bitcoin prices have decreased sharply

[Bonsaiav]

whether the cause of this is happening, is it something to do with the decision of the south korea government?

I think this is clearly related to the South Korean government's decision, especially the South Korean financial authorities, they have deployed tax agents and police to conduct raids on six local banks, and  the Cryptocurrency Exchange (Coinone and Bithumb). Both are the second largest virtual currency operator in South Korea.

Read more at
https://www.bloomberg.com/news/videos/2018-01-11/bitcoin-drops-as-south-korea-constructs-trading-ban-video
Based on Bloomberg data, Omnitel, which owns bitcoin remittance business, fell 30%, Vidente shares plunged 29.96%, Digital Optics slipped 14.42%, and KPM Tech fell 4.90% in today's trading.

[1715183786]

1715183786

[michellee]

the bitcoin price increase and the decrease in every time and we have seen this before, it always happens like this. and only people which not patient that will not take any profit. so if you want to make a profit, it is better to hold your bitcoin until the price back increases although no one will know, at least you still have a chance to sell at the higher price if you wait. but if somehow you really want to sell your bitcoin, make sure that you still could make a profit although it's small profit.

[Shreek]

yes, everybody is talking about bitcoin which is decreasing sharply, and this is the effect of south korean government decision, same as happened with china, which resulted in bitcoin price down too.

[virendarnagpal]

It is true that bitcoin prices have decreased sharply in the recent past.  Several factor have been held responsible for downfall.  Christmas celebrations: as people in the world were to celebrate Christmas festival so they were busy in that and also needed money for celebrations as a result instead of buying bitcoins they were selling it and ultimate effect was seen as oversupply less demand and decrease in prices.  Other factor affecting the downfall being South Korean drama of banning bitcoin.  United States of America taxing Bitcoin is also one among major issues responsible for sharp downfall. 

But surprisingly why above factors forced decline of bitcoin prices only as prices of other coins has increased in the same period.  So there may be other reasons responsible too.  There may be reasons of higher charges on bitcoin transactions forcing people to divert their investment from bitcoin to alt currencies.

But definitely the future of the bitcoin is very bright; provided it is saved from the bad interventions of speculators.

[bribed]

whether the cause of this is happening, is it something to do with the decision of the south korea government?

Yes those news surely had an impact on the Bitcoin markets. Also the fact that coinmarketcap decided not to take some south korean exchanges into account anymore when calculating the average prices surely had its effect. But I believe that this stuff only has minor effects on the overall market. As we have already seen the recent example of chinas crackdown on ICO's, this only has temporarily effects until Bitcoin evolves stronger than ever from this "crisis".

[kier010]

many holder are living in korea so when this news spread they have to sell their bitcoin and altcoins to avoid loss and this affect the price to go down. and this dump should be belong to korean holder just like when this happen in china but later bitcoin and altcoins recover. so it will take time again for bitcoins and altcoin to recover just don't panic selling and start buying and start holding.

[bloodyvio]

whether the cause of this is happening, is it something to do with the decision of the south korea government?

Yes those news surely had an impact on the Bitcoin markets. Also the fact that coinmarketcap decided not to take some south korean exchanges into account anymore when calculating the average prices surely had its effect. But I believe that this stuff only has minor effects on the overall market. As we have already seen the recent example of chinas crackdown on ICO's, this only has temporarily effects until Bitcoin evolves stronger than ever from this "crisis".

yes i still remember when china banned ICOs
at that time, China's news to ban ICOs had a very strong impact on bitcoin prices
but after that, slowly bitcoin prices recovered and now here we are at $14k

[Sarastiche]

News about Bitcoin always has an impact on it price fluctuation, but much more is the issue  of  investors taking profit between December 2017 and  January 2018 for the festive/holiday season, as the year is just beginning, hopefully  the  price will increase  and  be stable by the end of the month

[tatnM]

Yes of course this is news, even more can be said not cautiously told the word of one politician. The market of crypto currency is still in the developing stage and quite responsive to it. But already now it is possible to say with confidence that the market is growing and the influence of news is becoming less noticeable.

[Sir Cross]

from what I've read, https://www.theguardian.com/technology/2018/jan/11/bitcoin-drops-value-south-korea-trading-ban-cryptocurrencies-tax-gambling
can make bitcoin price drop until $2000.
but, I think it's one that affects. like anyone said, there are many reasons will affect bitcoin price, and this is normal.

You can't even distinguish from "bitcoin prices fell by $2000" from "bitcoin prices can fall to $2000" Maybe you should stop reading articles in English and look for a news source in your local language. I'm sure it will do you some good

Also:

Once a bill is drafted, legislation for an outright ban of virtual coin trading within South Korea will require a majority vote of the total 297 members of the National Assembly, a process that could take months or even years.

This means that there isn't even a bill ready and even if it was it would have to get a majority vote! In other words there is no ban and there won't be any this year!

Misleading articles and news like this and other FUDs affects the price badly and negatively. So far these past few days, there have been numerous news like these that came out along with the correction that the price is experiencing. Even though that the bill in Korea is not yet even ready, or that their hasn't been any significant change yet, such news have made an impact already on the price. This has been the trend for now.

[ionicle]

What is this delusional crap in the past 24 hours? Dropping from 14k to 12k? Seriously?!

[TheUltraElite]

What is this delusional crap in the past 24 hours? Dropping from 14k to 12k? Seriously?!

Mainly FUD from different sources. ICO banning by South Korea is now old news that is not the cause of this probably. But let me guess is this something new in crypto? Its not because its a monthly dump that occurs and new people cash out on it.

This is a good time for people to get into the market. People wont be able to buy after this when the pump occurs by whales. There may be some news coming up soon why this happened but I am sure the market will recover in a few days whatever be the reason.

[pxo.011]

whether the cause of this is happening, is it something to do with the decision of the south korea government?

no its not, even other country, but the whales has , they are the waves of earning if you have a tip from a whale grab it you will earn and learn.

[Micerker]

whether the cause of this is happening, is it something to do with the decision of the south korea government?

Decisions from south korea do not affect the price of Bitcoin. Bitcoin is down because many traders and whales decide to sell their Bitcoin shares to invest in ETH. Upcoming ETH will hard fork that is why Bitcoin prices are going down.

[Ewox]

It is possible that it could be one of the reasons why the price has dropped but I would not worry too much about South Korean government because there are still other countries and citizens from all over the world supporting and are loyal to bitcoin. For sure some are holding on to their bitcoins and are keeping them for long term too.

[awawo]

whether the cause of this is happening, is it something to do with the decision of the south korea government?

The fall in the price of bitcoin is no way connected to the decision of the south Korea government, because if you know bitcoin very well you will understand how it work's by this time last year 2017 the price of bitcoin was not up to $2000 but in may June the same year it rises to $5000 to $6000 and before the end of the year 2017 bitcoin was high above $10000 to $20000. So this current happening in the price of bitcoin is part of bitcoin nature always volatile.

[Kambal2000]

whether the cause of this is happening, is it something to do with the decision of the south korea government?

Decisions from south korea do not affect the price of Bitcoin. Bitcoin is down because many traders and whales decide to sell their Bitcoin shares to invest in ETH. Upcoming ETH will hard fork that is why Bitcoin prices are going down.

Just don't be so much worry about the price decreasing, it happens and will happen even in the future that some traders will really switch to other form of investments such as what you have said, but one thing is for sure it will increase although not now but maybe tomorrow, after a month or year just hold what you have.

[arnoldpredator]

yes, everybody is talking about bitcoin which is decreasing sharply, and this is the effect of south korean government decision, same as happened with china, which resulted in bitcoin price down too.

I read yesterday that Indonesia banned any kind of cryptocurrency declaring them ilegal. Maybe that is the reason.

[btcprospecter]

Fud is always going to affect the value of bitcoin and crypto currencies. We could just be seeing a slowdown after the hype of the tail end of last year. Some expect crypto to be a quick way of making money but in reality many high price coins have been around for a while and took a couple of years to reach the value they hold today.

[captin crunch]

whether the cause of this is happening, is it something to do with the decision of the south korea government?

I think that price of bitcoin is linked to such things, as they often cause panic among bitcoin holders.