16 January 2018 Why coin prices fall ? Reason for Crypto currencyprice fall

January 16, 2018 | Author: | Posted in Crypto Currency

16 January 2018 Why coin prices fall ? Reason for Crypto currencyprice fall : Bitcoin, Ethereum, Litecoin, Ripple, Tron, IOTA, Appcoins…

Almost all crypto currencies/coins excluding NEO, GAS and TRIG started the day with sharp price fall up to 40% .

The development behind today’s price fall is the official statement on crypto currency ban made by South Korean Spokesperson Jeong Ki-Joon at a presss conference in Seul.

Stating that the government would discuss the crypto currency ban trading, Jeong Ki-Joon emphasized that the government would investigate market manipulation as well as money laundering attempts. On the other hand, the spokesperson also pledged that the South Korean government would support and finance blockchain technology.

Following the statement which featured a possible discussion on crypto currency ban in South Korea, coin prices plunged down with remarkable loss in value. Even though the statement did not contain a ban decision, it still had a huge impact on the market.

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