Happened yesterday?
Yesterday, the entire market suffered losses. There are few digital currencies that did not show significant losses, as much as to count them with the fingers of one hand.
Bitcoin came to collapse at the margin of USD 11,000 per unit. Ethereum, Ripple and Bitcoin Cash show declines of 16, 25 and 26 percent, now marking quotes of:
Ether: 1,069 USD
Ripple: 1.2 USD
Bitcoin Cash: 1,789 USD
The cryptodolar, or Tether, as an official name, is one of the few assets that did not suffer losses, in fact, despite the global downturn in the market, this asset is trading 1.04USD, when it is normally kept closed at 1 dollar.
The trends indicate that these losses are due to the regulatory scrutiny in South Korea, which although it has been ceasing, has caused mistrust in the sector, and this is the key piece in the ecosystem, because there is the support of the cryptoactive.
Bitcoin came to collapse at the margin of USD 11,000 per unit. Ethereum, Ripple and Bitcoin Cash show declines of 16, 25 and 26 percent, now marking quotes of:
Ether: 1,069 USD
Ripple: 1.2 USD
Bitcoin Cash: 1,789 USD
The cryptodolar, or Tether, as an official name, is one of the few assets that did not suffer losses, in fact, despite the global downturn in the market, this asset is trading 1.04USD, when it is normally kept closed at 1 dollar.
The trends indicate that these losses are due to the regulatory scrutiny in South Korea, which although it has been ceasing, has caused mistrust in the sector, and this is the key piece in the ecosystem, because there is the support of the cryptoactive.
Mati Greenspan, an analyst at the eToro trading platform, said the falling volumes of Japan and South Korea appeared to be behind the sell-off this Tuesday morning.
Encryption prices in these markets usually have a premium, which raises average prices worldwide. Merchants in these Asian markets are generally also buyers, which means that a limited activity could create a great mismatch between buyers and sellers.
"Volumes have been steadily declining in both Japan and South Korea in recent days," Greenspan told Business Insider. "This morning, the combined volume of these two main countries with trade in cryptos fell below 30%. It seems that they are tired of overpaying for digital currencies and prefer to wait for the market to equalize. "
Another explanation is the setup of the futures market shoot BTC way up from 5000 to 20000 to create a stir so that the banksters can crash it back down. It was all part of a plot of the banksters to take pricing power from the exchanges to the futures market.