Bithumb is the largest Korean based crypto exchange and they announced to ban crypto trading in 11 countries.

Hi Everyone,

Bitcoin is again down, as i discussed previously in my another post that we may see bitcoin dump again and may we see bitcoin near its $6800 support.

Why market is down ? The reason is bitcoin. But why bitcoin is down, bitcoin goes down by 2 main reasons, according to me.

1. Correction

2. Fuds

Many times fuds creates panic in market and people starts selling their investment. What is FUD ? The word or crypto currency term "FUD" stands for Fear, Uncertainty, Doubts. It creates fear of losing funds, uncertain market and many doubts in the mind of traders and this cause panic sell in the market.

Currently Bitcoin is trading near $8200. Which is so low and the reason is correction and FUD. Today i am going to talk about FUD in the market.

The Korean largest crypto currency exchange Announced that they are going to block trading in 11 country. Why ? They said, their aim is to prevent money laundering by using there system. They have also updated their policies. So every users have to undergo a strict verification process.

They are blocking trading in Non-Cooperative Countries and Territories ( NCCT ). The NCCT countries are picked by ( FATP ) inter-governmental Financial Action Task Force.

Those 11 country includes North Korea, Iran, Iraq, Syria, Sri lanka, Bosnia and Herzegovina, Vanuatu and Yemen, Tunisia, Trinidad and Tobago, Ethiopia, Serbia. Source.

The announcement took effect on 27 may. Bithump is longer accepting new users from these 11 nations and existing users account will be disabled from june 21.

Transfer or withdraw your funds from Bithumb if you belongs to above 11 nations. Bithumb is the largest korean and word fifth largest crypto exchange with $400M trade in 24 hour, as per record of Coin Market Cap.

Lets take a quick look at the top 15 coins of the market.

We can see the blood, I am watching bitcoin to cross $7100 and go below If this happen then i will exit with my mid term investments. Long terms are for long run and short terms are news based so they have very less impact from this fall. Don't forget to put stop loss on your trades.

I hope this news and update helps you. If you liked it then Re-steem it to your followers.

Please do not take it as a financial advise. THIS IS NOT A BUY REQUEST. It is just my analysis,opinion and result of readings. So before investing in any Crypto currency, do your own research first. I will not be responsible for any losses

Thanks for reading...

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