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🔻Another Red Day for cryptos? Yes, but this time it's a bit different.🔻 by bescouted

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· @bescouted ·
$10.05
🔻Another Red Day for cryptos? Yes, but this time it's a bit different.🔻
Those who are involved in crypto currency trades most probably have noticed a major dip in all cryptocurrencies today. Bitcoin and Altcoins including. While usually Altcoins climb up when Bitcoin is decreasing in value today the absolute majority of cryptos went down in value altogether reducing the total market cap from $830 billion to $755 billion. 

<center><h2>What was the reason for that?</h2></center>

While some of people probably sold their coins in panic of a market recession the culprit apparently was CoinMarketCap that ceased to factor data from South Korean exchanges into its pricing algorithms. **[Korean exchanges tend to price coins and tokens at significant premiums — often 25 percent or more — the change made it appear that prices were plunging across the board, even though the actual movement was, in many cases, much more subdued.](https://www.ccn.com/ethereum-price-swims-tide-top-coins-retreat/)**

[![red day.JPG](https://steemitimages.com/DQmeETyyUMGJkGHMtL1budUpLmubtx7xuFhRR9pPgDGUHvb/red%20day.JPG)](https://steemitimages.com/DQmeETyyUMGJkGHMtL1budUpLmubtx7xuFhRR9pPgDGUHvb/red%20day.JPG)

While i do not know if any kind of notice of such a move was given, i believe that many stop loss orders were executed due to this move and i wish that  some kind of warning should have been announced. And while this might not have resulted in loss i would be willing to make my decisions on my own rather than influenced by somebody's decision to change the way the average price is calculated. Now if they decide to switch back after some time, many limit sales orders would be executed again, while i could sell the coins even higher without the limit sell order being involuntarily executed because of somebody else decision.

What do you think, should be that kind of changes announced in advance so people could prepare? As those who knew about it in advance could benefit from that a lot. Or maybe i did miss such a warning and there was one.
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@dukmaster ·
$1.78
Cmc has way too much power imo, it being the 147th most popular website worldwide.
👍  , ,
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@bescouted ·
Yeah, you are right. But what can you do? :)
👍  
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@dukmaster ·
I mean, the more people move to livecoinwatch and cryptocompare the faster the less money they will make from ads, making them actually use their head.
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@folly-pandy ·
The cryptocurrency market is really going fast..   And also influencing the market in a higher scale..  Cryptocurrency all the way
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@bescouted ·
That was not the topic of the article, but yes it is going really "fast".
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@joeshaver ·
$0.09
It's a bit frightening that one website has the power to influence the markets like that. There is a lesson to be learned in this.
👍  ,
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@bescouted ·
I totally agree with you. Certainly brings much more FUD into ecosystem. It is not that decentralized after all it seems.
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@ormism ·
Some of the pitfalls of an unregulated market.

We cant have it both ways surely?
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@bescouted ·
I guess i have to agree with you. Everybody will learn from their own mistakes. Natural selection.
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@thenomadictales ·
It's time to take a break. I took a break from trading and tried reading market. 

Initially I did panic but soon realized it's only a temporary phase and is best to hold
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@bescouted ·
$0.05
HODL always works.
👍  
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@tradewolf ·
$0.05
Yes a big read day with 100 Billions less in the market cap, it could be also a good period to consider buying more ;)
👍  
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@bescouted ·
Yes, and tomorrow they are going to reverse their decision, what happen then? Trillion in market cap just in two days? :) As many unaware people are buying the dip now :)
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@tradewolf ·
From what is trending in the web seems that Asiatic investors are manipulating the market this way to make huge profits, but nothing sure, all what am doing is following the market waves and trying to take profits whatever the trend is.
Thank you for your good work :)
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@upme ·
re-bescouted-another-red-day-for-cryptos-yes-but-this-time-it-s-a-bit-different-20180108t184656517z
You got a 0.32% upvote from @upme requested by: @bescouted. <br> Send at least 2.5 SBD to @upme with a post link in the memo field to receive upvote next round. <br> To support our activity, please vote for my master @suggeelson, as a [STEEM Witness](https://steemit.com/~witnesses)
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