Recent Hack in Coinrail resulting this Sudden Crash?

[commander11]

I don't understand the sentiments here. Coinrail's daily volume is only 2M$+/- but the market fluctuation reacts in exaggeration.
Market shouldn't suffer this drop ( almost 40Billion$ loss) in marketcap just because of coinrail's hack incident?

I think that market is over-reacting in this FUD.
I think that manipulation in bringing down the price with the market sentiments really works well.

What's your opinion?

[steplaza]

I've heard about this hack being the cause as well...it's true that it is no big exchange but keep in mind it's south korean, a place where there is  a lot  of the crypto volume movements

[cryptotezi]

The big reason which is carrying the load of huge market crash is Coinrail hack. Since most of the traders here are from South korea, a huge number of trade is paused for the incident. And following the reason, FUD has been spread unbelievably. Finally, price is just dropping so fast. In this current situation, just HODL would be the only policy to learn and see the market movement.

[commander11]

The big reason which is carrying the load of huge market crash is Coinrail hack. Since most of the traders here are from South korea, a huge number of trade is paused for the incident. And following the reason, FUD has been spread unbelievably. Finally, price is just dropping so fast. In this current situation, just HODL would be the only policy to learn and see the market movement.

I think some big market manipulator ride this sentiments and shorts the market, extending its downtrend as far as possible, getting them a good position of entry in the new cycle. I hope most of us are strong enough to face this FUD. I don't want to be the whale's dish either when panic selling.