The Crypto Currency market is down and still dropping as Alt-Coins like Ripple XRP and IOTA showed about 23% and 14% loss in price respectively
There is a significant loss across all the cryptocurrencies and one would ask what the possible cause for the downward trend in price movement
Bitcoin is down by almost 12% in the last 24hours with trades around the $13,300 range
Could this fall be attributed to South Korea's clamp down on Exchanges and its intention to regulate the Crypto Currency Exchanges in the country. On Sunday 14th January 2018, the Korean authorities require Exchanges to use their real names for Trading accounts and fines will be imposed on those who do not qualify.
In recent past huge volumes of trade has been known to come from South Korean Exchanges, could this be the cause of low volatility and price fall? its something to ponder upon.
Some crypto traders will see this as the best time to get in on trades and also HODL (Hold CryptoCurrency) their position until the recovery of the market.
Thank you for reading.
https://twitter.com/Bitkfactor7
