What's the deal with South Korea?
We all have South Korea to thank for our recent bear market in crypto.
First, they decided to ban all anonymous accounts on Korean coin exchanges and said there would be no new signups allowed.
Then, news came out yesterday that South Korea was planning on banning all trading on cryptocurrency. If this is true, it would be horrible news for crypto, and this is why we have seen such a steep drop in prices over the last 24 hours or so.
According to many avid crypto users, the announcement of South Korea moving to ban all crypto trading was simply FUD (fear, uncertainty, and doubt) by the fake news mainstream media. This wouldn't surprise me one bit considering that I don't believe much of what I see on the news. It is also quite funny to me that mainstream media has been so against cryptos such as Bitcoin and Ethereum for the past few years, and now suddenly they are behind Ripple.
Of course they are! Ripple isn't even decentralized and it is essentially not even a cryptocurrency, in my opinion. Ripple goes against everything that crypto stands for, and that is probably why all of the major banks, media outlets, and "financial experts" are touting it up to be "the next Bitcoin". Don't fall for their trap!
I am still not sure if South Korea will ban the trade of cryptos completely, but I am keeping my fingers crossed that it was indeed fake news, and I believe deep down that this was simply another attempt by the mainstream media to cause a crash in the crypto market.
I will share a couple of the links that have caused such a terrible market for crypto over the last 24 hours below.
What do you think about this South Korean mess? Tell me in the comments.
To the moon,
Thanks for the info big brosky!
korea you need to chill bro why you do this always
Thanks u so much for given information.
@bwells
Resteem
Keep some low ball buy orders on the coins you want. Who know’s what deals may arise while you’re sleeping :)
Agreed with not falling for the ripple trap. Its just banks trying to cash in on the movement of cryptos!
Maybe the FUDSs are intentionally spreaded to lower the price. A good time for big investors to start buying in. Same Thing with Micorosoft a few days before.
The issue of south korean banning all crpytocurrency don't even move me a bit.just like what happen the time chinese wanted to bann cryptocurrency,out of fear i sold 1 btc at the rate #980,000 .As at last december where btc goes up to $20,000(>7million naira) i nearly kill myself for such misforture just by listenning to chinese rumors that time.Now ,south korean done bring their own rumors again .Friends,this is an ample opportunity to acquire more tokens as possible.believe in me many will out of fear loose their crypto just because of this rumor.i have seen it that this is a great stratagy to pull down the price of btc so that the wise people will maximize the opportunity.In conclusion,As far as btc survive chinese rumors so will it survive south korean rumors.thanks you all as we stay focus and do our coins as usual.
I dont know whats wrong with them...
It really crashed all the price of the cryptocurrency
was da los?
I think that coinmarketcap is also to blame for all this! When they took out the feeds from Korea they launched the market into chaos!!!
Korea is the biggest player in Crypto market crypto is mass used there, i don't know why coinmarket cap started this :(
I think they did this because the prices were so much higher there, or maybe somehow they knew there were talks of banning trading altogether in South Korea?
Either way, it sucks for now, but hopefully we will see a swift recovery!
but by freezen the feeds they provoked a panic selling...
yer they had some crazy inflation bitcoin gold was trading on kucoin the other day for 1090 and on coinspot for 370 at the same time..kucoin would not let me create a wallet though because that would of been sweet to send a few of them across
I have Kucoin Account it grow so much lately...