Let’s start with the bad side of the Coincheck exchange hack. The bad thing is -tighten your belts....................- steemians I will say it: COINCHECK WAS HACKED and that’s it.
Bad news:
1- Hacks will never end. Always there will be hacks. 2- Regulations may work for the favour of the sceptical governments which will meet as the Group of Twenty (G20) in Buenos Aires (Argentina). Because with this hack, the fear is high and regulations may result of this fear which is not good for the crypto community.
Good news:
1- Indeed, that much money was hacked. As big as it may seem, the ratio of this amount to the total market cap is not drastic. Compared to the hack of Mt. Gox where the company lost 4,100 bitcoins, worth over $1m at the time, this won’t break the crypto market.
2- The price may drop down as with every lack of supply of a currency or a withdrawal (a hack eventually), the prices may go down.
The future:
The future is unpredictable. Own your coins and don’t leave them on the exchanges. Have your wallet. It is just not safe to leave them on the exchanges.
Finally, there are some movements in the crypto market cap as rises and falls, valleys and hills which follows patterns BUT, some of them are intentional moves which serve and support the intents of the strongest in the market in an attempt to own the majority of the money. This is similar to the idea: “10% of the population of the world owns 90% of the wealth”.
I am going to share detailed but easy to understand articles about the crypto market and the underneath of it, which is important to push the awareness of our community.
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If you have any question please leave a comment and I will do my best to answer :)