bitcoin price was down due to ?

you know why the bitcoin price was down ? that create huge panic in crypto market. there was a fake news circulate in the market. this is what we called in our crypto market is #fud. The news is that :

                         "South Korea is considering a law to ban cryptocurrencies
                                    such as Bitcoin being traded on local exchanges."

Justice Minister Park Sang-ki said virtual currencies were "great concerns" and that the ministry was preparing a bill to ban trading.

However, South Korea's presidential office said later that a ban had not yet been finalised and was one measure being considered.

The local Bitcoin price fell by a fifth after the justice minister's comments.

In South Korea it trades at about a 30% premium compared with other countries.