Slaughter On The Markets

Crypto Prices Drop Amid Regulatory Fears

Goodmorning world of STEEM! If you haven't noticed, the crypto-market looks like an absolute blood bath today. Most of the top 20 coins listed on coinmarketcap.com are seeing a decrease of between 15-20% of their value in the last 24 hours.

Top 20 Coins on https://coinmarketcap.com/

Bitcoin is sitting around $12,000 at the time of writing and could continue dropping further. Ethereum is still above $1,100 which is rather impressive in my opinion. The price of our beloved STEEM token took roughly a 25% hit and sits at $4.40 (still pretty awesome considering we came from $1 not too long ago!).

The apparent cause for the sea of red is a recent string of regulatory announcements coming from Asia. Today we are waking up to many mainstream news articles claiming the People's Bank of China (PBoC) is calling for a wider ban on Chinese crypto-trading. Recently we have been getting news that South Korean officials are looking to tighten their grasp on the crypto-industry.

One thing is for certain, this is not the first time we are seeing a major degression following Asian FUD news. Keep your hands strong during these times and consider adding to your positions. Throughout history we have seen regulatory news drop the price many times, but with time it always seems to find it's way to a higher point. Stay patient my friends.

Only 2 Things You Can Do....

HODL & ACCUMULATE!

Thanks For Reading!