Reasons Behind Why is Cryptocurrency Down Again

Hello steemins,

As I mentioned in my previous chart that if you are doing Day Trading in this week then try to put “STOP LOSS” because this week has been really rough for those who participate in cryptocurrencies. Most of the news which was negative and affected in Bitcoin Price. Here is the current price of BTC $5945 and the reason behind this is mentioned below.

Here is the first news
Bitthumb exchange hacked: On Tuesday evening South Korean Popular exchange Bitthumb reported a system that approx. $31 million worth of cryptocurrencies has been stolen. Coincidentally, in these days marketcap has gone to $287 billion to $257 billion and BTC and ETH prize dropped 12 and 15 %, respectively and current marketcap is $242 billion.

And there are so many news like:

Crypto Confusion in India, , Nano warns and tweeted mobile wallet users, Flat 10% Tax for South Korea or flat out lies

Here is the current chart in BTC/USD

Here I am taking 4 hours chart and market re-tested 6k and now is the critical point because there is strong support in $5800 and if its break down then market could go more down and if it cross 6k then we could see BTC could trade in $6300 within this week.

Disclaimer- Hello Friends this is my personal point of view so if you are looking for investment decisions. First of all try to research by your own and until then you are investing then I am not responsible for any of your benefit or losses and after reading this post you should admit and accept that