As I feared, everyone is panic-selling all of their crypto in response to the news that South Korea could move to ban all cryptocurrency trading within the country. This is a drastic step that is much more overbearing than just banning anonymous trading accounts. I am hoping this is FUD, and I have heard that this is the case from multiple sources, but no one really knows for sure yet.
It is one of the saddest days in crypto that I have experienced for quite some time. 95 out of 100 of the top 100 coins are down today.
BNB (Binance Coin) is the only coin that has a gain in the top 30.
Let's hope that we see a quick recovery, and let's hope that all of the panic selling will quickly come to a halt. Many people will feel very down on themselves if they sold for a low price and the price rebounds.
1. SmartCash- 34 percent gain to $0.618 and a $354 million dollar market cap
2. GXShares- 23.5 percent gain to $9.85 and a $591 million dollar market cap
3. Binance Coin- 20.5 percent gain to $21.06 and a $2.085 billion dollar market cap
4. Augur- 7.4 percent gain to $107.72 and a $1.184 billion dollar market cap
5. Medibloc- 5.4 percent gain to $0.220 and a $654 million dollar market cap
1. Dentacoin- 38.2 percent loss to $0.00252 and an $820 million dollar market cap
2. Dent- 28.5 percent loss to $0.0627 and a $666 million dollar market cap
3. Kin- 24.7 percent loss to $0.000696 and a $526 million dollar market cap
4. Substratum- 22.6 percent loss to $1.92 and a $434 million dollar market cap
5. ICON- 22.1 percent loss to $8.72 and a $3.299 billion dollar market cap
Steem had another dreadful day dropping to $4.41. Steem Dollars followed dropping to $5.51.
Enjin started off strong and then lost steam, dropping to $0.321. MANA fell to $0.174 and EOS remained stagnant losing less than half of a percent, and landed around $11.00.
Today was a disappointing day for crypto, and I hope that it will rebound soon.
What do you think will happen next? A continuation of the bear market, or a reversal? Tell me in the comments.
To the moon,
@bwells