We all have South Korea to thank for our recent bear market in crypto.
First, they decided to ban all anonymous accounts on Korean coin exchanges and said there would be no new signups allowed.
Then, news came out yesterday that South Korea was planning on banning all trading on cryptocurrency. If this is true, it would be horrible news for crypto, and this is why we have seen such a steep drop in prices over the last 24 hours or so.
According to many avid crypto users, the announcement of South Korea moving to ban all crypto trading was simply FUD (fear, uncertainty, and doubt) by the fake news mainstream media. This wouldn't surprise me one bit considering that I don't believe much of what I see on the news. It is also quite funny to me that mainstream media has been so against cryptos such as Bitcoin and Ethereum for the past few years, and now suddenly they are behind Ripple.
Of course they are! Ripple isn't even decentralized and it is essentially not even a cryptocurrency, in my opinion. Ripple goes against everything that crypto stands for, and that is probably why all of the major banks, media outlets, and "financial experts" are touting it up to be "the next Bitcoin". Don't fall for their trap!
I am still not sure if South Korea will ban the trade of cryptos completely, but I am keeping my fingers crossed that it was indeed fake news, and I believe deep down that this was simply another attempt by the mainstream media to cause a crash in the crypto market.
I will share a couple of the links that have caused such a terrible market for crypto over the last 24 hours below.
What do you think about this South Korean mess? Tell me in the comments.
To the moon,