CMC just tumbled the whole market with one move by excluding Korean exchanges from price calculations

in #bitcoin7 years ago

Few hours ago Coin Market Cap removed Korean exchanges from their coin price calculations and being that all coins are about 30% pricier over there, it instantly tanked the price on CMC graphs. From what I see this is happening now :

1: CMC removed Korean exchanges
2: Prices/graphs instantly tanked (but in practice not relevant to people outside Korea who dont trade there anyhow)
3: Large number of people did not recognize what actually happened and that there were not moves/selling on their western exchanges
4: Those same people are now dumping large amount of coins trying to "cut loses" because of the false impression that coin is crashing.
5: bitcoindumpe.pngRandom stuff happening
My opinion is that this should have been handled much better by CMC. At least put a banner saying "WE HAVE EXCLUDED KOREAN EXCHANGES BECAUSE OF THIS OR THAT AND IT WILL HAVE SUCH INFLUENCE ON CALCULATIONS". I just hope they do not put back and remove those exchanges at random point in time.

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