Why is this recent price drop?

[parweshparva@gmail.com]

Is the recent price drop of cryptos are because of news of South Korea blocking cryptocurrency & China recent crackdown on crypto related website & mobile apps?

or there are some other reasons?

[Anniee123]

The main reason is that China intends to further regulate the cryptocurrency. Perhaps China is the biggest factor in determining the price fluctuations of the cryptocurrency market.

[ishinn99]

The main reason is that China intends to further regulate the cryptocurrency. Perhaps China is the biggest factor in determining the price fluctuations of the cryptocurrency market.

So, Is this really china that affects the price of btc? Because I have noticed that all cryptos price drops now. Is there any way to do to make all cryptos price rise again? I hope that this issue will not worsen the trading and using of digital currencies now.

[BitChief]

The main reason is that China intends to further regulate the cryptocurrency. Perhaps China is the biggest factor in determining the price fluctuations of the cryptocurrency market.

So, Is this really china that affects the price of btc? Because I have noticed that all cryptos price drops now. Is there any way to do to make all cryptos price rise again? I hope that this issue will not worsen the trading and using of digital currencies now.

Yes when BTC falls, alts fall with it. I think the combination of regulatory concerns with the fact the market was overdue for a correction. There was a lot of gains in a fairly short period

[Kakmakr]

It is a bit of a domino affect, because some uncertainty in regards to regulation in China has sparked a mini dump in those regions and now people in other countries are also triggered to start selling. Most of these people are speculators and they are protecting their investment by selling above the price they have bought at.

I am curious to see where the turning point is, because that will determine how much of the money invested in Bitcoin is just speculators playing the market. ^hmmmmm^

[akiraminai]

I think some regulations that china made affects bitcoin's price big time. China mostly has the biggest market supply and had the biggest contributions in market cycles all over the world. Just as a wise man said " Goods in the market are original, the others are made in china ".

[SONG GEET]

I think some regulations that china made affects bitcoin's price big time. China mostly has the biggest market supply and had the biggest contributions in market cycles all over the world. Just as a wise man said " Goods in the market are original, the others are made in china ".

Chinese dominance over Bitcoin price is not that high right now so current dump might be fueled only by south korean bull shit backed by south Korean whales and bankers.

There are many newbie investors who are just speculators in Bitcoin so they will panic even at very small bad news like this and start to sell all they have.