On 16 January, we have witnessed Crypto Market Crash with Bitcoin and Altcoin dropping up to 40% of their value. Besides, Bitcoin has lost 15% from $20,000 last month. Scroll down for more details!

Crypto Market Suffers From Uncertainty in Asia, Crypto Market Crash Losses Up to 40%

Because of the regulatory pressure from China and South Korea, cryptocurrency is losing their value up to 40%. According to CoinMarketCap, the reasons for this drop arises from the complicated situation in Seoul, South Korea and the news of additional trading sanctions from Beijing, China. Korean might shut down digital currency exchanges and ban opening anonymous virtual currency accounts.

At the same time, China is also taking their action. This country is about to ban centralized trading for Bitcoin and Altcoins in any methods. On the news, Bitcoin lost almost 15% of their value. On the other hand, other major coins also follow the same path: decreasing significantly between 20% and 30%, or even up to 40%. The regulations seem to have a bad impact on the whole crypto market.

Not only Bitcoin and Altcoins, Bitcoin cash also falls below $2000. Previously, Bitcoin cash was expected to gain considerable price in the first quarter of 2018. At the moment, investors in Korea and China – the 2 largest digital currency trading countries, are waiting for the clarifications of the regulations before they place any bets on the virtual market. Furthermore, we also witness the collapse of the BitConnect, which leaves the investors in the pool of tears.

Cryptocurrency future: Positive or negative

This week, Bitcoin and other digital currencies crashes are due to the fraud and new regulation from 2 largest trading nations: China and Korea. Although Bitcoins are going wild, some analyst claims that this currency can survive upheaval. Are you trading any kinds of cryptocurrency? Share with us your ideas and stay tuned for the most updated information from us!