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Overheen the last 16 hours wij have seen a retracement back down to the $8,400 – $8,200 range. This wasgoed not unexpected, CryptoInMinutes called this market retracement earlier this month and it is playing out exactly how wij expected.
This market dump is nothing to be afraid of, te fact, it is healthy and could set us up for a big bounce te the coming week.
So if you were following usd on twitter last night @MasterSprooker @cryptoinminutes @smartcontracter @cryptocohen_ you would already know about this violating news. UpBit is Korea’s largest cryptocurrency exchange.
Yesterday they were visited by the authorities. I wasgoed posting a play by play pauze down on twitter yesterday spil my connection te Korea broke the news to mij. UpBit is under investigation for fraud however nothing has substantiated and there is no reason to scare. However spil predicted the markets did scare with some alts like ADA pulling down almost 20%, this presents a fantastic buying chance.
FUD is nothing fresh te the cryptosphere and this te no way resembles a crypto verbod ter Korea. It is simply the government being the government. Investigations such spil thesis add legitimacy to cryptocurrency spil a entire and they should be seen spil progress.
Ter other FUD, 8,000 BTC has bot moved from the Mt. Gox Trustee wallet address. This created some fear te the market spil traders ready for 8,000 BTC to be dumped. Trades of this size do not get dumped onto the market. There is an OTC Bitcoin market that makes up 70% of the BTC volume traded, this market is used for large trades such spil the Mt. Gox Trustee settlement. Thesis are not executed on markets such spil Binance or Coinbase so there is no need to worry about the market prices being affected.
This is not the end, wij think there will be a bit more to go before wij reach the bottom of this dump. Wij capitalise on the fear of our weaker adversaries, those who trade based on their emotions. Spil such wij see this spil a superb buying chance and wij will be layering our buys spil the market resumes to druppel, loading up on some of our favourites such spil MAN, MOD, SEN, LUX and VEN.