Back to the list

Crypto markets falling down

Biggest cryptocurrencies are now falling down, as witnessed on Coinmarketcap. For instance, Bitcoin has fallen by 11% in 24 hours, and Cardano - by 20%. The whole top hundred of most capitalized cryptocurrencies is in decline, with a notable exception - for some reason, BitConnect managed to achieve gains when every other currency lost in price. NEO has increased by almost 1%, but this is almost no change at all.

The reason of this big downfall might be either South Korea or China. In South Korea, the local Justice Minister said the government might consider banning cryptocurrency exchanges, but then the government decided to downplay the statement. And in China, as Bitnewstoday has already described, the Vice Governor of the local Central Bank made it clear that it’s better to prohibit local centralized cryptocurrency trades and even make the miners’ business much more difficult. He said all this last week, but this became known only recently, when the correspondents of one of the major media outlets have acquired the copy of the memo describing the meeting.

There is no certainty in how long this fall is going to last or what might serve as a catalyst for the price regain, but the fall is notable in comparison to previous ones in the way that almost no major cryptocurrency stays out of it.

Back to the list