SHARE
Markets Update: Cryptos Look for Relief After South Korea Mainstream Media FUD Causes Losses

There’s been a lot of uncertainty stemming from the mainstream media’s portrayal of South Korea’s digital asset economy, and rumors of a trading ‘ban’ has triggered some significant cryptocurrency market volatility. The price of bitcoin took a tumble downwards yesterday evening to the $12,775 USD zone around 11 pm EDT, after it came close to grasping the $14,900 range. At the moment, BTC/USD prices are trying to stay above the $14K area and attempting to recover from yesterday’s market wounds.

Also Read: SEC Suspends Trading in Blockchain Firm With No Revenues and No Product

After More South Korean Rumors, BTC Markets Head Southbound After Coming Close to $15K on January 10

Markets Update: Cryptos Look for Relief After South Korea Mainstream Media FUD Causes Losses
This week South Korea brings the FUD to cryptocurrency markets.

Over the past week, cryptocurrency investors have been fixated on South Korea and the government’s recent exchange ‘crackdown.’ Much like China’s PBOC rumors affecting the price of BTC, reports about South Korea have been conflicting, and filled with fear, uncertainty, and doubt (FUD). Right now there’s some hefty volume taking place worldwide as over $17.4Bn in BTC has been traded over the past 24 hours. The top five exchanges swapping the most bitcoin today are Bitfinex, Okex, Binance, GDAX, and Bitstamp.

The USD is the most traded currency paired with BTC capturing 39% of the global trade volume. The Japanese yen occupies the second position at 34% followed by tether (USDT 9.6%), the euro (4.7%), and the Korean won (4.4%). Right now according to Shapeshift and Changelly the most swapped altcoin Read More Here