Topic: [2018-1-16] Crypto Market Suffers From Uncertainty in Asia, Losses Up to 40% (Read 217 times)

Asian countries really has a big factor on crypto prices. We really need other huge countries on other continents to balance the dips or fud in these market so if there's bad news, there are good news on other parts to control these panicking noobs.

Yes, this fall, there are a lot of negative news in my country, plus the New Year approaching, many agencies to calculate the profit for one year, so a variety of factors caused the decline, but still a very good investor like me still holding the hands of btc and altcoins, because we all believe this is a long-term investment.

Theb has a point it's true that a situation affects a certain market however South Korea is also a contributor to the global market. What we have to take note of is that the current decline is not SOLELY based on the happenings in South Korea alone. As Theb said, the downfall of the market is due to the fact that investors are pulling out their money and as we all know Chinese New Year is a big event in Asia. As the Chinese New Year approaches, more people are preparing for this events and this may be a reason why the rates of Bitcoin are plummeting.

Aside from the fact that the the Chinese New year is coming which is just like the traditional Christmas holiday season and can mean that many are encashing their cryptos into fiat money, we are considering the sense of uncertainties around the Asian market. Uncertainties can breed fear and fear can breed selling and less buying. This is just a normal reaction to the many developments that can have effects on the market. What is so clear here is that cryptocurrency has become so tied with Asia and even if China has already made the decision to ban cryptocurrency last year it still continue its influence because there are still ongoing trading within China -- these people should instead transfer their business into Hong Kong. I am expecting things to calm down two weeks from now when the dust must have already settled in. And we have nothing to worry about because cryptocurrency is here to stay no matter what...we need people who are holding on to the faith and not just one of those who will run fast at the site of rising red tides.

The thing that investors pulling their market have some reason.  This includes the sanctions done by China and South Korea towards exchanges pressuring holders and with strategic scheme of the whales maximizing profit from the news, they can stage a dumping scenario which will definitely shaken those holders that have weaker hands.  I am afraid the trend of the previous 2014-2015 scenario might happen this year.. there is a huge possibility but then let us hope that cryptocurrency market rebound soon.

Not really. Bitcoin went indeed down at first, but that was mainly due to the fact that the peak was reached, and thus there was only one way to go, and that was down. It didn't had anything to do with regulatory pressure.

What happens then is money flowing out of Bitcoin straight into altcoins, which resulted in altcoins to get their moment of shine at cost of Bitcoin. What we have experienced today is a global downward move of everything.

And this downward movement could be the reason of regulatory pressure, or better said, potential regulatory pressure. This market takes everything for granted far too easily, which results in these selloffs.

Strange, I didn't lose anything, I still have just as many BTC as I did yesterday... 

I can't stand the mainstream media with their rubbish news coverage. It's like they have been waiting for this to happen all the time. At first they act like they are excited about how cryptos are developing, and then next start laughing hard when the market is going down. They talk about Bitcoin losing the game, while they completely ignore that current price is still 10 times higher than when we entered the last year. It shows that they are just looking to ride the crypto hype and make people feel bad for having bought themselves into Bitcoin or whatever other crypto currencies. It doesn't necessarily have to do with governments cracking down on crypto, but in media terms, it is far more interesting to use that as title....

But didn't it all start with Bitcoin going down first, even before New Year's Day? The regulatory pressure from China and South Korea has been building up only the last couple of days, but the price had already fallen something around 40% by the end of December. In fact, we have just slipped to December lows of $11,600 and a little below, though there seems to be plenty of solid support, which is good.

The only good thing aside from cheaper buying opportunities, is that there aren't those altcoin fanboys saying that Bitcoin is losing value due to this or that ~ the entire market has to swallow a pretty correction.

I don't know what the exact reason for all this is, but I don't expect it to last long. Once people start to realize how stupid it is to sell the market down, we'll see the price climb back up again.

That's why I am happy for buying at $11,500 today. The price may go down another 10% from this point, but I am confident in the $10,000 mark to keep its head up strong accross the major part of the exchanges.

I have a very hard time understanding what you're trying to say here. Right now our investments are worth less than they were, let's say a week ago, due to the recent crash. But that doesn't mean we have made a loss because our trade is still ongoing. Only when we pull the trigger and sell our investment for a price that's less than the price you bought it for you've made a negative trade.

So you do not have anything until you sell. I do not agree with that, you could have a loss without sell. The thing is what period of time you will account. If you will account for one year ago, nobody has a loss. From 2 months ago, nobody.

Can the Asian market make up almost 20% of the total market or are the majority just global speculators dumping coins,

because they are panicking? I think I might have underestimated the scope of Crypto currencies investments in these Asian

markets. Well, if this exercise is just to clean up their act, then so be it....Get it done, so that we can continue building. 

Agree. The market is too sensitive sometimes and Asia keeps scaring all of us with forbidding, cutting and regulation. I think all this is normal event, cryptos are still stabilizing as "money" and I believe the market will be shaked not one time more.

You have to sell in order to book a net loss so once again the title is unnecessarily sensationalized. Historically, bitcoin has preformed quite bad in the days after new years, leading to some rather big procentual crashes back in the day. So I don't really thing we've got something to worry about. 2018 has a lot of exciting things in-store for us so there's really point on thinking all of a sudden crypto is not going to work out.

Another unreliable news site well of course the news in South Korea banning all exchanges has been clarified a few days ago and still they are saying that South Korea has a big part in the correction. They must also add that their cryptocurrency market is separate from the global market, what its only contributing is misinformation of news. With the prices going down then for surely the reason will be because of investors pulling out their money from the market.

I believe it will all recover. This has happened before right after New Year's eve based on the Roman calendar. The peak price of Bitcoin in 2017 will be surpassed when long holidays are over especially so in Asia (in anticipation of the Chinese New Year). Based on the data I gathered, Bitcoin's price, in particular, will make revelations in the coming days as it is trying to correct the prices that have blossomed the past year. We just have to await and see. Sure it hit the lowest point today but remember this has happened in the past. If we stop believing, keep in mind how it was able to reach almost $20,000 last year when its value nosedived just a year ago? Keep an open mind, I tell you.

Bitcoin and altcoins lost up to 40% of their value the morning of Tuesday, Jan. 16, as regulatory pressure from China and South Korea appears to upset optimism.

Cross-exchange 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 Monday, Cointelegraph reported 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.

At the same time, China is looking to expand the scope of its September crypto exchange ban to “end” centralized trading for Bitcoin and altcoins in all forms, various sources now report.

As of press time, Bitcoin has lost almost 15% on the news, while the majority of major altcoin****ets fared considerably worse, dipping between 20% and 30%, some of the top 30 coins even seeing 40% losses.

Bitcoin Cash, which had seen significant price advances in the first part of January, has fallen below $2000. Ripple stood at $1.36 at press time - less than half of its Jan. 4 high over $3.

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.

The amount of money waiting to come in makes a prolonged bear market close to impossible. EVERYONE that matters is looking into crypto right now. And it is really everyone.

— Paul (@paul_btc) January 16, 2018
On the subject of future positivity, this week’s Wall Street bonus allocation, tipped to spark a mass influx of cash into cryptocurrency markets, comes at a time when the potential for short-term profit is all the more visible.

https://cointelegraph.com/news/crypto-market-suffers-from-uncertainty-in-asia-losses-up-to-40