Why Cryptocurrencies are falling today?

[Ayuluv2001]

Does anyone know what happened to the market? I know it is a good time to buy but just wanna know what happened that trigger the huge sell off and price reduction.

[SaoAccel]

Cryptocurrency is falling today because of market corrections because the market is currently oversold and most traders would always maximize their profit in a short term. Traders and whales doesn't always buy coins and stock them up, most of them just buy at low and sell at high in a oversold market.

[Ayuluv2001]

Thanks. Can I say that they buy and hold them for a couple of weeks for this case and sell them since past couple of days?

[iconoclast]

Does anyone know what happened to the market? I know it is a good time to buy but just wanna know what happened that trigger the huge sell off and price reduction.

The current plunge can be traced to a raid on the offices of the Korean Exchange UPbit by Korean Prosecuters. Since Korean Exchanges are forbidden from having foreigners as clients whatever the outcome will be highly localized and presents an enourmous gift to those looking to buy prior to the Consensus 2018 conference in New York.

Here is an article on Bloomberg about the raid. https://www.bloomberg.com/news/articles/2018-05-11/cryptocurrency-exchange-upbit-raided-by-south-korean-authorities

[anggriani]

Does anyone know what happened to the market? I know it is a good time to buy but just wanna know what happened that trigger the huge sell off and price reduction.

The current plunge can be traced to a raid on the offices of the Korean Exchange UPbit by Korean Prosecuters. Since Korean Exchanges are forbidden from having foreigners as clients whatever the outcome will be highly localized and presents an enourmous gift to those looking to buy prior to the Consensus 2018 conference in New York.

Here is an article on Bloomberg about the raid. https://www.bloomberg.com/news/articles/2018-05-11/cryptocurrency-exchange-upbit-raided-by-south-korean-authorities

I also heard the news and I'm sure all users on the exchange are selling all of their crypto assets in a panic and creating dump.
https://www.google.co.id/amp/s/cointelegraph.com/news/s-koreas-largest-crypto-exchange-upbit-investigated-by-police-markets-react/amp

[daenarys_stormborn]

indeed that is the world of cryptocurrency, will not forever continue to increase, and otherwise will not forever experience a decline, this is certainly the case, because a few days ago crypto was really at the highest price

[asepsetiawan1990]

many factors influence. one of them in my opinion is the number who sell from the buy. this may be the effect of soaring prices that occurred late last year.

[Meraki]

Does anyone know what happened to the market? I know it is a good time to buy but just wanna know what happened that trigger the huge sell off and price reduction.

It is normal occurence in crypto market, it is not always green or what crypto is volatile it can experience upsand downs. It is always good to buy @ low price knowing that it will comeback again in the future.

[genixye]

Does anyone know what happened to the market? I know it is a good time to buy but just wanna know what happened that trigger the huge sell off and price reduction.

South Korea's biggest exchange UPBIT surveyed, because there is no actual false modified data under the condition of preserving encryption currencies, suspected of cheating investors, influenced by the negative news, encryption back currency market as a whole.

[Ranillo79]

I guess the reason of crypto fall now is because of 8500 btc dump recently. This give huge factor to make the market back on red days. But these is not the only one, tgere are big whales or known individual in crypto making fudd for reason to dump the btc price and buy at this low rate. Its will be good on them but for as a small type of crypro user. It will affect as so deeply, so dont trade for now wait to recover the market and be healthy again

[goffbar]

There is many factor which cause that. But I think it's because of Whale. I hope it will recover back and no more any bump again.

[shapegray]

https://www.ccn.com/8200-btc-moved-from-mt-gox-wallet-possible-sell-off-affects-bitcoin-price/

Is the price down due to this?

[louie69]

It's bear market once again and this is right time time for buying btc and altcoins at a much lesser value. Current fluctuations seems to be an adjustment period for the crypto coins and once you had bought, then you'll have to hold again and wait for it to recover again. Don't get too much affected by this bear market for it will not stay that long and will revert the down trend back to an up trend mode market.

[CryptoTrip]

Before all known consensus conference, it is necessary to make the price of the cryptocurrency more affordable for large players. We are waiting for the conference and the next rapid growth. So for now you can relax

[Razick]

It might be that some whale is trying to pump the price and to do that they need the price to fall low and they can buy in. Either that or the market is just following normal market movements and going back down after being up for a while which means it would only be a matter of time again before the price goes back up and we are back in green again.

[BogdanGFTP]

I think it's because technical factors. Recent weeks we saw increasing of the market and now it's time of correction. I think the correction will stop after the beginning of the Big Conference

[LeroyBro]

Might just be the markets correcting. I haven't seen any recent FUD that might affect the markets so drastically and I doubt it's the whales as well so.

[cryboy24]

I don't exactly know the reason. But they are always fluctuating in this market. It's  a good time to buy and hold coins. If you are patient enough , long term investment can bring you a good profit.

[ashley_49]

I will suggest you to keep calm because before a major event there always a drawdown happens no need to do panic. Keep your eyes on the market the price will rise soon. And I have heard that there was a problem with an exchange in Korea. I hope this will be solved as soon as possible.

[cryptothief]

I'm generally steering clear of my portfolio at the moment, aside from dipping in now and again to do a quick top up on some. Any news seems to have an exaggerated affect on the markets, so keeping my head above water and building it up very slowly seems to be the only option.