Bitcoin Forum

What the hell happened today in cryptocurrency, why is everything going down the drain? :o

I heard there was a problem with an exchange in Korea.
This has led to a panic in South Korea and a flood of tokens.

Before major events there was always a drawdown.Local decline and, perhaps, a quick turnaround.On the eve of the Consensus.

I will suggest you to keep calm because before a major event there always a drawdown happens no need to do panic. Keep your eyes on the market the price will rise soon. And I have heard that there was a problem with an exchange in Korea. I hope this will be solved as soon as possible.

I think what we experience now is a healthy correction and normal. Probably the whales took advantage of the negative news such as the Korean exchange being investigated, however, I see this as an opportunity as usually after Consensus the market experience some growth.

I believe it's nothing but a small dip caused by the convinced fud of the upbit exchange and maybe the future expiring in this month. Nothing  to be scared off in the long term

I see the price started recovering back guys. There is no need to make the panic sell unwantedly. Please do concentrate on holding the crypto currencies mate. I see everyone go to sell the bitcoin and alts they have since they want to avoid the more loose on cryptos.
This 3rd time Korean news affecting the crypto currency market. Hope they comes with the better proposal on exchanges without bug on them.

You seem to be new in crypto whilst this is common in crypto world sometimes up and sometimes down.I have been observing same environment in crypto for last three years but still i am doing trading i know this is temporary.Still i am holding my coins despite i am already in profit from coins,waiting for pump up period when prices would go higher then my expectations then i would sell.Dont be panic dude fluctuations common in crypto,always be optimistic and maintain your confidence.

Yes, I think it is related to this event. I think after it will follow the rapid growth of the market. it is necessary to prepare for this.

If all have same understanding about the cryptos like you are doing there would not be any trouble on both the trading and holding the coins. When you want to invest your money any coins first we should check the regulations issue, price history, highest value so far and many times.
Then we should have the mentality like avoiding the panic selling like above some said. If you have all together we all in the forum enough to keep the marketplace with the good value but mostly no one do that.

This is a special correction created before the conference in Los Angeles,so do not panic, everything will be agony, everything will fly into space later,and I think even 1 trillion dollars capitalization of cryptocurrency will break,so we wait after may 15, rapid growth,and hope that it will be longer)

Some negative news on crypto has panicked the investors which resulted in such fall. But there is nothing to worry the cryptos will bounce back soon the way it bounced back during previous deep fall.

In general, they promised correction in late May. It is likely that this is it. In any case, I do not need to succumb to panic, I think

Right. It's due to this.
S. Korea’s Largest Crypto Exchange Upbit Investigated By Police, Markets React (https://cointelegraph.com/news/s-koreas-largest-crypto-exchange-upbit-investigated-by-police-markets-react)
I haven't heard anything related to this You should relax if the crypto market isn't doing well.

Regardless of what caused this local fall, I see no reason to worry. If you will pay attention to every such fall, you will exhaust your nerves. Look at it one eye in half a turn and relax :).

Apart from the Korean investigation, executives in charge of refunding users of former Japanese exchange Mt.Gox have evidently sold a new chunk of about 8,000 BTC, which is quite a substantial amount to drive the crypto down.

Now the market of crypto currency is strengthening and growing with minimal corrections and if you are shocked with these movements then I can remind you that it was in early 2018  :D

Don't worry. Now there is a correction. Just be patient, cryptocurrencies can not only grow. If you keep the coins in the long run then come back here in 2 - 3 months and see how the market has grown.

This is information gotten today.
SOUTH Korea’s biggest cryptocurrency exchange Upbit, is under police investigation on suspicion of fraud. The Financial Supervisory Commission (FSC) reportedly sent investigators to Upbit’s Seoul offices and seized the company’s computer system to conduct an audit on the exchange’s virtual currency holdings. “UpBit is currently under investigation by prosecutors and is cooperating,” the exchange said in a notice to clients, with reassurances that services such as withdrawals and financial transactions were unaffected. Crypto commentators on social media suggest that many of the top 100 coins have dropped in the markets. Bitcoin was trading at an average of $8,750 (£6,449), falling around 7 per cent on the day. Ethereum had dropped almost 10 per cent, trading at an average of $690 (£506).
In March, the FSC and the Korean Financial Intelligence Unit (FoFIU) announced a joint investigation into crypto exchanges’ corporate accounts in Korean banks, over fears of anti-money laundering (AML) compliance concerns. The exchange hosted about $1.6 billion (£1.17bn) of cryptocurrency trades in the past 24 hours, making it the biggest in Korea. In April, CoinNest’s co-founder and chief executive Kim Ik-hwan was held on charges of embezzlement and fraud. He had allegedly moved “billions of won” in customers’ digital assets into their personal accounts. The rapid rise in the cryptocurrency market has concerned officials including Prime Minister Lee Nak-yon, who feared that the nation’s youth might be corrupted. Governments have been investigating allegations of excessive speculation and illegal activities such as money laundering. Trading prices have since fallen since authorities imposed restrictions.

https://www.express.co.uk/finance/city/958469/South-Korea-crypto-exchange-Upbit-raided-police/amp?__twitter_impression=true

after 2nd week of april prices were rising and recovered marketcap , so now it was due for correction and little bit affect of Upbit and Mt Gox btc sell FUD .
so just be calm and wait for end of year to earn good profit on your investment .

The current stagnation of the market is caused in my opinion by purely speculative reasons.  Look at how Facebook played. First they forbid advertising ICO on their platform and a couple of months declare the beginning of work on their project on the block. I think that other digital whales will soon join them.

They write that again Mt. Gox from Tokyo sold 8,200 bitcoins on the market. Because of this, the bitcoin rate began to drop. However, the bad information is that he has another 200,000 bitcoins, which he is going to sell. If he also continues to throw out the same lots of bitcoins on the market, then for several more years he can restrain his course, and with it, all the crypto-currencies.
It seems that the plans to increase the price of bitcoin, and indeed the entire crypto-currency market, will have to be forgotten.

I don't know what really happened. But for this a lot of investors had to suffer a lot. I think they are going to overcome it very soon.

I think there was some techical problem there. Thats why it fall down.Its usually a natural thing that they will fall down and raise up.Lets just not be panic and hope for the best.

i am also looking for this answer, what happened out of nowhere. some are saying about exchange in Korea.,  ::) which was a problem. some say bull run is coming again, so it's previous pose.

Well, I think that news is made on purpose. These coins can sell, and we won't even know it. So this is just speculative news to knock the course.

Well cryptocurrency experienced alot of external mishape. Many people are spreading fuds and fake news. Also by these fake news many people began to dump their coins resulting to decline in price. Lately most of the people only choose to hold and not to buy more this is not helping crypto gets back to its foot. We all need to buy and buy in order to increase the demand and price of crypto

Ups and downs are the part of trading, we should focus on long term investments in good projects, for day trading one has to be very proactive and at the same time stay focused about everyday events and also has to be vigilant about charts, so that is not for everyone.

Things always happen. Almost all altcoins are affected after bitcoin is affected first
Hope will recover as soon as possible.

The market just behaves very unexpectedly, many were waiting for growth, and everything goes the opposite

Last year's growth was huge. Correspondingly, the market correction can be very deep. It remains only to have patience.

The market is red again, no matter what happens but we must stay calm in the face of a situation that I think is normal. Some people say that it happened because of exchange problems in Korea. Fluctuations become difficult to determine, we just need to be patient and wait for the market to recover.

There is nothing to worry about, it will recover soon. Just look at the brighter side.lower price allows you to even more coins you want. Since price is getting more available, more people will engage and invest on it meaning there will be greater number of people in the market. It adds on the fact that it getting more popular and reaching many more people making the demand become higher.

The former head of Visa in the UK and Ireland has joined a startup bringing crypto to consumer payments, Business Insider NL reports today, May 19.

Marc O’Brien, who worked for Visa between 2008 and 2014, has recently joined crypto consumer payment startup Crypterium, which aims to make it possible to spend crypto in everyday situations, Business Insider reports. Speaking on the importance of crypto adoption as a medium of exchange, O’Brien told Business Insider:

“The idea is that cryptocurrency is actually quite difficult today to use as an everyday method of payment. If you were to go to an exchange with your Bitcoin or your Ether it would probably take you 3 to 7 days to get that money paid out into a normal bank account. What Crypterium will do is make that whole process seamless and give an opportunity for a consumer to actually use their cryptocurrency to pay for everyday items.”

Crypterium was incorporated in Estonia in 2017, reportedly raising $52 mln through an initial coin offering (ICO) at the end of last year. The company is focused on developing technology to launch crypto-supporting payment cards, and hopes to partner with either Mastercard or Visa to launch its first products this fall, according to Business Insider.

When asked how such a mechanism would cope with the notoriously volatile market valuations of cryptocurrencies, O’Brien declined to reveal the company’s so-called “secret sauce,” saying there is “careful” protection surrounding the intellectual property of the system.

This spring, Visa’s chief financial officer Vasant Prabhu criticized crypto for enabling criminal activities, saying that “every crook and every dirty politician in the world, I bet, is in cryptocurrency,” given that “it’s very hard to get dirty money through a banking system.” In February, Visa drew widespread criticism from the crypto space for charging its customers multiple times for transactions on leading US crypto exchange and wallet provider Coinbase.

Manipulators twist the market as want. On the one hand have already shaken out weak hands and are ready to go to conquer new peaks. On the other hand, all wait for those "twenty thousand" on which were bought. And when all wait for growth this growth and doesn't occur. The market works against the majority.

The fall in the crypto market rate was usual at that time when the exchange rate of the cryptos reached the target price, and investors decided to place a sell order to make a profit. So you do not need to worry too much about that drop that should calmly hold because certainly, the market rate will increase again. And now the exchange rate has rebounded after a series of slight declines.

Relax it's normal to the market to experience that kind down but it will not forever just keep believing in crypto and you will sell in the next few months the changes of the market.

Agree I think so too. A very good time to buy assets, they can for you in 1-2 days can 10-15 percent profit

It seems to me the more capitalization the longer cycles will be. Now good growth can be not fast and not so soon as waited for it in the spring. This summer or fall will be possible, forecasts can be given different, only they are briblezitelna, nobody can definitely tell when growth begins.

You are new in crypto that`s why it appears new to you but this is common in crypto world.Market is in bearish state for last five months and fluctuations are continuous in market that`s why in one day sometime its up and sometimes its down.BTC price is going down as Mr. Gotex reportedly sold some huge quantity and since then BTC is going up and down.In Sep-18 Mr.Gotex would sale another huge quantity of BTC to write off his debt value,after this the value of BTC is supposed to go up and up.

This is a common thing in this kind of trade, but with good issues it will come back with the best price, not to panic
everything will go by and get the best of it later

The moment you create a post, the market is in the recovery phase of the exchange rate and the reduction of prices is entirely understandable, it is possible that the moment the market faced negative news or have members On the forum post, FUD sentiment for investors made them sell cryptos to avoid losses. But now the exchange rate has risen and ready for a rate boom at the end of the year!

I think it is a small correction to move forward. And ups and downs are very common. Based on rumors also market will effect.

I also feel very baffling. I have read a lot of news. I haven't found a clear indication of why it caused such a fall. I am also looking for the reason!

Yes, the reality of the market is really bad, but ups and downs in crypto world is just normal and everyone is hoping for it's  fast recovery. we really need to pray not just watching on the market price.

It was a healthy correction to give us the push to break through 500 billion market cap,  which would give us a good bull run

I still do not understand what is going on. I have just been watching amazed and watching the prices falling down so fast like someone is chasing it. It is surprising how fast it happens. I know people will always say that you have been in the market for  while so you should be used to it but it is still surprising anytime it happens

There are many different rumors, but I think that the big players decided to buy btc
So they lower the price.

Nothing is wasted. The market continues to decline. It's up to you. If you are afraid your assets will continue to decline and fear will continue to lose then please sell your assets. I'm not afraid and I'm not worried either. I will be a little patient to wait for changes from the market because if there is a decrease there will be an increase. If the market has reached the lowest point then the market will surely increase again and continue to rise up to the highest point. That's when I will enjoy the results. The result of my patience.

We all know that the crypto market is very sensible about every news that comes around. We have some bad news the last couple of days and the market react. Nothing new.

And it is still happening, it is hard to stomach because there is no bad news that is causing it. No major hack on binance, and mt gox isn't flooding the market with bitcoins, so who knows. Just hope it doesn't go on for much longer, otherwise the market will die

Nothing special happens, it's just a nature of all crypto market - volatility. It was expected that after 2 month of stable growth we would see such correction. No one can say for sure the reasons, thay are usually announced afterwards, but for it's quite a common situation and I don't see any reason for FUD, especially when we survived during February's fall.

For your information. GOX trustee has already flooded the market. Besides, the price of bitcoin was pumping little by little until the news about the GOX trustee did flood the market with thousand of bitcoin and the price down to the exact amount the GOX trustee mention and you're saying there's nothing behind the dump in price of bitcoin.

The fact is that this man threw to the market not all his bitcoins, which he was going to sell. Thus, the market will continue to fall and we will not soon see the real possibilities of Bitcoin and other crypto currencies.

Yeah. He might not throw all his Bitcoin because no one know the total amount of bitcoin he's holding but the current plan they do is cause some dump in price of bitcoin which they achieved.

Yeah, I think it will be. There will be no such rapid growth as last year. Although it may highs and be able to upgrade. But then we'll fall even lower. My opinion

I think in the electronic money market, market fluctuations are frequent and unexpectedly no one can confirm. Before you decide to invest you have to study and choose very carefully. In my opinion, do not worry, just wait. The market is stable and rising in the coming time. The electronic money market will grow and its value will increase. Keep track of and analyze the market regularly.

It seems to me that something has happened again in the Asian market, I call it problematic, but it is very developed and strongly influences the crypt as a whole.

Honestly, I did not understand why the dump started so abruptly, I think that there must be a reall reason for this, because again all the coins are red.

It is only natural that what is happening today is what we need to do is wait for price increases. I'm sure that the prices of altcoins are coming back and the price is higher. So this is a great opportunity to buy bitcoins and altcoins because our profit is definitely big.

Things like this can happen everyday without a particular reason or as a part of a bigger scheme. The cryptomarket is still new and unpredictable, and most importantly easy to manipulate. A statement from a famous investor or "expert" can lead to drastic change in prices. We, the common people, are just observers in this game and the best we can do is invest smart and hope for the best.

Look at the market now. Its not even in the drain but has reached the gutter itself. Lolz.

I think we are badly hitting the bearish trend and this will continue for very long time just the way it happened with the period of January to May! I think that trend is coming back online and I think we shouldn't be worried about it much as mostly market recovers itself at right time.

These are just results of FUD, fake news, FOMO and stuff like that. Thats all buddy!

Yes, I fully agree with you.The decline is always due to the rapid growth.We will wait and not panic.Everything will stabilize and there will be growth.We will wait for the results of consensus.

The whole market is still in a downward trend, which is a terrible thing.
When the market loses its earning power, people sell tokens.

It seems that there was no bad news. Many people consider the state intervention of influential countries. To some extent, the media is to blame for bitcoins' volatility. It is thanks to them that information spreads. The behavior of investors has a serious impact on the value of the virtual asset. So, when a popular person publicly shares his positive mood with respect to the market, this leads to growth. And, conversely, when they say that the crypto currency is a "rat poison", the situation can cause the asset to fall sharply.

I think this is not the month of crypto because as i know crypto/altcoins price was depending only in some situations that currently happen,and also the investor or some news that involving crypto ,and im pretty sure that it really affecting the price of many tokens.

Everything is not going down the drain. This and many more seasons are some of the event and situation that happen in cryptocurrency. It is a cyclical and another season of profit will come and bear  will be forgotten.

I think you are currently holding some coins, so you are very panicked when you know the price is falling like this, like me. But for someone who is a lot of money might think that now is the right time to spend as much coin as possible. I'm also so if I have money I will buy a lot of coins and I will sell for the next few months.

It is part of the process to be accepted internationally it will pump and dump in its quest for greatness so just stick with it and will make good money.

I inclination indicate you to care soothe as at  first a above calamity thither always a drawdown bechances no need to do panic.

bitcoin is unpredictable and that is the real life in crypto we just wait until it pump again.
I think there is a big reason for why cryptocurrency now is getting down.

we do not know that maybe next month bitcoin value will be raised again.

While it is not clear whether the Crypto currency will gradually restore its position, or fall further. Of course, most market participants hope for the best.

Wait and be patient,let's just say this drama of good people and evil that each has its own purpose to live we would want to go with the flow which,up and down the price I think is very reasonable especially now,btc is getting a lot of interest surely make many investors to have it,consider this the drama of their lives we wait for the ending

Remember, as longer correction is going on, as stronger positions coin is getting, gathering volume and as a result we will see rapid growth. I think it will happen in the autumn time.

The price market status of cryptocurrency now moving normally, that depends on the balancing system of supply and demand, and it was likely the management of cryptocurrency decide to adjust the level of market price value in order to become smoother and good flowing system on the total operations of cryptocurrency business.

Cryptocurrencies were always unpredictable but at current time the situation is characterized by intense frequent fluctuations of price. For users this is inconvenient way of price tendencies but for market such situation is very useful.

The way I see what's happening is for the crypto currency prices in general to test a major support and could reach another bottom. This is a good buying opportunity if you want to gain profit for long term. The market movement is currently in a consolidation phase and smart money are buying discreetly. Gox is only what's causing the pullback of prices due to their holdings that they dump every week.

The worst thing is that the rates of almost all coins continue to fall, I think that we again in a long dump and no one knows when it will end.

As per current update, btc and some of the alts are now starting to recover and I would suggest that you need to hold still and just wait until it had made a good price full recovery. You don't need to be in a panic mode where you will sell your coins at a lower value instead patiently wait for it will be back on track.

Market volatility is common in the encrypted world, and there's nothing to worry about. Passwords can quickly bounce back to the way they bounced back from their previous plunge.

yeah prepare for future is better than you lamenting the price
now you just saving and hold so keep calm

maybe soon will be increase high price again

I try myself to understand what is happening in the crypt, but honestly I can not find the answers to this. There are so many likely causes ...

What is happening in the market today is local incidents. They will not affect those who hold coins in the long run. Think.

I think what we experience now is a healthy correction and normal. Probably the whales took advantage of the negative news such as the Korean exchange being investigated, however, I see this as an opportunity as usually after Consensus the market experience some growth.

It is because bitcoins price os going through a breakout right now and it is struggling between 7600 and 7400 usd. It affects altcoins price exchange, since it is dependent to bitcoin. It s said that they are maintaining a low profile on digital cryptocurrency especially on asian countries now. I think theres nothing to worry about.

This happens for like minded people like you. Why the hell you give so much importance to today's market? Aim for the future, promise not to be panic. Don't sell on the red market. Wait.. Wait.. and wait... Good days come to them who waits.

I think what we experience now is a healthy correction and normal. Probably the whales took advantage of the negative news such as the Korean exchange being investigated, however, I see this as an opportunity as usually after Consensus the market experience some growth.

What is happening today is a normal correction as the price will not always go on the green light. This is a test how strong the investors we have before moving to the next level. Somehow in a few days this will again returns to a better price and considering that bitcoin is the barometer of all altcoins, the crytomarket will go on green also. If you understand the market condition, you will not get panic in every movement it has and be patient to wait for the best price to come. Indeed those holders will get their rewards once the price rise to the moon.

This is the best strategy, always be prepared for the unexpected. It is impossible to foresee everything, but it is possible to minimize risks. Now there is a correction, the market will fall again, then there will be a good growth

I do not know how the Korean stock exchange is connected with the current situation on the crypto-currency market, but it seems that the large number of Bitcoin that the unknown holder Mr. Gox threw out had a very strong impact on the market. This has already sounded a lot of information and I'm inclined to trust it.

As it will be in fact, we will not know exactly how and who manipulates the market, it is not necessary to focus on this. We need to adapt to changes in the market.

Actually, I don't have any clue about that. I agree that the market seems difficult to back on the track.
But the good news is, there are many exchanges right now. So, people have a lot option to trade their assets.

This is not new in cryptocurrency. There's nothing we can do, just take this a chance to buy more since the prices became cheaper. There's no point on panicking, since panicking might sometime lead you to  a wrong decision, it is better just to stay calm and do not be stressed to much.

This is true. Many are just afraid to lose their money and panic, as they invest something that in fact they do not have. Take loans, sell cars, houses and invest in cryptocurrency. Then worry strongly.

what happen is that market is down because weak hands keep selling off when ever there is a small drop in price, and when much people are selling off, the price will keep going down.

Yes, the reality of the market is really bad, but ups and downs in crypto world is just normal and everyone is hoping for it's  fast recovery. we really need to pray not just watching on the market price.

Yes the weaker investors are getting shaken out of the market. This could be a good thing because it could be making the market healthier by pruning out the weak ones.

At some point the market will stabilize and we will see steady growth but only after there is more confidence from investors and more mainstream adoption.

Of course this situation will be frustrating for those who buy at the peak of the price. But of course this kind of correction will continue to occur, and this is a normal situation, if we calculate from what got crypto a year back. And if you are willing to look at it from another angle, then this could be a great opportunity to buy altcoin at a very cheap price.

It seems that this will not be in vain, except for those who are desperate and come out with regret. But the market fluctuates as it should, and for those who can keep the patience a little longer, I think by the end of the year, they'll get the prize.

That's always bound to happen when it comes to cryptocurrency innovation. Prices are meant to fall, and they'll also rise again. It's a normal thing. One should just try take an advantage of each coin that goes very low, cause it will definitely rise again. We need not to panic when these things happen.

It seems we are paying our own greed. We bought everything available last year, even just because we saw coins growing rapidly.
But for some people, this is not a really bad situation, because of course we can still do great business right now.

In my opinion, the current cryptocurrency is experiencing the event that is supposed to happen. This situation is even predicted from last year. Growth is too fast, and coins are created every day. I think we need to experience a situation like this, to realize that the market will not forever grow without interruption.

In my opinion, this is not a drama. Because the bigger a tree, the greater the wind will be to hit it.
Indeed such a situation will surely take its toll, but the sooner all pessimism gets out of here, the sooner the market will recover.

This is nothing special as this market is slowly stabilizing and ups and downs happens here regularly. Whenever market reach its resistance level then a sharp downfall expected at that end and if market reach its support level then a big spike expected every time.

Fluctuations are very common and had been frequent this year. We need BTC to cross $15k mark asap for these Fluctuations to reduce.

Be patient boy. The market will not be better when you are so panic and impatient. Just wait for the good moment of the rising price and you will gain the profits. make a good strategy to minimize the risks of losing your money. It includes saving your deposit not all for crypto. The market of crypto is still changing. There is normal for rising and dropping the price in this time.

I also do not know what really happened in crypto but I think all this can not be predicted what happens at this time because the market is not as stable for people who can not stand this situation will be sorry at the end of the story and who still survive will be the winner later

Maybe because of fud that was continuously spreading for a couple of months now. But surely, the market will shoot up soon. I believe before the year ends the market will recover.

It is part of the process to be accepted internationally it will pump and dump in its quest for greatness so just stick with it and will make good money.

just keep calm a major event incoming so relax and prepare for the event. just wait fot it mate.

Although this post of 11.05 but today again happened the same thing as on that day. Again South Korean exchanges have some kind of problems and the market begins to drop sharply because of this news; although this news isn't very negative which shows market's weakness and instability.

We all know that the crypto market is very sensible about every news that comes around. We have some bad news the last couple of days and the market react. Nothing new.

This is due to the fact that the General mood of the market is to go down, but I think that everything will change in a couple of days. Think soon we shall go down

At least if there will be a support to pump back the crypto and it may prevent another bearish trend in the future. But you can see that when crypto has been getting a little bump and then big bearish will be pushing the crypto again for more than the total gain at the bullish trend. We shall go up.

Yeah. The bullish trend will end sometime to come. The unfortunate things happening this year is that we get more bad news each time a pump is about to happen. We hope it ends soon.

Right now we are facing the bearish trend in the market, it is difficult to earned good moneys. Due to the volatile in market it seems to hodl at this moment for a long time in order to avoid loss.

Many people think that this was due to the hacking of a large exchange with which user tokens were stolen. But I think that this was done intentionally to lower the price for all the crypto currency and allow large investors to buy very cheaply.

I am also confused as to why everything can be like this, there are so many coins that the price keeps going down even almost all the coins experience it
new coins are the same, there are still many new coins whose prices are still below the ico price, what I fear here is that investor interest in crypto will decrease and the impact is that there will be many projects that fail because of lack of funds
hopefully this does not continue

I guess it is connected to this upshot. I guess aft it testament proceed with push from the lasting development of the market-place. it is essential to prepare for this.