The crypto market is (for a while) again shaken ...
source
A crypto market that has no history long is extremely sensitive to news of any kind.
Over the past five months, the crypto market has fallen by more than 55 percent, from $ 829 billion to $ 372 billion.
In January, at the peak, the market for crypto assets has almost reached trillion dollars.
Since then, the price of most cryptosks like Bitcoin, Ethereum, Bitcoin Cash, EOS, and Ripple is more than halved.
An increasing number of investors began to lose interest in the market of all major and new crypto currencies.
Such a situation is like a fresh wound and the slightest contact leads to the pain - the market's fall.
When is taken into account by major media and the global embargo for information, we have a very reactive foundation is created for all types of panic and fear.
The world elite obviously has a lot of cards in his sleeve.
Today, there is a new price drop on the table!
source
How serious this it is, show will time.
As always so far ...
Reasons recent and todays correction of the crypto markets and the short-term reduction of Bitcoin, Ethereum and other major cryptosks and coins
1. Bitfinex Tax Policy
Bitfinex requested "of one number, not all" users to submit the some documents.
News spread quickly.
Bitfinex is a company based in the British Virgin Islands, with another office in Taiwan.
BVI has no tax policy for great investors and favorable regulation attracts many of the biggest companies, such as Bitfinex and large number Initial Coin Offers (ICO).
However, the pressure of large economies and governments such as the United States could have a negative impact on the British Virgin Islands if the US decides to directly contacting the BVI government to increase pressure on US investors to not be avoid taxation.
Bitfinex statement:
"The BVI Government may now exchange information with the tax authorities of the country of residence of the buyer,
in accordance with the regulations of the British Virgin Islands, and The US Taxpayers Act (FACTA)
and the Organization for Economic Co-operation and Development -
Common Reporting Standard (CRS). "
After this announcement, nothing else could be done than:
Selling big investors on Bitfinex, which remains the largest Bitcoin-to-USD exchange, was one of the main factors contributing to the fall in the market of cryptology over the past week.
Now the situation is trying to calm down and there are indications that Bitfinex could move to Switzerland (tax paradise), where have not "tax problems".
2. Scandal ( per scenario )of the two largest stock exchanges of the South Korea, UPbit and Bithumb
false alarm
The South Korean market of crypto currencies has begun to recover from the UPbit and Bithumb scandal since recently following the release of the official audit report of Yoojin's leading accounting firm, which confirmed that the funds of UPbit and Bithumb were within legal limits.
3. The Sales Bitcoins of Mt. Gox ( commissioner for bitcoin funds ).
If investors return to the South Korean market (they are already coming back),
the global market is recovering from the Bitfinex case,
and MtGox sold its Bitcoin
it is very likely that the crypto market will recover and return.
Anyone who believes in a crypto revolution must be prepared for constant, new and new attacks.
Anyone who lose with cryptography technology will not sit still and watch what's going on.
In Expecting new news - HODL (without panic).
until next time, big greeting
Be a long term investor. That is the best strategy here. And invest not because someone told you its good, invest only if you fully believe in it. Relationships can be destroyed by bitcoin's volatility. If only there is an asset that can test the nerves of the boldest out there, its bitcoin. Market is being sold cheaply because institutional interest in gaining momentum and they are the ones buying. Nomura is getting into the game. Goldman is getting into the game next month. Keep calm and HODL.
I agree with you.
These are "games without borders",
but no for people with tiny nerves.
I just do not like what's all spinning around bitcoins.
Like yes most people still identify blockchain only with Bitcoin ...
People need to understand that the amount of bitcoins sold from Mt. Gox trustee itself couldn't move the market that much (when you compare it to daily volume). It's only their PERCEPTION of the Mt. Gox thing that causes them all to sell.
But really, what it all comes down to? Market cycles and herd mentality. Understand these two, leverage them, and you'll be set.
That's right. But....source
Great eyes are in fear.
Too much malicious information in the air.
People are confused.
Most people still do not believe in blockchain and send such vibrations ( bad )around.
Those who have purchased some crypto simply are afraid for their investment.
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