Global crypto market down - what may be the reason?

[MrSpasybo]

Reasons:

Frist China want to ban all the foreign exchanges in their country.
https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

then France Creates Working Group for Cryptocurrency Regulation
https://cointelegraph.com/news/just-one-person-found-to-have-caused-bitcoins-jump-from-150-to-1000-in-2013

then German Central Bank Director: Crypto Regulations Must Be International
https://cointelegraph.com/news/german-central-bank-director-crypto-regulations-must-be-international

Also India already setup a board for crypto regulation.

[gjtnwls1]

It might be what is happening in South Korea. The government is not going to ban the exchange sites but they will always has option to close them if it is necessary.
And I heard that no more foreigners and under ages are able to trade in South Korean exchange sites. I think they are selling what they have now before they lose them.

[Slow death]

Hi guys! We are launching pump chat and newest info channel about BTC, come and join: https://discord.gg/pk6TAJz

these pump chats are one of the main things that spoil the image of bitcoin and altcoins

Ami I missing something here? Can anyone please enlighten us with the possible reason?

in all the news channels talk about the possible reasons:

Crypto Market Suffers From Uncertainty in Asia, Losses Up to 40%

Markets Update: The Top 68 Cryptos Dive During the January Slump

Its safe to say cryptocurrency proponents are uncertain especially with the media hype and regulatory rumors stemming from countries like China and South Korea. Unfortunately, the reports have been conflicting, and no one has been able to pinpoint what is actually happening. For instance, South Korean trade volume is still very active and many cryptocurrencies there are trading at a premium ($14,775 per BTC on Upbit). Trade volume with the South Korean won has only dropped 1 percent since last week and exchanges are still trading many different cryptocurrencies.

bitcoin fell to $ 10700, that was a big fall and all altcoins are in the red

[Saimabutterfly]

Its probably China again, and ofcourse Korea too, people are selling in panic. I recommend hodl.

[avikz]

well bitcoin started going down and whenever that happens altcoins, without any hesitation, start their dumping. and that part doesn't really need any reasons to happen. it just happens.

and as for bitcoin, as you may have guessed already from this board and the "internet", there is a lot of FUD about banning bitcoin again circulating the media.
and it baffles me that people still care about what the government says about the "decentralized market"!

The problem here is the participation of the market has been divided between Bitcoin and also other Altcoins. And we have seen these early on when the price of Bitcoin got down from each recent high and suddenly some Altcoins starts pumping. With these happening all of the cryptocurrencies suddenly started to go up. And now with some Bad news many traders started to sell their cryptos for profit taking that is why we are seeing the market now in red.

That's true! We are seeling large number of sell orders for all cryptos, but also bitcoin has gone down to an insane level. I can't say this is a normal fluctuation since it is going down for more than 24 hours straight.

Also many people are pointing towards South Korea news of banning Cryptocurrency. But I am sure that is not the case. Because this news is taking round in the market since few weeks now. But they haven't yet come up with a official notification and the market dropped more than 20%. There's must be some other reason which I am not able to guess. Probably a big gameplan by a group of market influencer is playing a background role.

[almaroof]

The reason is the Korean and china news

Bitcoin is too sensitive to news


The media plays a major role in this Revolution

[secondgarlic]

It's due to news coming from China. This had already happened in the past, and it's normal for markets to react like this initially to such news. What we must do right now is to not panic and keep hodling, and hopefully the prices will return to their old status soon enough.

[God Fist]

I think that the reason behind all of this is Chinese people cashing out their money for the lunar new year and thus bitcoin has  went down , it is much  similar to what happened in last Christmas but at a bigger scale and no one should be worried about all of this dumping because bitcoin has proved itself able  to grow back (even if it may take a little longer to do so this time ) .
People are more and more spreading FUD everywhere and any holder is having "on paper loss" at the moment , he'll be at a real loosing condition if he sells his funds for a lower price , therefore HOLD YOUR FUNDS !

[btc_angela]

well bitcoin started going down and whenever that happens altcoins, without any hesitation, start their dumping. and that part doesn't really need any reasons to happen. it just happens.

and as for bitcoin, as you may have guessed already from this board and the "internet", there is a lot of FUD about banning bitcoin again circulating the media.
and it baffles me that people still care about what the government says about the "decentralized market"!

The problem here is the participation of the market has been divided between Bitcoin and also other Altcoins. And we have seen these early on when the price of Bitcoin got down from each recent high and suddenly some Altcoins starts pumping. With these happening all of the cryptocurrencies suddenly started to go up. And now with some Bad news many traders started to sell their cryptos for profit taking that is why we are seeing the market now in red.

That's true! We are seeling large number of sell orders for all cryptos, but also bitcoin has gone down to an insane level. I can't say this is a normal fluctuation since it is going down for more than 24 hours straight.

Also many people are pointing towards South Korea news of banning Cryptocurrency. But I am sure that is not the case. Because this news is taking round in the market since few weeks now. But they haven't yet come up with a official notification and the market dropped more than 20%. There's must be some other reason which I am not able to guess. Probably a big gameplan by a group of market influencer is playing a background role.

The South Korean government already made official statement that they are not banning cryptocurrency. And the news about them have been hovering around and their statement already closes that page already. So I don't think it will be a big factor for today's crashed.

I also think that there is someone pulling a trick from behind, which the speculators and the newcomers follow causing panic and a domino effect. This will be just temporary, I'm sure that the market can recover again.

[icanscript]

I think this is news from China and Korea.
Such falls were already after all the news about Chinese prohibitions appeared, but then Bitcoin increased everything in a few days.

[kaysersoze]

There isn't a certain reason for this, a lot of people are selling right now and that is the "main" reason of why everything is down at the moment, but for me is a gold opportunity to keep buying as much as i can, i dont see anything wrong with this

[icanscript]

Reasons:

Frist China want to ban all the foreign exchanges in their country.
https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

then France Creates Working Group for Cryptocurrency Regulation
https://cointelegraph.com/news/just-one-person-found-to-have-caused-bitcoins-jump-from-150-to-1000-in-2013

then German Central Bank Director: Crypto Regulations Must Be International
https://cointelegraph.com/news/german-central-bank-director-crypto-regulations-must-be-international

Also India already setup a board for crypto regulation.

Official prohibition of the Chinese authorities to trade bitcoin inside the country? If not, then this is another speculation.Many are ready to take advantage of this

[psychedelicbrain]

so if countries decide to ban cryptocurrencies, it would be wise to invest in anonymous currencies now.
i think OBFS4 is impossible to track and even works in china.
is xspectre the only currency that has implemented this?

[nhanhzam]

Because of the China and Korea ban, created fear and there seems to be many weakhands. After seeing the bullish market last month, maybe a lot of new people get involved in crypto market, the inexperience lead to panic sell. Don't worry, the price will be back soon.

Bloodbath like this is very common in the crypto world, you can make huge profits during this time by buying cheap coins, or play it safe: just HODL>

[Tenderino]

According to the news I saw on google that South Korea is looking to ban cryptocurrency exchanges on their country. That's probably one of the reason today why bitcoin market is going down.

The global crypto market went down and not only bitcoin. Crypto market cap went down from $840 billion to $540 billion within a few days and I have honestly no idea what caused this huge downswing. On the other hand, if you consider that the bitcoin price was only $1,000 one year ago, the price is still good. And you still can use bitcoin as a payment method.

[Sumo]

Dear community members,

I believe everyone has noticed today's global downfall of crypto market. Most of the assets are down by more than 15% and bitcoin is heading towards 10k mark.

I am surprised to see the downfall because I was not able to find any significant news which may have caused this downfall.

Ami I missing something here? Can anyone please enlighten us with the possible reason?

Thanks!

This fall is caused by another ban on China and Korea. They have already done this several times and on these news the market is falling. After they give up their words and the market begins to recover. Do not worry, all these events are common for crypto currency.

[gundala]

Actually the rise and fall of virtual assets is a natural thing, especially the last few years every January there is a significant price decline. of course you know, JP Morgan statement, it brings considerable influence. Stay calm, this issue will soon pass.

[avikz]

Actually the rise and fall of virtual assets is a natural thing, especially the last few years every January there is a significant price decline. of course you know, JP Morgan statement, it brings considerable influence. Stay calm, this issue will soon pass.

The fluctuation is a normal thing for crypto most definitely. That's the reason why speculators are active in this market. But thia time the downfall seems wired. It is constantly dropping since last 36 hours straight without any apparent reason.

Last year, it was because of JPM statement but this year it is probably due to the China's crackdown on mining operations and South Korea's ban. It's better if the market start recovering soon, I have a big money on stake.

[keithkai]

Chinese, Korea, always this two country's gov that keep on saying bad news. But actually, nothing is for sure now.

[crazyivan]

According to the news I saw on google that South Korea is looking to ban cryptocurrency exchanges on their country. That's probably one of the reason today why bitcoin market is going down.

How about you read about stuff before you post shit on this forum.

They do not want to ban crypto, they want crypto exchanges to pay taxes. Is that something strange to ask them?