- The drop in the digital currency markets this week, and continued downward spiral to this morning, where the movement of the digital currency market for less than 500 billion dollars, and the price of Betquin to $ 9,683 on Bitfinex to be the first time to drop the Betcoin for $ 10,000 Since 1 December.
At the moment, Betcairn is trading at $ 9,683, with a market cap of $ 170.9 billion, representing a 22% daily drop and an annual drop of more than 28%. Betcairn is still trading at a high of 10,389 $ On the GDAX, a digital currency trading platform run by Coinbase, but the price of the leading Betquin is less than $ 10,000 on OKEx and Binance.
New investors face first major correction
There are several factors that could contribute to the correction this week, with China and South Korea signaling a tougher stance on the local digital currency trade. China plans to prevent residents from accessing foreign exchanges and South Korea limits the ability of retail investors.
This week it was reported that the South Korean army prevented soldiers from accessing digital currency exchanges when they were stationed at military bases. At the same time, the Justice Department has sought to ban digital currency exchanges clearly, although the government later eased those concerns, but it is doubtful that these developments alone would cause such widespread disruption in global markets. The ShapeShift CEO said that there is not necessarily a "reason" for the decline and rise of markets, suggesting that it may be futile to look for a final cause because markets are built on complex systems with emerging characteristics. The real reason is a series of individual events, It can not be determined by anyone.