Why Bitcoin dip today, just before the Segwit2X hard fork? Normally, a fork only rises the Bitcoin price.
And the price of SegWit2x in https://coinmarketcap.com/currencies/segwit2x/#markets also drops heavily.
And the price of SegWit2x in https://coinmarketcap.com/currencies/segwit2x/#markets also drops heavily.
There is a misunderstanding going around the community that because of the segwit2x the price dipped, it has nothing to do with the fork happening as this is not the real segwit2x but a clone. For most of you'll who are not aware, South Korea is mulling strict actions against Bitcoins and that's been another negative news for the crypto king, though there's lack of clarity what action shall take place, it was a blow as Korea is a booming market. Hence there was a fall, and the happening of the fork was just a coincidence.
They are not taking any actions against Bitcoin.
You probably should be the first to re-read the news.
They are not going after bitcoin. They want exchnges to comply with regulation, KYC laws and they want to prevent banks from playing around with crypto investments.
The first part is normal, the second one is what got some people confused.
Some said that banks will be banned to deal with anything related to crypto (including exchnges and transactions to exchnges) but in reality it's just a measure that prevents banks from investing in any form of crypto.
It's nothing new, in the past banks have been banned to buy bonds from certain countries or stocks from certain companies.
It's a measure of protection as most of the money invested comes from citizens of SK.
