that it is safe.

Agreed that the Korea news are fuds and I am expecting market to recover soon. The market is used to such fuds.

Ethereum has been bullish since there is a fork coming up. Not surprising if it recover easily.

Ok this is what I was missing in the snapshot. I never thought ethereum spiking is all about the Korean exchanger effect and that too affected the other alts. However I did know that it’s related to FUD in first place but the Korean exchanger have taken the stuff far from the reach of common investors. I mean we have seen bitcoin trading at double rates than the international rates in the Korea and there is no way one can trust these exchangers real volume. This do look like some sort of aggressive trading and fud effect.