This latest dip in the crypto markets was again caused by misinformation. A branch of the Korean government came out saying that a potential ban on cryptocurrency was being looked at. This lead to publications writing that the Korean government had banned crypto trading. This sent the market into a sharp sell off for absolutely no reason. It may or may not be banned in the future but currently nothing has changed with the exchanges in Korea. Volume today is at a tremendous high with bithumb still at the #2 volume by exchange. Seems like the Koreans aren't to concerned, at least currently.
What I take away from this event are a few different things. First, there are a ton of amateur investor in the space and when the selling starts they jump overboard like they just hit an iceberg. Second, news doesn't have to be accurate to move the markets, feels like a little "fake news" running things today. Third and maybe most important, there are going to be plenty of great opportunities to buy these coins on pullbacks so never chase the price up. Anything can move these markets even "fake news".
Load up before the next moon shot!