Crypto Confidence

Hello Fellow Steemians,

So, the ride has begun for many of us. Markets are going nuts and crypto across the board is losing value. But there's seems to be more going on here than meets the eye.

In the last 24 hours the top 10 big daddies of crypto have posted losses near the 25% range at the upper end. Is the sky falling?

A quick google search on "korean cryptocurrency" will show the news that the Korean government is trying to regulate and crack down. Elsewhere in the world the Indian government is also trying to block payments from banks.

Looking at coinmarketcap.com, go to the "markets" tab next to the "charts" tab on any crypto page and you will see that the KRW (South Korean Won) exchanges are showing massive losses totalling several BILLION dollars.

Until the governments of the world can figure out what to do, I expect this type of volatility to continue and it should not be unexpected. What really is at issue here are the undocumented traders who are being purged from systems. I am sure many of you know that most exchanges do require solid ID verification and as more and more people start trading (and they will) I think that will buoy the purging effects that we are seeing in the last couple of days.

I hope that most of you out there have nothing to fear. I'm confident that things will bounce back. I believe in FINTECH and it is my belief in the positive aspects of FINTECH that lead me to become an investor myself.

So stay positive Steemians. The future is bright.

Peace!

Edit: One day later this article is published by Coindesk.

https://www.coindesk.com/three-possible-reasons-the-crypto-markets-tanked-this-week/