A little headfake and people go into panic mode. I think the only explanation here is a very immature crypto currency crowd. Lots of young and inexperienced investors and non-hodlers who sell in panic on basically any news.
The whole thing today started with some people claiming Ripple was being bashed by Coinmarketcap. Which of course was utter bullshit. ALL cryptos had their Bithumb exchange trading halted on coinmarketcap. Or, rather Coinmarketcap excluded ALL three Korean exchanges from their averages.. "due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity"
This morning we excluded some Korean exchanges in price caluclations due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity. We are working on better tools to provide users with the averages that are most relevant to them.
That unannounced move sparked confusion since prices seemed to be down..and people who did not do their research sold into what they believed was a correction.
As you can see with for instance Bitcoin cash. A part of its price was removed, the price dropped sharply as it seems, and as you can see people sold later on due to fear.
This is in other words just a correction in faulty data. Nothing has changed. Please get back into your seats and put your seatbelts on. Jupiter, here we cuuuum!
