South Korean is undoubtedly one of the biggest market for bitcoin , ethereum and other altcoins
According to industry website CryptoCompare, more than 10 percent of ethereum is traded against the South Korean won — the second largest concentration in terms of fiat currencies behind the dollar. Meanwhile, 5 percent of all bitcoin are traded against the won.
Hence why Park Sang-ki ´s : Soth Korean Justice minister remark led to panic in the market:
"There are great concerns regarding virtual currencies and justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges," Park Sang-ki said at a press conference, according to the ministry's press office.
We in the crypto space have seen such issues: Government haters and their dogs trying to induce panic in the market and thus destroy this wonderful phenomenon called cryptocurrencies-here are some points to note:
Undervalued tokens: In times like this, smart people do look for undervalued tokens and take advantage of the cheap price. One example (as indicated in my former posts) is elyte.io which is currently doing some private crowd sale and free bounty (contact me if you have questions and see link below to their telegram group where you can ask questions).
Remember China and Other Crypto haters: In retrospect, China followed even harsher rule last year which led to huge panic and sell off however cryptocurrency markets rebounded even stronger as seen in the hike of their market capitalization
Panic Sale: According to coin market cap, most coins have reduced in price value (Including Steem and SBD) due to the news which led to fud- which is not a new thing rather a blessing in disguise for new investors.
No Panic, Time to buy: This is a great time to buy some top coins like Steem, SBD, Bitcoin , elyte.io cheap and hold due to their future growth potentials. So do not panic rather take it as an opportunity.
Do you agree that bticoin, steem and other altcoins will recover? Send in your comments, would you upvote in order to send in your support and resteem for others to join.
Click here and read my former post: Do you want to know the real benefit of Steemit? Read this Post and Keep Sharing :
Hey guys, heard about this new upcoming coin called Ethereum Lyte (ELYTE) , so far price has shot up over 3K% in just a few weeks- even as they are yet to be listed on Coin market cap (coming soon), seems like it might be a real good investment for the future. What are your thoughts? Make sure to check out their twitter page : https://twitter.com/EthereumLyte , website : https://www.elyte.biz/ and white paper or join their active telegram community https://t.co/kAhkvVTPBF where all your questions will be answered.
And get their tokens fo free via their current bounty, see link https://docs.google.com/forms/d/e/1FAIpQLScf9ORCo55gpLT9kIJA2kjR0ugWUeT5lDQg9GPgZ6RlW2Nc4A/viewform
Elyte website: https://www.elyte.biz/
Telegram : https://t.co/kAhkvVTPBF
Facebook: https://www.facebook.com/EthereumLyte
Twitter: https://twitter.com/EthereumLyte
Linkedin : https://www.linkedin.com/company/ethereum-lyte-elyte/
Bitcoin Talk page : https://bitcointalk.org/index.php?topic=2618851.new#new
Reddit : https://www.reddit.com/r/EthereumLyte_ELYTE/
Join the Telegram group for now!