Good news from South Korea for Cryptocurrency & Bad news for Haters

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In my post yesterday titled "Market correction & the resilient Cryptocurrency Market" see post here , I highlighted on the reasons why the current downward trend in cryptocurrency is happening and the ray of hope from the chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo where during the Senate hearing in his own remarks he asserted that;

“We owe it to this new generation to respect their enthusiasm for virtual currencies, with a thoughtful and balance response, and not a dismissive one,”

see my post for more details

This very news went contrary to the expectations of haters of cryptocurrency which includes big cooperation's like Facebook, banks and governments was a relief to the already battered market and crypto lovers like us.

More recently, Kevin Helms update in Bitcoin news titled "Korean Prime Minister: Closing Down Crypto Exchanges ‘Not a Serious Consideration" shows that there is better times ahead as outlined below;

South Korea’s prime minister, Lee Nak-yeon, responded to questions from opposition parties on Tuesday regarding the government’s policies on cryptocurrencies at the National Assembly meeting, local media report.
“There has been a harsh criticism of the government for the confusion between the ministries around the virtual currency regulation direction,” Dailian reported. During the session, Lee was quoted by the Kyunghyang Shinmun saying:
Quote
The closing of [cryptocurrency] exchanges is not a serious consideration now. It is one of the many possibilities.
Unquote
Besides legal considerations, Lee explained that closing down crypto exchanges “will take a lot of discussion, debate, and time,” adding that “I am thinking about how it will affect the market,” Edaily quoted him.

Read up more from source

What to expect

It should be noted that apart from Fuders and haters spreading false and bad news which affects cryptocurrency negatively since its powered by speculations, if you check historical trends, these periods are usually bad for cryptos as such, only Hodlers & wise investors will benefit in the long run. Market is gradually recovering and withing the next few weeks we shall enter into another bullish trend especially if we are over with the Chinese new year holidays. So now is the best time for those with Fiat to buy up while those holding should keep those coins secure especially buy up steem and power up, including new comer like Elyte (elyte.io) that has huge potentials for investors. Remember, after the next hardfork of Steem and SMT's we shall see very sharp rise in value of steem which is already in many major exchanges.

So, stop Fudling and Start Hodling as the storm is about to be over!

Do you agree that Cryptocurrency will fully recover? If yes or no, send in your comments with reasons. If you like my post, do please give an upvote, resteem and follow for more.

Vital info
White List / Crowdsale: We are planning a big payout/Bonus for all those who bought elyte tokens ( this will be calculated in percentage ie the more you buy, the more tokens you will receive). However we will pay only those who bought from our crowdsale ( see link https://main.elyte.biz/?page_id=433 ) and filled the white list form (not from exchanges).
Bounty: we will pay bounty winners before the end of next week (so
keep sharing and applying see link
https://docs.google.com/forms/d/e/1FAIpQLSeOcKUUoTU6IKr1qX5osYaWMdVL8-nB5RmroYtYBir6YYof9A/viewform
) however only those that bought from our crowdsale (see rule 7) and
filled the white list form.
Good News / New Location: Cryptocurrencies are fraught with scams ie
many projects hide their teams profile / locations thus no real /
registered address. Elyte´s main goal is trust and to build trust and
confidence from investors, we´ve indicated our real identities on our
website and white paper. We have gone even further to being officially
registered in the financial city of the world: London ( remember we
are Elyte !!!) I hereby refer you all to details section of elyte.io
for elyte´s new location, office address and CERTIFICATE OF
INCORPORATION https://main.elyte.biz/?page_id=621
Thus this will add confidence and improve trust among future investors
(feel free to visit our crowdsale , buy and join our white list before
its too late).
We are Hiring: We will make changes to our team this month in order to
add top professionals that are better qualified to implement our
project and better serve our community members.
We are hiring apps and blockchain developers including digital
marketers –pls see career section of our website for job openings
https://main.elyte.biz/?page_id=169.
Feel free to share this information with all your contacts. On behalf
of elyte team, I Wish you all a blessed weekend.