I don't know the answer on whether it was coordinated, but something does not smell right. If we look at the news from yesterday I wonder if global financial and government entities are trying to break the back of cryptos. The reality is cryptos are a major threat to global financial institutions, and these intities will not simply give up without a fight.
Here is a recap of the news from yesterday 1/16/18:
Chair of EU Securities came out and told the public to "be prepared to lose all your money". https://www.express.co.uk/finance/city/905344/Bitcoin-price-news-cryptocurrency-latest-Ripple-ethereum-ESMA
South Korean Financial Minister said shutting down crypto currency exchanges is still an option.
Germany Central Bank suggested "international cooperation" to regulate cryptos. https://cointelegraph.com/news/german-central-bank-director-crypto-regulations-must-be-international
PBOC senior official calls for wider ban on Chinese crypto trading.
Bitconnect Ponzi finally pops
Again, this is speculation, but interesting the amount of events in a short period of time. I will say none are necessarily surprising, but the timing is interesting.
Bitconnect shutting down played a large part
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Agreed. Thanks for the vote
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