Topic: south korea is not banning bitcoin, but why the bitcoin price is still falling? (Read 493 times)

i think that is not the reason.India media spread a false news,bitcoin is illegal.so Indians and other countries who hold bitcoins sell their bag.because of that bitcoin going down.And also still rumors spreading about bitcoin is ban in south korea.people who don't do any research before following any news sold their bitcoins to smart buyers.i think bitcoin is rising little by little now

I suppose the bitcoin price keeps going down because a lot of people are holding panic bitcoins because of this very fast price drop then they sell all the bitcoins they have because of panic. they fear prices will continue to fall and cause a deeper loss

It is not just the south Korean government's policies that affect the price of bitcoin, but many other factors.
For example, in Russia, India and China, there is bad news about bitcoin. These factors seriously affect the price of bitcoin.

I think there are still many problems with bitcoin price drops, not just south korea which prohibits the transaction of bitcoin, india and china also prohibit the use of bitcoin. But in my opinion there is still a bit problem of bitcoin price reduction, one of them:
~ News spread all over the world.
The layman who does not understand well about bitcoin gets severely affected by various positive and negative news spread across the media.
~ A situation where more bitcoin traders than bitcoin users.
It is understandable that being a bitcoin user is a bit difficult because the trader receiving bitcoin is still small.

> south korea is not banning bitcoin
Coinpia, a South Korean exchange, has announced its decision to suspend depositing and trading at its exchange after it was unable to implement a KYC system as required by law. The government provided a tight deadline and expected all exchanges to be compliant by January 30th. However, for various reasons, this exchange could not do so: Exchange In South Korea Halts Crypto Trading Over KYC Concerns

Details of the Government Regulations
Since January 30th, the new government regulations have required banks to issue digital currency accounts to customers. That means exchanges will no longer be allowed to provide accounts to clients via their corporate accounts. This process was unregulated, and no verification took place. Thus, exchanges had no way of knowing who was a fake and who was real. Thus, their KYC policies were very weak.

Since the end of last month, everyone who owns a digital currency account has to verify his or her identity. This is achieved when an exchange collaborates with a bank. The bank is then tasked with the job of issuing these accounts. Some of the exchanges that have already done this include Bithumb, Korbit, and Coinone.

However, some banks are not so enthusiastic about this move. Some are not so willing to work with the digital exchanges. This is because they view the government as having a poor attitude towards them. For instance, the government recently threatened a complete ban on cryptocoin trading in South Korea.

Because except for South Korea, there are still many countries that prohibit bitcoin, and the recent volatility in investment markets are particularly large, so I think bitcoin fluctuations are normal.

The bad news around the BTC continues. Every day another message in the world that crypto currencies should be banned. People lose confidence and that is bad for the price.
A few weeks ago there was no stopping on the way up and now it goes in the other direction.
I think the BTC price has now reached its real market value and will not go down any further. You will see we have found the ground

I like when that Wolf of Walstreet guy was on Fox news saying "Bitcoin is a currency made up of lots of other currencys".  lol
Another guest said "why are you even here?  What do you know about investing?  The only reason you are famous is because you ripped a lot of people off!"

ha ha

This is an article from NOVEMBER 23, 2017 It was obviouslty made to stop people from investing 3 months ago, but everyone ignored it. It had completely no impact on the price that skyrocketed right after it was published. Do you know why? Because the article is dumb. It makes no sense and the author is proving to know nothing about Bitcoin.
For example
It was never made to be an anonymous currency, it was made to be independent and decentralized! All transactions are visible in the blockchain for a reason.

As always, it's just the market. 

Btc at 1 cent or at 100k a coin is a success.   It's not a failure or scam just because some people lose money investment wise.

Yes, it is one of the reason but there are many other negative thoughts about the market because bitcoin price increased a lot with in short period of time and in order to reach it's ATH it should consolidate before increasing it's price. This makes more panic about bitcoin and people are selling them in the market.

List of country banned BTC
https://www.fool.com/investing/2017/12/03/6-countries-where-bitcoin-is-banned.aspx


Reason why bitcoin fall

http://listverse.com/2017/11/23/10-reasons-why-bitcoin-will-fail/

That is not a sure news that it will go $50k.
But your taking about every new year bitcoins price getting low I support this talk.I saw the chart. But January month end, but still dumping, it's really worried us. At this time we should follow up the next month.

South Korea has nothing to do with bitcoin's drop. Nor India.

Bitcoin's price is correlated with the amount of new people coming into teh coin. That has dried up because the media keeps saying "bitcoin has lost half it's value", instead of "bitcoin's price is roughly where it was in October.

People don't buy when the price is falling, they don't see a bargain, they imagine it will go down further. They will only come back and buy when bitcoin re-establishes an upward trend.

Not only South Korea, but also other countries have recently announced the ban on bitcoin. Although none of these countries have promulgated a ban, the media will expand the coverage of the entire incident and will be banned even without the prohibition. This is a rumor that the dissemination of information has limitations, what is important is that the nature of bitcoin itself gives criminals the opportunity to commit crimes that affect the sovereignty of these countries, leading many countries to ban Bitcoin.

Personally, I think some countries in east Asia are preparing for the Spring Festival in China!

The Chinese will take the money out of the deal and prepare for the holiday!

I think the market will be better in March!

Now, the bitcoin market has become more fragile to market news as a result of the regulation policies and also under the effect of the futures market. However, we still need to have confidence as I don't think that the major countries will united with each other to regulate bitcoin and other cryptos as it is very hard for them to find a common interest for doing so.

Korea is not the major reason of the falling of bitcoin price. A lot of wrong information posted in social media why price of bitcoin drop. A lot newbie hodlers with enough knowledge  but hopefully price will back this month.


#Datarius

Some of this issues may really affect the current price of bitcoin. Tho I think that the current situation of South Korea towards bitcoin does not really affect too much of it's price. Yet more likely users now are starting to convert their amounts which then leads to sudden decrease of bitcoin's price. Of course they are more likely would have to take their profits.

Majority of the governments are discussing this technology because it is secured and easy to access in anywhere but few peoples are easily invest in illegal investment so south Korea decide to fix the taxes.
 But still many hacking issues are occur in cryptocurrency and Chinese festival also affected this crypto market. So don't confuse this problem it will recover in few more weeks.