Cryptocurrency Blood Bath: Except five coins (Neblio, Quantstamp, SmartCash, Ethos, and Tether), all other top coins are dropped in 24 hours. At the same time, the most valuable coins such as Bitcoin, Ethereum, and Litecoin are looking good than other coins. According to thecoinmarketcap.com, the market capitalization of all top crypto coins have decreased.
The reason behind this big decline of all coins values is because of some Asian countries. They have implemented some new regulations for all the digital currencies. While some other crypto tokens are slashed to its half of the value. At the end, most of the investors are started selling their crypto coins and it is another reason for sudden fall.
Also, the Beijing plans to block domestic access to Chinese is another keynote of this Cryptocurrency Crash. Because of this plan in China, the crypto market values are got stuck and fell down.
This is not new in the crypto world, while most of the countries are planning to ban the market of cryptocurrency, especially South Korea government doing plans against the digital coins. In the past few weeks, these two incidents have played a major role in coins huge dip.
In the beginning of January, the value of Bitcoin was US$13,000, and in the earlier December, it was at US$19,800. Becuase of the consecutive news against to crypto from South Korea and China, now it is at US$11,000 on Wednesday.
In the third quarter of 2017, there was a big drop like the same which happening now in September. But, it got recovered back soon in short-period of time. So, the top coins are will back soon to its normal track on next week according to the prediction.