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Crypto-crash Triggers Panic among Investors

Cryptocurrency Jan 17, 2018 11:54AM ET
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Investing.com - Cryptocurrencies continued to selloff on Wednesday amid one of the most severe routs of recent years sparked by fears of a regulatory crackdown.
Bitcoin was down as much as 12% at $10,000 on Wednesday. It had traded as high as $14,394 on Monday.
Ethereum plummeted from a high of $1,401 on Sunday to $977.53 on Wednesday.
Ripple dropped from $2.02 to $1.17 over the same period.
The painful declines in prices sparked concern amid investors.
The mood across online boards where enthusiasts discuss cryptocurrencies was a mixture of resilience and despair.
To be in bitcoin and cryptocurrency, is to be in the wild wild west. Only the strong survive. Don’t think in the short term, always think long term,” said one user on Reddit.
Other users posted to the Bitconnect subreddit that they had invested large sums and had taken a heavy financial blow due to the steep price declines.
Cryptocurrency prices have come under pressure following reports that South Korea may be preparing to ban trading of virtual currencies on domestic exchanges. The country is one is one of the largest markets for major coins like bitcoin and ethereum.

Crypto-crash Triggers Panic among Investors
 

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Comments (10)
Boezz Xiao
Boezz Xiao Jan 17, 2018 3:08PM ET
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Thank God , this Is good news
Thomas McNerney
Thomas McNerney Jan 17, 2018 1:59PM ET
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Is anybody, anybody at all, surprised?
Sung Hoon Park
Sung Hoon Park Jan 17, 2018 12:56PM ET
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I dont think korea governments is going to ban Cryptocurrency trading. Government worry about vote in june 300milillion people trading in korea And if they ban those people is not going vote them. What i know is government trying make law so they have meeting with Crytocurrency expert these day. Dont worry about ban in korea.
Jimmy Daruwala
Jimmy Daruwala Jan 17, 2018 12:56PM ET
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But what about China....they were one of the biggest crypto users
Jorge Arenas
Jorge Arenas Jan 17, 2018 12:47PM ET
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even after this drops there is not real value to back up these prices, so buying now is like playing casino....
Sbusiso Shabangu
Sbusiso Shabangu Jan 17, 2018 12:32PM ET
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I wish it could be below 10k for next 6 weeks. So the broke ones like us can get money to go long.
Jordan Ball
Jordan Ball Jan 17, 2018 12:32PM ET
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You can go long with less than 100$ and be a crypto millionaire!
Jordan Ball
Jordan Ball Jan 17, 2018 12:32PM ET
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You can go long with less than 500$ and be a crypto millionaire if you learn how to invest correctly!
Harry Woods Jr
Harry Woods Jr Jan 17, 2018 12:32PM ET
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Pretty sure, south Korea banned crypto exchanges... they were ahead of the u.s. in activity, an money invested in bitcoin... Now that they are out of bitcoin, bitcoin is going to $4,000, maybe $5000... if crypto keeps the momentum with other countries.... there is NO way the U.S. is going to sustain a price above $10,000 a bitcoin .... remember bitcoin's price Revolves around how many there are, amount of businesses accepting btc, an buying, selling, and trading.... now that Christmas is over, people don't have any money anyway.... Bitcoin is going down!!!!!
Sbusiso Shabangu
Sbusiso Shabangu Jan 17, 2018 12:31PM ET
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It's time to buy.
Kiefer Zang
Kiefer Zang Jan 17, 2018 12:12PM ET
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The bitconnect subreddit posters lost everything because bitconnect exit scammed, not just because of the price drop
Michael Bloomberg
Michael Bloomberg Jan 17, 2018 12:12PM ET
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Wait it fall again some -75%. then buy two times more from 2,500 USD to 1 millions USD.
ChartingG Blr
ChartingG Blr Jan 17, 2018 12:12PM ET
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Day dreaming....watch out for $7600, below that... U will never know what hit you,!
nn tun
nn tun Jan 17, 2018 12:05PM ET
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Next will it will be up 20%..time to buy
xx Gen
xGen Jan 17, 2018 12:05PM ET
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I agree it's time to buy Next it will be up 500 %
 
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