The price of the crypto-currencies have experienced a considerable decrease since 16 January. The price of Bitcoin has decreased about 15 percent, and some Altcoins have lost almost 90 % of their value. This is not the first time that the prices of the crypto-currencies are evolving as well, especially after some of the governmental measures of repression.
Check out the details of this decrease in the price of crypto-currencies :
This time, this decrease is explained by the position of China and South Korea. In the first quarter of 2017, an announcement of the people’s Bank of China indicating the projects of regulatory operations of crypto-currencies in the country has given rise to a similar situation. Furthermore, this price drop was short-lived, as the Bitcoin has rebounded very quickly and has even set new records in a few days.
An opportunity for investors
The CEO of Netcoins, Michael Vogel, told CCN that it comes from the fact that these asian countries have been among the first to adopt the digital currency. The negative news from Asia may as well cause panic in the market.
Source : Pixabay. The asian market will impact greatly the evolution of the price of the digital currency.
Michael Vogel states that this recent price drop is very indicative of a long-term trend. He said that this situation is just a reminder that this market is volatile. This is an opportunity for investors to acquire crypto-currencies at a low price.
A natural phenomenon
The president of Blockchain TV, Jason Cassiy, explains that as the market capitalization of crypto-currencies grows, it is natural to see withdrawals as those that have recently taken place. He explained that regardless of what drives the market down, such a behavior of the sector is healthy for the stabilize.
Concerning the impact of Asia on the market of crypto-currencies, Mr. Cassidy stated that at the present time a large part of the volume of global trade takes place in Asia. He continued by saying that China and South Korea will continue to have an impact on the industry.
Source : NCC