January 17, 2018, at the time of writing this blog, price of every coins starting from the father coin(BTC) to feather coin (FTC) is DOWN ranging from the Neblio to BitConnect as lowest loser to highest loser among the top 100 coin by marketcap as per coinmarketcap.com.
REASON
1. BITCONNECT
Whenever there is a huge price movement in the market it is attributed to one particular reason. In this case it is imperative to consider that already falling cryptomarket blew a selling sentiment among its weak and some strong enthusiast as fear of closure of other exchanges in the wake of shutdown of a leading coin exchange Bitconnect.com spread like a forestfire, the epicentre being the very own currency of BitConnect.com the BitConnect (BCC) which dropped by -96.58%.
2. CHINA
The news of China considering a blanket ban on mining of cryptocurrency, which in my opinion is a welcome step to curb environmental impact of mining bitcoin, also can be attributed to panic selling of Bitcoin, the father currency, which dragged all his children, nephew and niece coins. Growing wealth for Few at the Expense of Health for All is of use to no one especially when the victims are even those who have got nothing to gain but everything to lose.
3. SOUTH KOREA
South Korea, the flag-bearer of crypto-currencies after Japan, when considers down regulating cryptocurrencies, it is quite obvious for the enthusiasts to panic-sell and convert their fortune gains to their local fiat before breaking-even or in worst possible scenario registering a net loss incase any other exchange is shut down.
4. JANUARY
For the past three years January has been considered a month of buying crypto-currencies. So why worry ? The big fish has shredded a few little coins of their shoulders just to make sure that small one can grab some and have a wonderful year 2018. You may call it an effort by the biggies for financial inclusion.
CONCLUSION
Blockchain technology is one of the finest invention of this decade. It will be used in every aspect of the human life. Those who believe in this fact are not going to move away from the little shaking of these lustrous coins.
“first they ignore you, then they laugh at you, then they fight you, then you win” ... Mahatma gandhi
#BelieveMeBlockchainIsTheFuture
