Big Marketcap Crash??

[niisarearning]

Do anybody knows the reason why this big marketcap crashed even after south korean issue almost resolved then also market moving towards 5 billion from 8 billion . Is there any particular reason??

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[thebanker28]

Do anybody knows the reason why this big marketcap crashed even after south korean issue almost resolved then also market moving towards 5 billion from 8 billion . Is there any particular reason??

The S. Korea Finance Minister made some comments on a radio show about banning bitcoin trading. He later doubled down his remarks with something even more harsh and I think that moved the market. I was reading somewhere that even if he is to try and get this through as legislation, he would need a majority of votes from the parliment, and at best it would take years, and probably never - so its probably just more unnecessary FUD.

[niisarearning]

Do anybody knows the reason why this big marketcap crashed even after south korean issue almost resolved then also market moving towards 5 billion from 8 billion . Is there any particular reason??

The S. Korea Finance Minister made some comments on a radio show about banning bitcoin trading. He later doubled down his remarks with something even more harsh and I think that moved the market. I was reading somewhere that even if he is to try and get this through as legislation, he would need a majority of votes from the parliment, and at best it would take years, and probably never - so its probably just more unnecessary FUD.

I hope even same i have done lots of enough research overall it says government has to look some more consultation and research about crypto currency as major people voted against the ban or regulation . They wanted to use real Name in exchanges in south korea . May be some KYC process will happen in south korea . Its Just the Fud it seems.

[Raskolhnikov1]

Do anybody knows the reason why this big marketcap crashed even after south korean issue almost resolved then also market moving towards 5 billion from 8 billion . Is there any particular reason??

The S. Korea Finance Minister made some comments on a radio show about banning bitcoin trading. He later doubled down his remarks with something even more harsh and I think that moved the market. I was reading somewhere that even if he is to try and get this through as legislation, he would need a majority of votes from the parliment, and at best it would take years, and probably never - so its probably just more unnecessary FUD.

I woke up and I saw blood, it's already four days of failure ... I was already wondering what the cause would be.
Thank you for the information.

[LeGaulois]

I feel me safe when I see it's not only about bitcoin but a general trend. In case it is in fact because South Korea "commented" on baning cryptos I am less worried. The same situation happened with China or Japan (i don't remember well) after a couple of days it was like if nothing happened.

[nl247]

I feel me safe when I see it's not only about bitcoin but a general trend. In case it is in fact because South Korea "commented" on baning cryptos I am less worried. The same situation happened with China or Japan (i don't remember well) after a couple of days it was like if nothing happened.

It was a situation that happened with China last year when FUD was spreads on China banning bitcoin and exchanges in China were suspended until further notice. A lot of whales used it as a medium to cause some panic. What I see today is exactly related and to see blood on the streets like this for cryptos when such FUDs are raised is nothing strange.

[HeRetiK]

When the king falls, the alts follow. I'm still skeptic about whether the current BTC drop was caused by South Korea, but it's interesting to see yet another example of how alts only thrive when Bitcoin is stable.

I feel me safe when I see it's not only about bitcoin but a general trend. In case it is in fact because South Korea "commented" on baning cryptos I am less worried. The same situation happened with China or Japan (i don't remember well) after a couple of days it was like if nothing happened.

It was a situation that happened with China last year when FUD was spreads on China banning bitcoin and exchanges in China were suspended until further notice. A lot of whales used it as a medium to cause some panic. What I see today is exactly related and to see blood on the streets like this for cryptos when such FUDs are raised is nothing strange.

So is South Korea now shutting down exchanges or what? After initially threatening with a ban, then revoking said statement, we're now back at threatening with a ban again? Or is this is simply the same old rehashed news story? Not that I care much but damn is this situation confusing. I guess these kinds of plays will continue until we run out of countries banning Bitcoin.

[j753k]

HUH? Are you new to cryto? We have corrections like this all the time. Dont be surprised if we hit an all time high in the next week.

[SONG GEET]

Do anybody knows the reason why this big marketcap crashed even after south korean issue almost resolved then also market moving towards 5 billion from 8 billion . Is there any particular reason??

No south korean fianance minister is still barking about possible crypto trading ban which we all know is just a fud.

Whales are using this fud to have flash crash on market to buy back cheap coins.

[panjul07]

HUH? Are you new to cryto? We have corrections like this all the time. Dont be surprised if we hit an all time high in the next week.

I do not think what is happening today is a correction price like what we have used to see. So many coins are dropped significantly today, bleeding everywhere and most people think the same way as what OP think. Surely, we may have different opinions. Some other people may think it is just correction like what you think, others think it is the effect of the latest news on South Korean and Chinas to ban crypto trading and some others think it is just a manipulation price from big whales to get cheap price then pump it again.

[bip76]

Do anybody knows the reason why this big marketcap crashed even after south korean issue almost resolved then also market moving towards 5 billion from 8 billion . Is there any particular reason??

There issue isn't resolved, it's lessened but it's still there and a possibility. China also announced tougher regulation to be put in to place as well as something around all US transactions now being taxable.

[alyssa85]

Do anybody knows the reason why this big marketcap crashed even after south korean issue almost resolved then also market moving towards 5 billion from 8 billion . Is there any particular reason??

It's just profit taking. Lots of traders work off TA and when the charts tell them to sell, they sell regardless of what "news" is around.

[sjefdeklerk]

"it's just christmas, after christmas it will go up again"
"it's just profit taking"
"it's just a healthy correction, this is actually good for the market"
"this is a good time to buy"

etc etc etc

Hehe I really love these forums, how people are deceiving themselves

[Idrisu]

Do anybody knows the reason why this big marketcap crashed even after south korean issue almost resolved then also market moving towards 5 billion from 8 billion . Is there any particular reason??

The only reason that I have read online today was because of the Chinese regulation authority trying to ban all the crypto currencies exchangers. As we all know China is a communist countries and they hate a decentralized systems therefore crypto currencies may not strive very well in future as far as Chinese are concerned. I have read a lot about crypto currencies and most of the coins white paper and one things that I have find out there have I common is that humans been need freedom and that is what blockchain technology come to give but communist will keep fighting it.

[J. Cooper]

"it's just christmas, after christmas it will go up again"
"it's just profit taking"
"it's just a healthy correction, this is actually good for the market"
"this is a good time to buy"

etc etc etc

Hehe I really love these forums, how people are deceiving themselves

I've been in the space long enough to know that it's true. Since your registration date is the only piece of data I have to estimate your experience in this space, I will go with the rough estimate that you joined the space in the post-$10k era. Which basically means you have no significant experience yet when it comes to major crashes/corrections. Which is not an insult by the way, we've all been there. But please go ahead and sell me your cheap bitcoin.

[fabiorem]

This always happens in January.

[machinationus]

Do anybody knows the reason why this big marketcap crashed even after south korean issue almost resolved then also market moving towards 5 billion from 8 billion . Is there any particular reason??

Everything is on red numbers right now, you really need to keep seeing this as an opportunity, since you can buy almost everything for a cheap price, do not be so dumb, just buy as much as you can before this dip ends.

[richardsNY]

There doesn't need to be 'bad news' taking this entire market down. From what I see, it's profit taking on a large scale, and especially so because of lacking bullish signals. Let the market fall down a bit, it won't hurt. While the short term charts may show a massive decline in price if we look at the last month, the longer term charts show a massive increase. I am happy with any price above the $10k level, and so should others be happy about it as well. This market just can't seem to sit still in a very tight range, and fuel gets added to the fire even more with no support at any of the round price levels (e.g. $11k, $12k, $13k, $14k, etc).