Today the cryptocurrency market awoke "dyed red". The main hundred cryptocurrencies are in decline, almost all of 20% or more. Only Tether had a slight growth of 0.27% and a number of operations close to USD $ 4 billion in the last 24 hours, which indicates that many are sheltering their money in this digital currency that has been promoted for having a price equivalent to 1 US dollar.
Bitcoin has its worst price this month and the lowest since December 5. Now, when it is 7:20 am in New York, its price is USD $ 12,365.90, 11.68% less than yesterday at the same time. However, a couple of hours ago, the currency fell even below USD $ 12,000, reaching USD $ 11,442. The number of operations exceeds USD $ 15 billion in the last 24 hours.
Other currencies with significant decreases are Ethereum which fell by 16.22%, Ripple by 23.03%, Bitcoin Cash by 17.51%, Cardano by 21.89%, Litecoin by 14.50%, NEM by 18.42% , Dash at 20.99% and Tron at 21.78%.
Reasons
Now, to what is the fall due? According to some analysts, it has a lot to do with the regulations imposed in South Korea, since it is reflected in the transactions made with each of these currencies that the volumes of operations have been reduced in the South Korean exchanges, although in them the price of the Cryptocurrency is still higher than in the rest of the world: USD $ 15,000 approximately. However, as CoinMarketCap took the measure to exclude the prices of South Korean exchanges in the calculation of global average prices, and these high prices have no impact on the value in the rest of the world, as they are not part of the global average that serves of reference for negotiations.
On the other hand, according to some portals, such as Cryptocoinsnews, the fall is due to a correction in prices.