RE: The Market Is Tanking Right Now, And For A Stupid Reason....

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The Market Is Tanking Right Now, And For A Stupid Reason....

in cryptocurrency •  7 years ago 

Thanks for this report.
What happened in the Korean exchanges???
Lol I woke up this morning like, whoa, how is everything tanking??
Considering going all into SP anyways..

cryptocurrency
7 years ago by

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      ·  7 years ago 

    Thanks. As far as I'm aware, nothing happened to those Korean exchanges themselves, but Coinmarketcap just decided to exclude the prices from those exchanges in the average price listing for tokens. I don't know if this was done for every single token, or just some of them.

    I've thought about putting a good amount of my holdings into SP, but i guess for me it wouldn't pay off in terms of Steemit earnings from posts for a very longs time. However, I can see doing that if I can get more subscribers.

    Maybe for you it would be worth it, but it's hard to say. However, if it were me I might just go like 50% Steem Power instead of everything. Thanks for commenting.

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      [-]
        ·  7 years ago 

      A plan to tax cryptocurrency was announced.

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        [-]
          ·  7 years ago 

        In the USA? But it's been taxable for years. Is there something in addition to that?

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          [-]
            ·  7 years ago 

          Not in the US. In South Korea, new regulations are being rolled out.

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            ·  7 years ago 

          Ah, okay. I do remember seeing something about regulations in Korea. Some people are also saying the drop was due to fears over China banning bitcoin mining. I'm not 100% sure if that's happened yet or not.

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            ·  7 years ago 

          Realistically the market is influenced by many factors, and uncertainty with regard to China has been a constant in my opinion ... whereas BTC and many other coins were due for a correction, and the South Korea situation may have tipped things in that direction this week.

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              ·  7 years ago 

            Thanks for the advice.- I only got 200 invested so aint too worried about it.

            You're welcome - I am glad to see your article.

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