Last night crypto currencies experienced a downfall somewhere from 5 - 20% to some currencies. What is creating this fall?
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CoinMarketCap excluded some Korean exchanges in price calculations due to the extreme divergence in prices from the rest of the world & limited arbitrage opportunity. They are working on better tools to provide users with the averages that are most relevant to them.
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That is true. But I thought that Korea going out of the market made the first dip. Thia one is couse of the minister of Korea as I understood.
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The fall is from 2 things: Local South Korean crypto exchanges were raided by police and tax officials
AND
The South Korean Justice Minister apparently said he's planning to ban cryptocurrency trading.
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But I thought that these events made the first dump in market? Thanks for the answer. Helps to think about it a bit more clearly!
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The first dump was because Coinmarketcap removed some South Korean exchanges with diverging prices. Also to do with South Korea, but different events.
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