East Asia Talks made a huge dip today in the crypto market
After this shit happens... I just need a break
Today has been another black day for crypto world economy, (¿but hey this it is what it takes to going up again right?), when the whole top 16 cryptocurrencies are facing red numbers right now and it is just an example of how powerful and important is the Asian market to the cryptocurrency world.
Right now, government agencies from China, Japan and South Korea are taking major talks to improve the regulatory framework to cryptocurriencies, with South Korea now publicly admitting is investigating at least 6 banks in its jurisdiction regarding crypto-assets' and management with many banking accounts related to that activity. CCN, the Crypto News hub, has expressed the three countries are met right now discussing the future of this phenomenon in a regional and global scale as well. (Additional info found it here: https://www.ccn.com/korea-china-japan-swapping-ideas-cryptocurrency-regulation/ and https://www.ccn.com/bitcoin-price-rally-grinds-to-a-halt-as-korea-inspects-bitcoin-exchange-bank-accounts/).
But should we scare off and just run away from cryptoworld?, i'd prefer to say no, because this is one of the most important steps are executing governments worldwide to embrace the digital economy and all technologies embedded. This time must be look like an important year in cryptoworld economy rather than the catastrophe, if the public sphere accepts in an official way the cryptocurrency it might be an important step through real financial liberalization. Again, risks of being used like a control tool for states will increase, but right now the use of Smart Contracts is being widely accepted for the markets right now, like CNN says:
While bitcoin and other top cryptocurrencies fell, the ethereum price fought against the current to post a two percent gain. That’s not to say the pullback did not deal ethereum a severe blow. Earlier in the day, the ethereum price had soared above $1,200 on Bitfinex to post a new all-time high, but it has since declined to $1,128.
(More info visit the news link: https://www.ccn.com/ethereum-price-swims-tide-top-coins-retreat/)
Actually, right now (10:04 GMT-05 Hrs) the price has plunged a little above 1,000 USD but still is a remarkable all-time-high period in one of the worst days in the markets and Ethereum has momentarily been in second post around crypto world... Another Top 100 Coins who are in green numbers are Stratis, Tether, ICON as you can check in CoinMarketCap. But just 10 out 100 (10%) right now are in green numbers in which may be seen as a transitional state through massive adoption of the coins worlwide, in my personal analysis and opinion.
Huge dip for everything, seems the Winter's Sales is finally arriving? LOL!!
Some Graphics
Top 10 Chart (10:00 am 08-01-2017)
Steem Chart (Tether the only green)
Ps: Steem is currently rating above 6 USD and SBD at 7,94 USD ... way different than this morning below 6 and 7 respectively... And all this CoinmarketCap fiasco with excluding Korean exchanges in the overall adjustment is being clarified by the media (more info here https://www.ccn.com/as-market-sees-hard-correction-overnight-community-points-to-coin-market-cap/)
It depends upon what feelings the Asian meetup (an its further steps) inspires to the markets in mid-term to see how the global adoption of the cryptocurrency will be. A bigger were not likely to happen today but my Bandwidth limit got stalled and had to post later... And later the markets just revamp up a little bit.
Take care y'all
