The Crypto market is seeing big losses following news in Asia.
At the end of 2017 we stated on multiple occasions that the biggest threat to the Crypto market in 2018 would come from governments seeking to introduce more regulation.
Over the past couple of weeks there have been reports that South Korea are to ban Crypto trading. We stated that we did not believe this would happen. We still stand by that stance, and believe that it is more likely for regulation to be introduced which will mean that exchanges cannot buy or sell Cryptos without carrying out proper checks on their customers.
There have also been reports that China are set to introduce further regulation on the trading of Cryptos, with possible bans on ‘centralised trading.’ Whilst it is not clear how China plan to implement further regulations, it appears that the news coinciding with the events in South Korea has caused panic in the Crypto market, with many selling as they fear bans may come into place.
Bitcoin fell by over 20% today alone, whilst almost every single Crypto in the top 100 spent the day bearish, with the majority seeing prices fall by over 20%.
We are however expecting a recovery to take place soon, and for the panic to end. We would not be surprised to see a big climb very shortly (as has happened on various occasions in the Crypto market).
Subscribe for free by entering your email address below in order to receive new post updates. You can always unsubscribe with one click, if you don’t like us anymore! If you have Instagram or Twitter then why not follow us, our handle for both is ‘@enterthecrypto.’
Receive $10 worth of free Bitcoin when you click the following link to sign up to Coinbase and buy $100 or more worth of Bitcoin.
Click here if you are looking for places to purchase Cryptocurrency.
We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.