By the end of January, Bitcoin had reached $ 9,000 and was approaching $ 8,000. This was while last month, December 2017, we saw its price rise to twenty thousand dollars.
So it was that the market was attacked in a row by various factors, but the only problem was that some of these attacks accelerated the decline in bitcoin prices; Articles published in opposition to Bitcoin, and even worse, fake news, including these attacks and the troubles surrounding the main currency of the market these days.
The disintegration of South Korea
It was in mid-January that tensions escalated in South Korea, one of the main centers and bases of digital currencies. The incident came after the Korean Ministry of Justice arbitrarily announced its intention to crack down on the market in Korea.
As a result of this action, and just like its Chinese example, the market underwent a transformation.
However, after that, the higher-ranking officials of Babian Haqiqi clarified the matter, and in fact the feelings that arose outside of Korea were very positive and effective. On the other hand, this move was considered as a kind of insider trading, and during it, many countered it as an FUD attack.
But despite the removal of ambiguities and the passing of the dark shadows of threats from Asia, damage had been done to the body of currencies. Markets have risen again anyway, but soon there will be more risky news that shatters forecasts again.
The same as always
In the United States, the FUD showed its fears when summonses were issued to Bit Phoenix, once the world’s largest exchange, and to Teter, which operates tokens.
Seeing legislators consider digital currencies and their affiliates as their number one enemy and doing all they can to control them has filled the entire market with anxiety.
The summons was reportedly issued by the US Securities and Exchange Commission. However, these two companies have no base or base in the United States at all; As a result, all attention was drawn to them, because such a thing is outside the jurisdiction of the United States.
Although the market fell 11 percent in value after the news, it was later revealed that the summonses were issued in December, according to Nathaniel Popper, a New York Times reporter.
Again, the effects of this news were negative; And its credibility, despite doubling the market value, did not seem to matter much to the unrelated couple.
Misunderstanding of India
This time India was the cause of the latest market turmoil. News of a breeder who, with just one mistake in reading it, caused a wave of disruption in the market. One of India’s leading news agencies appears to have misinterpreted what an official said about the relevant legislation in order to get it published quickly. In this statement, the Minister of Economy of India, Aaron Jaitley, states:
The government does not recognize digital currencies as a coin or a means of trading and will take all necessary measures to limit their use in legitimate economic activities or as a method of payment.
The talk was published under the headline “Aaron Gaitley, razed India’s digital currency market to the ground.” This news was seen on all news sources by attaching an article from Quartz magazine.
The section in question meant that Indian legislators sought to restrict the use of digital currencies in order to invest in legal activities; But he made no mention of the illegality of digital currencies.
The world needs good news
There is no doubt that bad and mostly wrong news about Bitcoin has very bad consequences and effects; On the other hand, bad news, whether unreal, real, new or old, is accompanied by exaggeration and exaggeration.
Most of us have a laid back attitude when it comes to painting a picture about the digital currency market. However, such news remains a secret.