Published On: Sat, May 12th, 2018

Bitcoin Shows Some Resilience in the Midst of Widespread Crypto Price Decline

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Crypto prices have dipped within the last 24 hours as the market reacts to a series of events over the previous few days. A look at CMC’s rankings shows only a couple of coins posting positive 24-hour price changes. However, in the midst of the general cratering, Bitcoin appears to be the least affected of the lot.
South Korea: The Epicenter of Events
UPbit, the largest cryptocurrency exchange platform in South Korea, is currently under investigation. A joint task force of local police and financial regulators raided its Gangnam headquarters on May 10th. The platform is accused of diverting client funds into the wallets of its executives and forging its accounting records to cover up the malfeasance.
The reaction from the crypto community to the news followed the established script – panic. At some point on May 11th, the top 25 cryptos, according to market capitalization, were all in the red. Prices were declining by as much as 16 percent for tokens like Stellar, EOS, and Cardano.

According to Marius Rupsys, a digital currency investor:
The main reason seems to be UPbit news. Most are talking about it, and if you look at prices in Korean exchanges, they are leading the …

Read more –> click here all content is copyright Bitcoinist.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

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Published On: Sat, May 12th, 2018

Bitcoin Shows Some Resilience in the Midst of Widespread Crypto Price Decline

Share This
Tags

Crypto prices have dipped within the last 24 hours as the market reacts to a series of events over the previous few days. A look at CMC’s rankings shows only a couple of coins posting positive 24-hour price changes. However, in the midst of the general cratering, Bitcoin appears to be the least affected of the lot.
South Korea: The Epicenter of Events
UPbit, the largest cryptocurrency exchange platform in South Korea, is currently under investigation. A joint task force of local police and financial regulators raided its Gangnam headquarters on May 10th. The platform is accused of diverting client funds into the wallets of its executives and forging its accounting records to cover up the malfeasance.
The reaction from the crypto community to the news followed the established script – panic. At some point on May 11th, the top 25 cryptos, according to market capitalization, were all in the red. Prices were declining by as much as 16 percent for tokens like Stellar, EOS, and Cardano.

According to Marius Rupsys, a digital currency investor:
The main reason seems to be UPbit news. Most are talking about it, and if you look at prices in Korean exchanges, they are leading the …

Read more –> click here all content is copyright Bitcoinist.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

Powered by ABITCO.IN

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