GOOD AFTERNOON STEEMIT!
For the sake of your mental health, don’t look if you haven’t yet, because cryptocurrency markets are a sea of red today.
This is on the back of RUMOURED news out of South Korea. Well not only rumoured news from a minister, but also TRANSLATED, rumoured news.
Take a look at the CNBC article regarding the news here: Bitcoin falls 9% as one of the world's biggest cryptocurrency markets readies a bill to ban trading:
South Korea's justice minister said on Thursday that a bill is being prepared to ban all cryptocurrency trading in the country.
Seriously, what could go wrong here? 😂
But Bitcoin is still getting smashed:
BTC/USD Daily
Now check out this part:
According to industry website CryptoCompare, more than 10 percent of ethereum is traded against the South Korean won — the second largest concentration in terms of fiat currencies behind the dollar. Meanwhile, 5 percent of all bitcoin are traded against the won.
So Bitcoin is down over 10% on the news, but South Korea accounts for just 5% of volume? Can you say fear, uncertainty and doubt?
BTMFD!
Now remember I was asking whether you miss the Ripple breakout? and saying that you’ll get a panic spike pullback to get in at good technical levels? Check out the updated daily today:
XRP/USD Daily
There are opportunities coming. Be ready to take advantage of them.
Peace.
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