Coinmarketcap Excludes South Korean Exchanges, Market "Seems" To Dip
In a somehow anticipated move, Coinmarketcp excluded South Korean exchanges from the average price calculations it displays.
As you can see, prices in South Korea are significantly higher than in other exchanges, in case of Bitcoin with almost 50% higher.
As a result, tokens which are heavily traded in South Korean exchanges may seem like they have received a hit, whereas what's happening is that the South Korean exchange prices are simply excluded from calculations.
I'm not sure what I can make out of this news. On one side, it's true that we've seen this before: for years the Bitcoin price was manipulated by Chinese exchanges, driving the markets nuts. On the other side, transparency and decentralization means that every player should have a spot at the table.
Thoughts?
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They have actually been doing this for a little while now. My main exchange is Korbit and they are almost always excluded as an outlier. Been trying to take advantage of the arbitrage for months, but all the coins usually remain within a few percent of each other. Gotta make money any way possible
I didn't see it until now, and I look daily. Anyway, it's interesting...
Usually bithumb makes it into the list, just a bunch of korbit coins dont. I realized this a while abck when I was trying to find korbit pairings and couldnt. Also, a handy little solution for this if the exchange is marked as an outlier, click on markets and the ctrl + F to search for the exchange, instead of trying to scroll and find it
Some effort to reduce arbitrage I think.
This may be part of the reason, all exchanges frown against arbitrary trade. Though it might not be the major reason.
in my opinion cmc should reflect all trades in the world or communicate the exact reason for this move. when i check cmc then i want to see the reality not a distorted alternative...
This could be what's led to some panic selling? I've noticed the overall marketcap is below $700 billion I thought, so is this due to that?
I've seen one post today screencap the "drop" in Ripple price claiming it's done so because of the coinbase news, but it looked like it happened today or yesterday, so I'm assuming it's due to the removal of these prices?
Maybe someone on Coinmarket cap hoping to crash the market or do what they think is in the best interest of their platform who knows?
how do you think or your prediction about bitcoin price in 2018 whether it will be increasing or going down.
I just want to survey some people's opinion
everything in red right now even john macfee pump up tweets don't working
That is very interesting they have done that. Maybe they think that this will cause prices to get bid up more by including those prices? Or maybe they have something that doesn't include an exchange if it is more than X% of the weighted average price?
For some reason, the Asian market will invest so much in cryptocurrencies. Now, even if they buy us expensive for us, they can be direct since they do not think in the short term. the future is apparently cryptocurrencies and we are still in time to get on the train.Regards @dragosroua.
I still don't grasp what's the logic behind this exclusion.