Decrease in the encryption currency market, where is the market headed?

The encryption currencies market has been declining over the past 24 hours with a decline of more than $ 40 billion on May 11.

Bitcoin prices have dropped to $ 8,250, and most tokens have lost a range of 20%.

Upbeat + Mounted
On May 11, South Korea's largest cryptographic exchange, Upbeat, was reportedly being raided by police, financial information analysts and the Financial Services Commission.

Upbeat's two-day swoop drowned local investors in the Korean cryptographic exchange market and ultimately affected the global cryptographic market.

Matches up to 8,000 bitcoins in upbeat events and mounts.

Mountins Trustees said they will no longer sell their funds until September this year.

The entire cryptographic market lost $ 30 billion to $ 370 billion, due to unexpected surveys of Mountes trusts and upbeat.

The cryptographic market last week recorded $ 470 billion, with a range of 5-40% profit for both Bitcoin and Etherium, with tokens such as Zilica (ZIL) and 0x (ZRX).

Since then, the cryptographic market has lost $ 100 billion over seven days. Last week the market lost more than 20% of its value.

Large investors and analysts, including Tom Striff of Fund Street and Brian Kelly of CNBC Fast Money, are opening up the largest New York Consensus 2018, a cryptography conference where cryptographic start-up companies, institutional investors, At the start of the week, I expressed optimism about the short-term trend of bit coin price.

Earlier this week, BKCM founder Brian Kelly said that CNBC's Fast Money was shocked by the fact that investors did not increase the value of the cryptographic market after the announcement of the New York Stock Exchange's (NYSE) I did.

As investors began to block-chain weekends on May 15 and as Goldman Sachs and the NYSE entered the cryptographic market, institutional investors' interest in cryptography, such as bitcoin and etherium, I expected to do it.

However, due to Mount and Upbeat incidents, the cryptographic market has suffered a stagnation in the last five days.

Where is the market heading?
The cryptographic market has dropped more than 20% over the past week.

However, given the upcoming events, including blockbuster week in New York, the market expects the market to recover as the trading volume of major exchanges recovers.