08 Jan is a black day?

[coinlocket$]

why everything on market cap is falling red today? missing some important news somewhere?

[Chris314]

There are some days like today where every crypto are going down. A mere correction, I think, nothing to worry about so far.

[fabiorem]

Rumours about China banning bitcoin mining:

https://seekingalpha.com/article/4135805-assessing-chinas-bitcoin-mining-ban

[coinlocket$]

got more info, it seems coinmaket cap on the calculation of value of coins removed the korean market cause their price was too high (even 30% more than us-eu)

for this reason the price now is lower and scared people now are selling for this  

nothing happened really

[J. Cooper]

The marketcap dropped by about a hundred billion dollars in 48 hours so it's not more than normal that things are red. But I think you could've already predicted this shorr term trend due to the insane gains some altcoin have gotten over the past couple of months.

[buwaytress]

The marketcap dropped by about a hundred billion dollars in 48 hours so it's not more than normal that things are red. But I think you could've already predicted this shorr term trend due to the insane gains some altcoin have gotten over the past couple of months.

I'll say! I haven't been following very much over the holiday period but I've gotten wind of some DAG coins running amok. I mean, raiblocks? I actually mined quite a bit last year... and threw away the wallet along with a tonne of others during spring cleaning. Thought would do myself some good to kick the faucet/grinding habit. Makes me quite frustrated to know it'd have been worth several thousand dollars today.

All that immense and sudden gain had to come down, selling off and profiteering's taken its toll on the market cap. Bitcoin losing 10% or so isn't a big surprise either. Doubt it's China news (old) or holidaying people returning (crypto traders don't holiday). Just the regular old Bitcoin rollercoaster.

[NeuroticFish]

It's a correction and it's the China mining ban rumors and the fear around it.
Some spread news that the fees will rise even more, not mentioning that Russia welcomes all the miners that want to move there (with competitive energy prices too).
All in all, the huge quantity of FUD against Bitcoin takes its toll. And the good news about the working LN are somehow hidden in all this.

[DustyRah]

Traders are now in this game more than ever before, every time they see profits, they will take it raining down red. Its no longer going to be a one way up scenario and will be more or less up and down so the traders can cut the juice from the waves.

Its going to be a hard time for HODLERS going forward.

[parobber]

why everything on market cap is falling red today? missing some important news somewhere?

Bitcoin fell and that always hurts the markets, I believe there are a few things behind the bitcoin fall, the first is less of a reason and more of an enabler and that's the fact that transactions are still too slow and too costly meaning that the market isn't as bullish as could be. Then come the two reasons I believe influenced the price to fall: 1. Rumours about China greatly reducing mining or even stopping it full stop and 2. The insecurities in the electrum wallet.

[Denker]

Traders are now in this game more than ever before, every time they see profits, they will take it raining down red. Its no longer going to be a one way up scenario and will be more or less up and down so the traders can cut the juice from the waves.

Its going to be a hard time for HODLERS going forward.

Man nothing has changed in terms of trading. Things were worse years ago with much less liquidity and easier ways to manipulate the price.
Remember 2015  when price was at a 200 something low ranging for almost 3 quarter of the year??!!
Nothing will change for hodlers. Price will move up and down, with crazy moves in both directions like we've seen since so many years.
Stop talking bs!

[btcone111]

Well, we have seen too many strong bullish up days. I think it's good to see some healthy adjustment in prices.... Let's not expect btc push to $50K in one day because that'd probably mean it's a bubble bound to burst immediately!

[peter0425]

got more info, it seems coinmaket cap on the calculation of value of coins removed the korean market cause their price was too high (even 30% more than us-eu)

for this reason the price now is lower and scared people now are selling for this  

nothing happened really

Is this so? Care to share the link mate? But I have to agree that South Korean market is always at a premium price. I remember that when bitcoin is trading at $17K, South Korean is like $5K high as compare to Western counterpart. Maybe this is also the reason what ETH has regain the second spot once more from Ripple.

There are some days like today where every crypto are going down. A mere correction, I think, nothing to worry about so far.

And if this is the case then I have to agree with you. There are times that the whole crypto is bleeding, as much as we want them to go green all the time, but few times investors will just cash out resulting most of the top coins going red.

Rumours about China banning bitcoin mining:

https://seekingalpha.com/article/4135805-assessing-chinas-bitcoin-mining-ban

The rumor has been in the news since last week if I'm not mistaken. And it doesn't surprised most of us. Since they banned ICO and closes bitcoin local trading. And then hearing PBoC says that its one of the best moved they have committed, it will be just matter of time because they shutdowns it mining facility.