Bitcoin And Cryptocurrency Market Plummets | Korea Raids Bithumb and Coinone / Banning Trading

hi guys thanks for coming back to the channel I just had to make this video because the words on the street is that there is panic on the street look at the market idiots going free for at the moment everything it is that it’s going down big time we’re talking huge numbers in here and including myself including everybody else we are seeing our portfolio pretty much losing a lot of its value and what can I say it looks like it may continue the dip obviously the main reason for that is the news coming out from Korea of course everything began with the Chinese government going after the Bitcoin miners the electricity whatever you want to make are bad and now we have the Korean government apparently going after the exchanges of raiding bit hump in coin one which is one of the biggest exchanges in Korea due to opponent tax evasions of course they always use this excuse in order for them to get into companies its tax evasions and it gives them freedom to do whatever they want as well as it looks like the Ministry of Justice it is setting up a bill to pretty much close down all the exchanges in Korea now firstly myself I think is just a third eye thing is you know government’s trying to push the price down try to scare people weekends they were gonna sell they’re gonna forget about cryptocurrency government’s gonna buy back and of course it gives them opportunity to then come back do any you turn like the Chinese government did a few months ago they said we’re gonna close exchanges obviously they came back a man that I don’t know exactly how long they did the u-turn we allowing exchanges back but we need to have strict regulations I think the same thing is gonna happen with the Koreans because let’s be honest the cryptocurrency is the future it is unstoppable and if they stop it in Korea the Korean people that want to invest in cryptocurrency BAE will find a way to continue to do so just like the Chinese did by using local bitcoins and other platforms or possibly even traveling outside China to do so warning is for sure of course it is that cryptical is supposed to be decentralized and unstoppable and I still believe it is but it’s very unfortunate to see that a single article a single government just you know raiding two exchanges putting the word out there they’re gonna close down any the exchanges in the country pretty much crushes the the market and that is sad because it looks like we can deny all we want but a true reality is that unfortunately if the government truly wants to do something you know a damage control on the crypto currency they can do it we can see it and that’s one thing I’ve agreed with Jamie Dimon I didn’t agree anything else when it comes to you him but in particular that I did agree when he said if the government wants to clamp down the crypto currency they can do it and in fact yesterday someone messaged me I don’t know it was something to do with the crypto currency honest message back saying yes the crypto currency is decentralized it isn’t stoppable but unfortunately the government can stop the internet and if there is no internet there is no crypto currency now I’m not trying to spread further in fact what I’m gonna say is we have seen you know dips like this before if you go back to the history of crypto currency you can clearly see that we’ve been here before and we have recovered I think we’re gonna recover again and we’re gonna recover even stronger I don’t think that this is gonna be a permanent thing in Korea because Korean market is one of the biggest obviously feud yesterday I think was it corn market cap to crop the Korean government the Korean exchanges from the prices maybe it was a start of default whatever we will recover that’s that’s for sure yes there are one of the biggest markets and you know when it comes to crypto currency we even seen that for instance in Bitcoin now here is 13,500 in Korea will be sixteen thousand seventeen and so that’s why they were pushing the price and that’s what probably now we’re seeing this huge effect on the on the market simply because there are a big big player okay on G Dax a moment ago as you can see Bitcoin went down to thirteen thousand one hundred it recovered slightly but now it’s going back again if the government the Korean government because now this is just fat spread around we don’t know for sure they’re gonna do it but if they truly close down the exchanges and then they may do a u-turn like the Chinese government did but if they truly close down the exchanges we would definitely see prices of cryptocurrency go even further down that’s my belief now I’m sure some of you is gonna ask me what should you do should you buy should you sell what should you do and I truly don’t know what to say myself personally I’m not gonna sell I don’t want to do weekends and the market is so volatile at the moment that just a little news can you know drive it you know the opposite direction immediately so if I was to sell let’s say now my Bitcoin I may regret it we didn’t half an hour if all of a sudden something else comes out from somewhere and the price goes back to 15 K so I wouldn’t do it but if you believe or if you’re scared and you just can’t take it then maybe you want to sell it’s up to you I don’t want to give you any financial advice because you can clearly see it’s going crazy at the moment it’s been going crazy for a few days the best thing of course is if you do believe in the technology and the future of cryptocurrency just continue to hold on if you can’t take watching the walk it just close down the computer don’t watch it and eventually we recover now of course you want to try and make money maybe you can I don’t know maybe it’s late to say now and then buy back lower because I don’t know I mean how long can we go but we can really go down let’s be honest I mean I don’t know how how much but we can definitely go down look for instance ripple I’m not invested but I’m just giving you an example my god that is a huge loss for some people repo went to almost 3.5 US dollars and now it’s gone to 1/7 how long is gonna go down to I mean you know how long sorry is it gonna go to a dollar I don’t know maybe you never know because let’s be honest I mean yes to be that’s one thing I want to say as well is it ripple it’s you know it’s or XRP it’s not cryptocurrency and the Koreans in the cha and the Japanese were supposed to be using it so therefore it’s strange to actually see XRP because repo necks are paired two separate things XOR P is let’s say the currency a repo company and it’s very interesting to see it going down I mean everything’s going down just just a strong make your own decisions don’t panic sell however just because it’s going down and as I said a moment ago if you need a little bit more like motivation go back look at the history of Bitcoin cryptocurrency and you will see that we have been here before obviously not with this numbers but we have been here before and when Bitcoin you know went to about a thousand then it crashed down and then he recovers and it’s been happening it’s gonna continue to happen nothing new in here and yeah only the strong will survive that’s for sure and some will buy for cheap because most of us who are involved in cryptocurrency would definitely say now it’s a great time to buy because it’s everything is on sale that’s a fact everything is on sale everything is on the red so whatever you go for you’re gonna end up making money in my opinion if I had any field sitting around I will definitely would have by some cryptocurrency at the moment thank you for watching guys hope you enjoyed this video it was just a quick video obviously in regards to the market we can’t ignore what’s happening at the moment with the gonna have to keep an eye on it I’m gonna put a link down below in the description to this article right here but if you just search South Korean cracking down on Bitcoin Chinese cracking down on Bitcoin miners everything is out there you can’t miss it everyone is talking about it right here as well south korea’s justice minister said a bill is being prepared to burn all cryptocurrency trading which is crazy they can’t bank they can’t ban cryptocurrencies let’s be honest the Korean they’re gonna find a way to steal by cryptocurrency so the government they might burn it for a while but then they’re gonna do a u-turn in my opinion because let’s be honest with you why would you ban something that can make you so much money if genuine people make money with cryptocurrency they’re gonna pay their taxes if obviously you have some dodgy people that are not planning to pay you have them with everything you know you have people that are dealing with things that are not allowed let’s say and they don’t pay taxes in what no right but they they haven’t closed the field yeah why why is the government not closing down the field and it’s very interesting obviously what we’re seeing so I don’t think they’re gonna miss out on the opportunity of making money it is just one of those things to push the price down and yeah some of them to buy very very cheap here it is guys we are getting very close let’s see if we’re gonna hit the twelve on G Dax yep I’m fortunate we are about to hit 12,000 under 13,000 okay okay recovered slightly but I think we’re gonna hit 12,000 probably here it is it’s going down definitely going down we’re gonna finish the video but let’s see if it’s gonna go down I think it will yep there you have it so it’s continuing guys it’s definitely it’s a crazy time to be involved but we will be okay thank you for watching if you have any questions feel free to ask me and hope you enjoyed this quick update in regards to the market stay strong that’s all I can say if you enjoy the channel feel free to subscribe you share follow me on Twitter and I’ll see you in the next video bye for now

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