Reason behind sudden market crash..

[anushkasachith888]

CMC just tumbled the whole market with one move by excluding Korean exchanges from price calculations (self.CryptoCurrency)

submitted 8 hours ago * by dzigizordRedditor for 3 months.

Few hours ago Coin Market Cap removed Korean exchanges from their coin price calculations and being that all coins are about 30% pricier over there, it instantly tanked the price on CMC graphs. From what I see this is happening now :

CMC removed Korean exchanges
Prices/graphs instantly tanked (but in practice not relevant to people outside Korea who dont trade there anyhow)
Large number of people did not recognize what actually happened and that there were not moves/selling on their western exchanges
Those same people are now dumping large amount of coins trying to "cut loses" because of the false impression that coin is crashing.
Random stuff happening
My opinion is that this should have been handled much better by CMC. At least put a banner saying "WE HAVE EXCLUDED KOREAN EXCHANGES BECAUSE OF THIS OR THAT AND IT WILL HAVE SUCH INFLUENCE ON CALCULATIONS". I just hope they do not put back and remove those exchanges at random point in time. Any thoughts?

Courtesy : reddit.com

[silverstar43]

New Year Special! Altcoins 15% off.

Was busy buying the dip, but yea that was a "D" move on their part.
Be nicer if those guys try not to cause a panic, we currently playing with weak hands.

[anushkasachith888]

New Year Special! Altcoins 15% off.

Was busy buying the dip, but yea that was a "D" move on their part.
Be nicer if those guys try not to cause a panic, we currently playing with weak hands.

Yeah It was a golden opportunity for people who missed boats while it slowing at this moment they can  jumped in to the relevant boats.

[TheGodFather]

CMC just tumbled the whole market with one move by excluding Korean exchanges from price calculations (self.CryptoCurrency)

submitted 8 hours ago * by dzigizordRedditor for 3 months.

Few hours ago Coin Market Cap removed Korean exchanges from their coin price calculations and being that all coins are about 30% pricier over there, it instantly tanked the price on CMC graphs. From what I see this is happening now :

CMC removed Korean exchanges
Prices/graphs instantly tanked (but in practice not relevant to people outside Korea who dont trade there anyhow)
Large number of people did not recognize what actually happened and that there were not moves/selling on their western exchanges
Those same people are now dumping large amount of coins trying to "cut loses" because of the false impression that coin is crashing.
Random stuff happening
My opinion is that this should have been handled much better by CMC. At least put a banner saying "WE HAVE EXCLUDED KOREAN EXCHANGES BECAUSE OF THIS OR THAT AND IT WILL HAVE SUCH INFLUENCE ON CALCULATIONS". I just hope they do not put back and remove those exchanges at random point in time. Any thoughts?

Courtesy : reddit.com

A lot of factors is assessed whenever a matket crashed or the price dropped. It is an imperstive that we show or understand the reasons why. That way we do not over react and do not wallow in panic selling which does not hely us or cruptocurrency.

[mk4]

It just shows how fragile the crypto markets are. One single site alters it's price algorithm by excluding a price source then the markets already went on full panic mode, effectively slightly dipping the total market cap. There sure is lots of dumb money in the market.

[pooya87]

that is what happens when you over-pump a bunch of shitcoins and a lot of newbies start running to pour their money (that they took out of bitcoin) into those shitcoins. they get pumped big and then they will tank big also.
you can not avoid the dumping that comes after these types of pumps. the Korean exchange thing is just an excuse that initiated it. it is more like the last straw that broke the camel's back.

[ardyology]

January is usually the month for the dips! And I love it during this month for it gives me a lot of opportunity to put something in my bag and HODL tight. I don't care if it's bearish because I always love it when its low. My only mindset is to hoard those coins and see what is it going to give me after few months. Hopefully, they wouldn't pop at all!

[emmmmm]

CMC just tumbled the whole market with one move by excluding Korean exchanges from price calculations (self.CryptoCurrency)

submitted 8 hours ago * by dzigizordRedditor for 3 months.

Few hours ago Coin Market Cap removed Korean exchanges from their coin price calculations and being that all coins are about 30% pricier over there, it instantly tanked the price on CMC graphs. From what I see this is happening now :

CMC removed Korean exchanges
Prices/graphs instantly tanked (but in practice not relevant to people outside Korea who dont trade there anyhow)
Large number of people did not recognize what actually happened and that there were not moves/selling on their western exchanges
Those same people are now dumping large amount of coins trying to "cut loses" because of the false impression that coin is crashing.
Random stuff happening
My opinion is that this should have been handled much better by CMC. At least put a banner saying "WE HAVE EXCLUDED KOREAN EXCHANGES BECAUSE OF THIS OR THAT AND IT WILL HAVE SUCH INFLUENCE ON CALCULATIONS". I just hope they do not put back and remove those exchanges at random point in time. Any thoughts?

Courtesy : reddit.com

Do you mean that this is all related to the Korean deal? But South Korea has nothing to do with it.

[anushkasachith888]

It just shows how fragile the crypto markets are. One single site alters it's price algorithm by excluding a price source then the markets already went on full panic mode, effectively slightly dipping the total market cap. There sure is lots of dumb money in the market.

This is why it is said that Crypto market is highly volatile, one news enough to change the game.  Yeah it seems many non vigilant,uneducated traders in the market. they are too sensitive for one single news. matured traders can use it their own benefits buying coins at the dip.

[btcgreen63]

It's unethical for CMC to make a move like that with no pre-announcement. They can easily be purposefully manipulating the market and taking advantage of it (knowing full well ahead of time what their move was going to do to the price short term).

[anushkasachith888]

CMC just tumbled the whole market with one move by excluding Korean exchanges from price calculations (self.CryptoCurrency)

submitted 8 hours ago * by dzigizordRedditor for 3 months.

Few hours ago Coin Market Cap removed Korean exchanges from their coin price calculations and being that all coins are about 30% pricier over there, it instantly tanked the price on CMC graphs. From what I see this is happening now :

CMC removed Korean exchanges
Prices/graphs instantly tanked (but in practice not relevant to people outside Korea who dont trade there anyhow)
Large number of people did not recognize what actually happened and that there were not moves/selling on their western exchanges
Those same people are now dumping large amount of coins trying to "cut loses" because of the false impression that coin is crashing.
Random stuff happening
My opinion is that this should have been handled much better by CMC. At least put a banner saying "WE HAVE EXCLUDED KOREAN EXCHANGES BECAUSE OF THIS OR THAT AND IT WILL HAVE SUCH INFLUENCE ON CALCULATIONS". I just hope they do not put back and remove those exchanges at random point in time. Any thoughts?

Courtesy : reddit.com

A lot of factors is assessed whenever a matket crashed or the price dropped. It is an imperstive that we show or understand the reasons why. That way we do not over react and do not wallow in panic selling which does not hely us or cruptocurrency.

If I add you my personal experience many people waiting for XVG wraith protocol to be released on 31st of Dec, before the new year, But as they promised they couldn't release it, then many people blamed them saying that XVG is a scam. and suddenly price dropped in a high rate. many people left the project. every one was upset, not faith in XVG. Then I also felt like I was scammed, and should sell XVG soon. no hopes. but again I thought I must listen to XVG too. they apologized about the mistake but somehow release the protocol perfectly taking enough time. Then I started to believe in them. I didn't listen to other sellers. Finally they release wraith protocol, now I know XVG will rise soon. my point is , at that time I fought against that situation. Every one was upset , panic. angry. it affects me too. but I managed the emotions, I think finally I won. 

[kevoh]

CMC just tumbled the whole market with one move by excluding Korean exchanges from price calculations (self.CryptoCurrency)

submitted 8 hours ago * by dzigizordRedditor for 3 months.

Few hours ago Coin Market Cap removed Korean exchanges from their coin price calculations and being that all coins are about 30% pricier over there, it instantly tanked the price on CMC graphs...

Courtesy : reddit.com

If the move by coinmarketcap was truly was caused the recent dip of crypto market price, then I agree with those saying that there are many immature traders who sell off easily. But then again, it's a big win for smart traders as they tend to buy the dip instead.

[anushkasachith888]

that is what happens when you over-pump a bunch of shitcoins and a lot of newbies start running to pour their money (that they took out of bitcoin) into those shitcoins. they get pumped big and then they will tank big also.
you can not avoid the dumping that comes after these types of pumps. the Korean exchange thing is just an excuse that initiated it. it is more like the last straw that broke the camel's back.

Some good points. so you think increase of latest market cap will reduce back up to previous level?

[anushkasachith888]

January is usually the month for the dips! And I love it during this month for it gives me a lot of opportunity to put something in my bag and HODL tight. I don't care if it's bearish because I always love it when its low. My only mindset is to hoard those coins and see what is it going to give me after few months. Hopefully, they wouldn't pop at all!

[[January is usually the month for the dips!]]

Is there any reason for January for the dips usually?

[batang_bitcoin]

that is what happens when you over-pump a bunch of shitcoins and a lot of newbies start running to pour their money (that they took out of bitcoin) into those shitcoins. they get pumped big and then they will tank big also.
you can not avoid the dumping that comes after these types of pumps. the Korean exchange thing is just an excuse that initiated it. it is more like the last straw that broke the camel's back.

You got it right mate, I've seen all over the social media that there are too many newbies that are encouraged with what they are buying and even they are already stumbling, they keep on saying "HODL, it will moon soon". LOL I know what it feels to be in that situation but I will not ride their pump and dump sequence. I don't buy on CMC's reasoning that it's just because of it.

[Albe96XDAa]

The very recent one is not even near to being called a market crash. Got a feeling there will be a big real crash this year by mid year.

[anushkasachith888]

The very recent one is not even near to being called a market crash. Got a feeling there will be a big real crash this year by mid year.

Even last year Market crashed during june/july right? Is it usually happen every year?

[henglibr]

The very recent one is not even near to being called a market crash. Got a feeling there will be a big real crash this year by mid year.

We had a crash from 19k to 10-11k recently, I think that it was not a small crash at all...

[barabut]

Bitcoin drops below $15,000 as regulation, demand concerns linger.
Bitcoin slumped, dragging down smaller rivals such as ether and litecoin, as concerns that regulators will tighten their grip on the market weigh on the world's largest cryptocurrency. Regulators in China and South Korea are increasing oversight on cryptocurrency trading and mining, while the US Securities and Exchange Commission late last year started cracking down on some digital token sales, known as ICOs.

[anushkasachith888]

Bitcoin drops below $15,000 as regulation, demand concerns linger.
Bitcoin slumped, dragging down smaller rivals such as ether and litecoin, as concerns that regulators will tighten their grip on the market weigh on the world's largest cryptocurrency. Regulators in China and South Korea are increasing oversight on cryptocurrency trading and mining, while the US Securities and Exchange Commission late last year started cracking down on some digital token sales, known as ICOs.

When you consider these approaches on Crypto and BTC from governments, how do you see the future of Crypto and BTC, i feel insecure sometimes. will it affect badly ?