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
But the worst thing is that all these news come out after the fall, I think that serious players just speculate on this and all these news have almost no effect on situation in market 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