I want to remind everyone this kind of activity is expected and it is happening for several reasons. It does not mean “crypto is dying,” like the FUDsters tend to repeat ad nauseum.
Certainly, there are disagreements on how to scale bitcoin and allow it to grow into maturity, but this does not mean the underlying technology has failed. In this sense, the markets have only entered into a bearish sentiment as a result of a mixture of psychology and negative news.
For starters, there is nothing fundamentally wrong with the technology, except the myriad of scam coins out there, but that is a different story.
The Asian markets have been one of the causes of recent valuation losses. Around two months ago, the government in South Korea said they will be implementing bans on “anonymous accounts” in order to prevent “criminals and children” from trading the digital currency.