The causes of the new correction in cryptocurrency: the ripple and the bitcoin are shipwrecked because of China and South Korea

The causes of the new correction in cryptocurrency: the ripple and the bitcoin are shipwrecked Because of China and South Korea

The most important buyer market, CoinmarketCap eliminates three platforms Korean exchange index which measures the price of the criptodivisas.

China’s threats to ban the mining of criptomonedas added downward pressure to criptoactivos. Ethereum co – founder warns that the market will suffer a crash before a major consolidation.

Cryptographic market currencies has been dragged through a major correction on Monday that still keeps most of virtual assets dyed bright red. Total capitalization which measures CoinMarketCap has also fallen dramatically and has reached more than 100,000 lose millions of dollars in a few hours He recovered to 740,000 million- while the bitcoin yields over 6% and seeks to stabilize around of $ 15,000. Queen encryption currency maintains its market share of 34% minimum.

Ether, meanwhile, moves away from recent record above $ 1,200 and falls 3%, while the ripple continues its brutal decline since the milestone last week at $ 3.61 and over 140,000 million capitalization and falls 13%. Its price is $ 2.35. Photo provided by the buyer reference teaches many operators falls between 3% and 9% in the major currencies by market capitalization.

This bleak picture has its origins in two events that have concur in recent days. The most important technical factor, applied precisely CoinMarketCap, which triggered panic among investors. The buyer has decided, without notice, remove platforms Korean exchange contemplated in the aggregate market price, causing a deep slump in the prices of your page that are considered the most accurate on the market.

The website shows the evolution of prices of more than 1,300 tokens in real time and is among the 200 most popular websites in the world, as ranked by Alexa, a position it has achieved in just a few months and also your traffic it has soared 2,500% in one year. Thus, the exclusion of the three exchange houses South Korea, Bithumb, Coinone and Korbit, your meter, showing variations in prices of 30%, has sown confusion among operated and triggered a wave of sales . “Dismissing these exchanges, the graphics have reflected a drop in prices of 30% and the immediate reaction has been to sell criptomonedas” said Reuters a spokesman for the BitMex platform.


What has shocked CoinMarketCap’s decision was that the change has not notified or given explanations after PROCEED with what negative effect on the market has increased the unexpected decision. Of course, not even the experts consulted by Bolsamania could foresee, among the risk factors for this 2018, that a change in a website that monitors asset prices encryption result in a deeper correction.

“If anything shows the panic unleashed by this factor is that the market is now pasture speculators and that really is a bubble waiting to burst any negative news,” said a trader at criptodivisas to this medium. In fact, the bearish sentiment had prevailed in the market since the weekend and on Monday the bitcoin had corrected its price $ 2,000 after recovering to 17,000.

The news that the monetary authorities of South Korea are investigating six local banks offer accounts in criptomonedas, had already begun selling digital tokens, except ethereum, who left Monday a new milestone. In addition, a new wave of bans on activity in this burgeoning market threatens mining in China.


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