Regulatory Pressure Upsets Confidence – Tether and Neblio the Only Two Gaining
The crypto-market is suffering. The general price drop [up to 30% in the last 24-hours] for the leader BTC and following altcoins has come proportionally with the market uncertainty in Asia due to regulatory news and reports.
Data from CoinMarketCap reveals the extent of bear sentiment arising from the confused situation in Seoul and the news of additional trading sanctions from Beijing.
On Yesterdays ETHWNews writing about South Koreas movement towards Cryptos on how Korean authorities would likely stop short of an outright cryptocurrency exchange “shutdown,” but had introduced fines for users unwilling to use personal identification data on crypto exchanges in the country.
While at the same time, in the same bearish manner – China is planning out to expand the reach of its famous Sep 2017 Ban and give an end to BTC and altcoins trading.
Per time of writing, the most suffering are [out of the top ten by market capitalization] Ripple – which is close to the important $1.00 [$1.20] and Bitcoin Cash with 26.69 percent decline in the last 24-hours.
Reactions to the events show what has become a standard selection in the cryptocurrency sphere and beyond. Traders lick their wounds, pundits suggest the price correction is a ‘healthy’ one, while a flurry of mainstream media articles hints at the bursting of the cryptocurrency ‘bubble’ yet again.