Black January : 480 trillion won collapse, a crypto-cutting market ... four negative impact analysis

Black January : 480 trillion won collapse, a crypto-cutting market ... four negative impact analysis

The password and currency market plunged nearly 480 trillion won ($ 44 billion) this year alone, marking the lowest decline in more than 54 percent of all time. The total city wall, which recorded a record size of 900 trillion won ($ 83 billion) on July 7, was cut in half yesterday in about one month to 430 trillion won ($ 39 billion). Among them, Bitcone dropped more than 42 percent, collapsing the $ 9,000 and $ 8,000 range in four days after falling below the $ 10,000 mark last week, marking its biggest weekly decline since April 2013.

Korea was the hardest hit market for this decline. In December when the volume of transactions peaked last year, the price of domestic bit-coins was in a strong demand, generating premiums close to 50 % higher than the average U.S. dollar. From July 8, Coin Market Cap decided to exclude the exchange rate of the Korea Exchange from the list to reduce the deviation from the average price of a foreign currency.

But as Bitcone started to weaken and dropped below the 8,000 level last week, for the first time in six weeks, it was observed that Korean prices were below the global average for a premium. The average price of a Korean exchange bit coin was $ 7,960 on July 2, $ 250 below that of the same time, the U.S. exchange GDAX. Bloomberg and other media started running neck and neck with what they call the kimchi premium.

In addition, the percentage of items such as the drawdown, ripple, Neo, and lightskin all went down last week, falling by 20 to 30 percent to the lowest level in two months. Among them, economist Nuriel Rubini, who predicted the 2008 global financial crisis, told Bloomberg that " Bitcone is the biggest source of all cipher strengths and is the biggest bubble in human history. " This news clipping provides a summary of the big and small claims announced last week in a list format.

1. Block the bit-coining source of payment through credit cards and large global banks

Last Friday, global financial giants announced that they will block all cryptosyphone payment, including BitTone, from being made simultaneously. According to the Wall Street Journal, the three largest U.S. banks - Citigroup, JP Morgan Chase, Bank of America (BoA) and Lloyds - blocked out a coin purchase from their credit card base.

In an official statement yesterday, the Lloyd's group says it is worried that the hype over encrypted currency will burst into a bubble created by inexperienced speculators. In January, Capitol and Discover Financial in the United States banned the purchase of encrypted currency via credit cards, and American Express imposed a $ 200 per day, $ 1,000 per month limit.

1. Facebook, Cryptosystem, and ICO Advertisement Policy

The world's largest social media Facebook announced a new policy last month to block all ads related to Bitcone and Cryptocode. Product management manager Rob Riddon announced in an official blog, " recently the sale of pre-money (ICO) with fraudulent or false information and new, crypt-money financial products is widespread. "

Facebook says, " We're open to new technologies such as block chains and encrypted money, but we also want to prevent ' malicious players ' from benefiting from Facebook, " and added, " We want to protect users from being able to report voluntarily. " Nihongey expects to apply the same policy broadly to other advertising platforms besides Facebook, Google and Twitter.

1. CFTC : Submit subpoenas to Tether and Bit FINEX

Bloomberg quoted an anonymous source as saying that the U.S. Commodity Futures Exchange Commission (CFTC) issued two issues on December 6 last year : the Exchange Bit-FINEX and the USDT publisher Tether. The two companies are subsidiaries of parent company mohoesainex, based on the British Virgin Islands. This is only a week after Friedman LLC, who was in charge of Tedder's audit and inspection, unilaterally declared ending its contract with the tether company.

There have been rumors in the community recently that the tethers do not have a 1:1 exchangeable dollar and USDT, and were even used to pump the price of Bitcone out of a recent weakness. If the global mega-switched stock exchange, BeatFINEX, is defeated by this incident, it will have a much bigger ripple effect than the recently hacked coin checks in Japan. And if our money, worth 2.4 trillion won, fails to pay the 14th largest USDT, it would be three months bigger than the multI-stage Bitconnect Coin that was recently identified as the scam.

However, in a recent interview with Bloomberg, the tethers said, " We received legal proceedings regularly through investigation by law enforcement agencies and regulators. "

1. The Indian government : Cross-fill cipher actions...Display block chains

The Indian government is pressuring the market, including Bitcone, following China and Korea. According to Bloomberg News, Treasury Secretary Arun Jaitley on the first day called it " illegal to break " and called crypto-money activity " illegal " in Congress in New Delhi. " The government is actively seeking ways to use block-chain technology to lead the digital economy, " he said.

" This announcement is intimidating and panic among investors, " said the Delhi based coin security interview. India's attitude is confusing the market with its recent announcement that it " will provide incentives to attract developers from China. "