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The cryptocurrency investors are going through a terrible nightmare as the market has dropped to a shocking $112 billion to $570 billion in just a day.
All the top 100 cryptocurrencies are experiencing this fall terribly and 94 of these cryptocurrencies have actually fell to a double digit.
As we write bitcoin is currently trading at $12,305.70 which can see from the graph below and is terribly down from last month which was around $20,000.
The reason for this market fall comes with a statement issued by the South Korean Finance Minister, one one of the important country in the cryptocurrency market which is considering imposing strict trade regulations for operating cryptocurrency.
The terror was already filled by China, which had already banned ICO's and plans to kill 70% of its Bitcoin Mining Network.
Russia on the other hand is also preparing its cryptocurrency regulations.
good helping post....you can get something useful here
https://steemit.com/cryptocurrency/@srkraj/my-take-on-the-crash-today
I think regulations are much needed in this crypto jungle, a lot of worthless ICO's have been pumped recently. I expect 2018 to be a year in which the focus will lie on utility of projects and real use cases instead of fancy websites and white papers.