As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.
It is said that the US Securities and Exchange Commission (SEC) announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.
To explain this a bit more, take a look at this video that easily explains what exactly happened this week
https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/Feel free to comment as well
If anything will happen wrong then surely those services should be suspend by the government authorities , so I don't think these will give any big impact over the market of the cryptocurrency at all because in that way everything will be safe ( transparency ) .
But in my opinion the most big factor that I think will be the reason of the dump of the price is the hack of the binance , and I think In actual not was any fault of the binance regarding this thing but there was like mistake by the users ( I read about it in an article where it was mentioned that it was fault of the super only ) .
So we'll whatever happened , people just get into fear and go for the sell of Thier altcoins to make Thierself sure that there is nothing risky think .