Why all crypto currencies going down?

All are expecting high returns and good profits in crypto currencies but since last few days all are going down and down. Bitcoin, Ethereum, Ripple, Neo, MIOTA, Steem, LiteCoin etc. all are going down. If you are keeping eye on them you may notice the big downfall and all might be curious why this thing happening? Why all the crypto going down? What could be the reason?

One major reason is said to be the South Korean Government. They are looking to pass one bill to restrict the use of Bitcoin and will affect in a big manner.

It is yet not finalized by the South Korea and will looking to pass the bill, until they pass the bill it will keep going and if bill is passed will be huge downfall.

senior official Jung Ki-joon said: “We will respond strongly to cryptocurrency speculation and illegal acts, but we will provide support to research and development relating to blockchain technology.

“The proposed shutdown of exchanges that the justice minister mentioned recently is one of the measures suggested by the justice ministry to curb speculation.”

Cryptocurrency trading in South Korea is highly speculative, more so than the rest of the world, at times trading with 30 to 40 percent premiums.

Crypto tokens were plunged into another crash last week when crypto tracker CoinMarketCap decided to pull Korean exchanges from its valuations. The move saw Ripple’s XRP token fall up to 30 percent.

China has already applied the ban and Russia is looking for the same.

Now big question is, if all countries start applying ban the crypto currency will it be legal ever?
How crypto can be the future currencies in this way?

Current graph of the crypto currency. As you can see all are going down in very similar manner.