Topic: What the hell happened today in cryptocurrency? - page 6. (Read 585 times)

after 2nd week of april prices were rising and recovered marketcap , so now it was due for correction and little bit affect of Upbit and Mt Gox btc sell FUD .
so just be calm and wait for end of year to earn good profit on your investment .

This is information gotten today.
SOUTH Korea’s biggest cryptocurrency exchange Upbit, is under police investigation on suspicion of fraud. The Financial Supervisory Commission (FSC) reportedly sent investigators to Upbit’s Seoul offices and seized the company’s computer system to conduct an audit on the exchange’s virtual currency holdings. “UpBit is currently under investigation by prosecutors and is cooperating,” the exchange said in a notice to clients, with reassurances that services such as withdrawals and financial transactions were unaffected. Crypto commentators on social media suggest that many of the top 100 coins have dropped in the markets. Bitcoin was trading at an average of $8,750 (£6,449), falling around 7 per cent on the day. Ethereum had dropped almost 10 per cent, trading at an average of $690 (£506).
In March, the FSC and the Korean Financial Intelligence Unit (FoFIU) announced a joint investigation into crypto exchanges’ corporate accounts in Korean banks, over fears of anti-money laundering (AML) compliance concerns. The exchange hosted about $1.6 billion (£1.17bn) of cryptocurrency trades in the past 24 hours, making it the biggest in Korea. In April, CoinNest’s co-founder and chief executive Kim Ik-hwan was held on charges of embezzlement and fraud. He had allegedly moved “billions of won” in customers’ digital assets into their personal accounts. The rapid rise in the cryptocurrency market has concerned officials including Prime Minister Lee Nak-yon, who feared that the nation’s youth might be corrupted. Governments have been investigating allegations of excessive speculation and illegal activities such as money laundering. Trading prices have since fallen since authorities imposed restrictions.

https://www.express.co.uk/finance/city/958469/South-Korea-crypto-exchange-Upbit-raided-police/amp?__twitter_impression=true

Don't worry. Now there is a correction. Just be patient, cryptocurrencies can not only grow. If you keep the coins in the long run then come back here in 2 - 3 months and see how the market has grown.

Now the market of crypto currency is strengthening and growing with minimal corrections and if you are shocked with these movements then I can remind you that it was in early 2018 

Apart from the Korean investigation, executives in charge of refunding users of former Japanese exchange Mt.Gox have evidently sold a new chunk of about 8,000 BTC, which is quite a substantial amount to drive the crypto down.

Regardless of what caused this local fall, I see no reason to worry. If you will pay attention to every such fall, you will exhaust your nerves. Look at it one eye in half a turn and relax .

Right. It's due to this.
S. Korea’s Largest Crypto Exchange Upbit Investigated By Police, Markets React
I haven't heard anything related to thisYou should relax if the crypto market isn't doing well.

In general, they promised correction in late May. It is likely that this is it. In any case, I do not need to succumb to panic, I think

Some negative news on crypto has panicked the investors which resulted in such fall. But there is nothing to worry the cryptos will bounce back soon the way it bounced back during previous deep fall.

This is a special correction created before the conference in Los Angeles,so do not panic, everything will be agony, everything will fly into space later,and I think even 1 trillion dollars capitalization of cryptocurrency will break,so we wait after may 15, rapid growth,and hope that it will be longer)

If all have same understanding about the cryptos like you are doing there would not be any trouble on both the trading and holding the coins. When you want to invest your money any coins first we should check the regulations issue, price history, highest value so far and many times.
Then we should have the mentality like avoiding the panic selling like above some said. If you have all together we all in the forum enough to keep the marketplace with the good value but mostly no one do that.

Yes, I think it is related to this event. I think after it will follow the rapid growth of the market. it is necessary to prepare for this.

You seem to be new in crypto whilst this is common in crypto world sometimes up and sometimes down.I have been observing same environment in crypto for last three years but still i am doing trading i know this is temporary.Still i am holding my coins despite i am already in profit from coins,waiting for pump up period when prices would go higher then my expectations then i would sell.Dont be panic dude fluctuations common in crypto,always be optimistic and maintain your confidence.

I see the price started recovering back guys. There is no need to make the panic sell unwantedly. Please do concentrate on holding the crypto currencies mate. I see everyone go to sell the bitcoin and alts they have since they want to avoid the more loose on cryptos.
This 3rd time Korean news affecting the crypto currency market. Hope they comes with the better proposal on exchanges without bug on them.

I believe it's nothing but a small dip caused by the convinced fud of the upbit exchange and maybe the future expiring in this month. Nothing  to be scared off in the long term

I think what we experience now is a healthy correction and normal. Probably the whales took advantage of the negative news such as the Korean exchange being investigated, however, I see this as an opportunity as usually after Consensus the market experience some growth.

I will suggest you to keep calm because before a major event there always a drawdown happens no need to do panic. Keep your eyes on the market the price will rise soon. And I have heard that there was a problem with an exchange in Korea. I hope this will be solved as soon as possible.

Before major events there was always a drawdown.Local decline and, perhaps, a quick turnaround.On the eve of the Consensus.

I heard there was a problem with an exchange in Korea.
This has led to a panic in South Korea and a flood of tokens.

What the hell happened today in cryptocurrency, why is everything going down the drain?