BITCOIN rate plummets Discussion!!

[tayyabdar]

As you all aware of Bitcoin and other alt currencies are plummet due to ban of Crypto currency Exchanges in South Korea and the government was preparing a law to close all the nation’s exchanges this is because of speculations about illegal acts could be perform through Crypto currency.

So, my point is if anyone can give me opinion on this matter as it seems that in future more countries will follow this perception and it will badly effect the crypto market.

[1713304603]

1713304603

[pawel7777]

>>>>https://bitcointalk.org/index.php?board=57.0

There is no South Korea ban as of yet. They'll just reviewing their policy. It's more about China, who are banning bitcoin for the 20th time in the last few years.

[AGD]

This happens when whales are shorting ...
Stay strong guys!

[tayyabdar]

But this current dip this due to South Korean government.... because Bitcoin never effect this due to China's ban.

https://www.express.co.uk/finance/city/905223/Ethereum-bitcoin-price-value-latest-South-Korea-cryptocurrency-shutdown-speculation

[pawel7777]

But this current dip this due to South Korean government.... because Bitcoin never effect this due to China's ban.

https://www.express.co.uk/finance/city/905223/Ethereum-bitcoin-price-value-latest-South-Korea-cryptocurrency-shutdown-speculation

Yup, I've read a bit more and you're probably right.

[penig]

... It's more about China, who are banning bitcoin for the 20th time in the last few years.

  Quoted for truth.

[bitcoinisbest]

But this current dip this due to South Korean government.... because Bitcoin never effect this due to China's ban.

https://www.express.co.uk/finance/city/905223/Ethereum-bitcoin-price-value-latest-South-Korea-cryptocurrency-shutdown-speculation

Yup, I've read a bit more and you're probably right.

This has effected a lot and again in less than an hour already 1500$ or more has being lost in per btc. this is going from bad to worse as already last week prices fall due to Korean news and again today with confirmation it is falling more and might even fall below 10k by today or tomorrow. Will it rise by Feb or will it take long time to start rising?

[Flangler]

But how can they stop them from buying crypto, for example, monero, even FBI wasn't able to prove which adress belong to  whom.

[emuLOAD]

Guys, if you are scared, go away. sell every last dime you have and never look back.
This world will destory you.

[maarx]

As you all aware of Bitcoin and other alt currencies are plummet due to ban of Crypto currency Exchanges in South Korea and the government was preparing a law to close all the nation’s exchanges this is because of speculations about illegal acts could be perform through Crypto currency.

So, my point is if anyone can give me opinion on this matter as it seems that in future more countries will follow this perception and it will badly effect the crypto market.

Though there are reasons for banning in South Korea, there are other countries like Japan has accepted and started mining in a large investment and recent news is Russia has almost discussed and decided to accept bitcoin in their country. So as coin has two sides, there are countries who really look at needed assets like bitcoin in their respective countries.

So as long as people are there suporting crypto, it does not have an end to it.

[Lucius]

I do not know what's new here,BTC price go up&down all the time,and the reason may be in some bad news or just some whales dump coins and play endless game of making profit.About a month ago we had a similar situation when price is drop to 11 000$ or even bellow that level in some exchanges,but from that time price is go up to 17 000$.Times when changes in price was only few hundred $ is over,now is few thousands up&down in a 24-48 hours.If you want to be in the world of cryptocurrency be ready for anything,there is no guarantee for price-it can be 1$ or 100 000$,otherwise is better to keep your money in some less risky assets.

[usahaali04]

It is very difficult to resist if this perception is done by the state. We need to discuss this issue to institutions that are above the state, namely the United Nations.

[Anti-Cen]

My stop-loss at $10,000 on BTC could trigger that I put in place due to high
tx fees pulling the price down of Bitcoin so it's no panic move on my part
if I jump out but I am not sure the drop across all alt-coins has much to do
with South Korea at all myself because Ripple is down like all the others
and that should in theory offer some protection against government
regulations

Just like on 9/11 we are being given half truths and taking it as if it's facts

[LtMotioN]

Stay strong and HODL, weak hands are just being shaken out of the ecosystem.

Dont say BTC is plummeting, rather say BTC is on 40% off SALE today !

[Mi5h0]

The news articles on bitcoin are the worst. How many times Bitcoin 'died' already?
I stopped counting honestly. Just let it fall, more for me. The deeper the fall, the bigger the bull run. Every time.

[teejaymuna]

Just as the South Korea government has or intend to ban BTC so are ither governments like Russia planning to adopt BTC. Everyone will not have to like BTC. But like it or not BTC has come to stay and it's value will bounce back.

[GoodAltcoin]

Sale! Discount! 

But seriously, even if South Korea banned the exchanges (which they haven't done yet, it's more like talking about regulating the market), exchanges will pop up in other countries. Also, what about developing the decentralized exchanges, Loopring etc?

[rumexx]

I think this is not the case because South Korea did not ban Bitcoin as the government  later issued a communique that it did not ban Bitcoin. This is retracing and it was expected since last year but it did not happen. The  price is now ready to move up after hiitting the support at $11500 this morning.

[guybrushthreepwood]

>>>>https://bitcointalk.org/index.php?board=57.0

There is no South Korea ban as of yet. They'll just reviewing their policy. It's more about China, who are banning bitcoin for the 20th time in the last few years.

What I find most alarming about this is is that it's not even an actual thing yet and is something that has to be passed by parliament so might not even happen and probably won't, but if this is all it takes to wipe thousands of the value then bitcoin and cryptocurrencies are never going to be taken seriously. What happens when officials from other countries like the USA or others decide to start spreading rumors that they're going to ban or regulate bitcoin or exchanges? The price will plummet even more and people will purposely start manipulating the price just to be malicious and to cause disruption. If you have a gripe or fear against bitcoin because it threatens your power then it's easy just to spread fud backed by nothing other than words.

[taeewo]

China banning i c o was like a bad news that affected all the cryptocurrency prices then, but later stabalize.


Am sure this will only affect for some weeks and return to normal..