south korea is not banning bitcoin, but why the bitcoin price is still falling?

[desi92]

Other countries, like India, recently said that they didn't recognise cryptocurrencies as currencies and thus will prevent people from using them.

My country too. They prevent to use crypto as currency but its oke to use crypto as investment.
Crypto nowdays just as investment tool and not as currency so this issue should not have big effect crypto.  But why all the price were falling down very rapidly? All about panic sell i think.

[bisdsad]

Because countries have unfriendly information about bitcoin, too much negative news, bitcoin's market has been volatile, and it does not rule out that whales are phasing out selling bitcoin in an attempt to control the price of bitcoin.

[jvdp]

a few weeks ago, the outstanding issues that the bitcoin price falls due to south korea plans to ban bitcoin. but until now, after the south Korean government announced officially does not prohibit bitcoin, the bitcoin price is still down.

Majority of the governments are discussing this technology because it is secured and easy to access in anywhere but few peoples are easily invest in illegal investment so south Korea decide to fix the taxes.
 But still many hacking issues are occur in cryptocurrency and Chinese festival also affected this crypto market. So don't confuse this problem it will recover in few more weeks.

[darklus123]

a few weeks ago, the outstanding issues that the bitcoin price falls due to south korea plans to ban bitcoin. but until now, after the south Korean government announced officially does not prohibit bitcoin, the bitcoin price is still down.

Some of this issues may really affect the current price of bitcoin. Tho I think that the current situation of South Korea towards bitcoin does not really affect too much of it's price. Yet more likely users now are starting to convert their amounts which then leads to sudden decrease of bitcoin's price. Of course they are more likely would have to take their profits.

[jayco25]

Korea is not the major reason of the falling of bitcoin price. A lot of wrong information posted in social media why price of bitcoin drop. A lot newbie hodlers with enough knowledge  but hopefully price will back this month.


#Datarius

[wodebutterfly]

Now, the bitcoin market has become more fragile to market news as a result of the regulation policies and also under the effect of the futures market. However, we still need to have confidence as I don't think that the major countries will united with each other to regulate bitcoin and other cryptos as it is very hard for them to find a common interest for doing so.

[xieqieshangu9]

Personally, I think some countries in east Asia are preparing for the Spring Festival in China!

The Chinese will take the money out of the deal and prepare for the holiday!

I think the market will be better in March!

[haocoin]

Not only South Korea, but also other countries have recently announced the ban on bitcoin. Although none of these countries have promulgated a ban, the media will expand the coverage of the entire incident and will be banned even without the prohibition. This is a rumor that the dissemination of information has limitations, what is important is that the nature of bitcoin itself gives criminals the opportunity to commit crimes that affect the sovereignty of these countries, leading many countries to ban Bitcoin.

[alyssa85]

South Korea has nothing to do with bitcoin's drop. Nor India.

Bitcoin's price is correlated with the amount of new people coming into teh coin. That has dried up because the media keeps saying "bitcoin has lost half it's value", instead of "bitcoin's price is roughly where it was in October.

People don't buy when the price is falling, they don't see a bargain, they imagine it will go down further. They will only come back and buy when bitcoin re-establishes an upward trend.

[rajuahmed330]

every new year bitcoin price dump.see the hiostory but end of the year bitcoin will touch 50k
so no need to be worried.

That is not a sure news that it will go $50k.
But your taking about every new year bitcoins price getting low I support this talk.I saw the chart. But January month end, but still dumping, it's really worried us. At this time we should follow up the next month.

[Superpacman]

List of country banned BTC
https://www.fool.com/investing/2017/12/03/6-countries-where-bitcoin-is-banned.aspx


Reason why bitcoin fall

http://listverse.com/2017/11/23/10-reasons-why-bitcoin-will-fail/

[coin_1122]

Korea is not the major reason of the falling of bitcoin price. A lot of wrong information posted in social media why price of bitcoin drop. A lot newbie hodlers with enough knowledge  but hopefully price will back this month.


#Datarius

Yes, it is one of the reason but there are many other negative thoughts about the market because bitcoin price increased a lot with in short period of time and in order to reach it's ATH it should consolidate before increasing it's price. This makes more panic about bitcoin and people are selling them in the market.

[Dapper]

As always, it's just the market. 

Btc at 1 cent or at 100k a coin is a success.   It's not a failure or scam just because some people lose money investment wise.

[coolcoinz]

Reason why bitcoin fall

http://listverse.com/2017/11/23/10-reasons-why-bitcoin-will-fail/

This is an article from NOVEMBER 23, 2017 It was obviouslty made to stop people from investing 3 months ago, but everyone ignored it. It had completely no impact on the price that skyrocketed right after it was published. Do you know why? Because the article is dumb. It makes no sense and the author is proving to know nothing about Bitcoin.
For example

One of the biggest benefits of Bitcoin it that it is supposed to be private, secure, and untraceable

It was never made to be an anonymous currency, it was made to be independent and decentralized! All transactions are visible in the blockchain for a reason.

[ClownSpider]

I like when that Wolf of Walstreet guy was on Fox news saying "Bitcoin is a currency made up of lots of other currencys".  lol
Another guest said "why are you even here?  What do you know about investing?  The only reason you are famous is because you ripped a lot of people off!"

ha ha

[werner52911]

The bad news around the BTC continues. Every day another message in the world that crypto currencies should be banned. People lose confidence and that is bad for the price.
A few weeks ago there was no stopping on the way up and now it goes in the other direction.
I think the BTC price has now reached its real market value and will not go down any further. You will see we have found the ground

[buhuchain]

Because except for South Korea, there are still many countries that prohibit bitcoin, and the recent volatility in investment markets are particularly large, so I think bitcoin fluctuations are normal.

[numizmat]

> south korea is not banning bitcoin
Coinpia, a South Korean exchange, has announced its decision to suspend depositing and trading at its exchange after it was unable to implement a KYC system as required by law. The government provided a tight deadline and expected all exchanges to be compliant by January 30th. However, for various reasons, this exchange could not do so: Exchange In South Korea Halts Crypto Trading Over KYC Concerns

Details of the Government Regulations
Since January 30th, the new government regulations have required banks to issue digital currency accounts to customers. That means exchanges will no longer be allowed to provide accounts to clients via their corporate accounts. This process was unregulated, and no verification took place. Thus, exchanges had no way of knowing who was a fake and who was real. Thus, their KYC policies were very weak.

Since the end of last month, everyone who owns a digital currency account has to verify his or her identity. This is achieved when an exchange collaborates with a bank. The bank is then tasked with the job of issuing these accounts. Some of the exchanges that have already done this include Bithumb, Korbit, and Coinone.

However, some banks are not so enthusiastic about this move. Some are not so willing to work with the digital exchanges. This is because they view the government as having a poor attitude towards them. For instance, the government recently threatened a complete ban on cryptocoin trading in South Korea.

[Al-e_x]

a few weeks ago, the outstanding issues that the bitcoin price falls due to south korea plans to ban bitcoin. but until now, after the south Korean government announced officially does not prohibit bitcoin, the bitcoin price is still down.

I think there are still many problems with bitcoin price drops, not just south korea which prohibits the transaction of bitcoin, india and china also prohibit the use of bitcoin. But in my opinion there is still a bit problem of bitcoin price reduction, one of them:
~ News spread all over the world.
The layman who does not understand well about bitcoin gets severely affected by various positive and negative news spread across the media.
~ A situation where more bitcoin traders than bitcoin users.
It is understandable that being a bitcoin user is a bit difficult because the trader receiving bitcoin is still small.

[Matildada]

a few weeks ago, the outstanding issues that the bitcoin price falls due to south korea plans to ban bitcoin. but until now, after the south Korean government announced officially does not prohibit bitcoin, the bitcoin price is still down.

It is not just the south Korean government's policies that affect the price of bitcoin, but many other factors.
For example, in Russia, India and China, there is bad news about bitcoin. These factors seriously affect the price of bitcoin.