Bitcoin, the global markets #1 cryptocurrency, has fell in price to $10,000. The market correction is to blame for the fall of pretty much every coin on the global market. Many are calling it a market “bloodbath” as coins are all plunging. The cryptocurrency market cap was measured at a low value of about $500 billion and the coin’s price sunk to a low of $9,663 on Bitfinex. However, this is not the first time Bitcoin fell below $10,000, on December 1st the coin dipped. Currently the coin’s market cap is at $170.9 billion, which shows that it has increased to 16% in a single day and fell more than 28% year-to-date. There are many reasons as to why the market is experiencing this fall. Crypto market leaders, China and South Korea, are both enforcing stricter regulations on trading. They are even in talks of banning market trading from local investors, altogether. Recently, South Korean military members have been trying to access their investments and trades, while they were stationed on military bases. The military bases restricted online access for the soldiers. The government has since cooled down and is working on creating rules and regulations that fall within their jurisdictions. Many are saying that this cannot be the only reason why the market has declined. We believe that when markets rise they will also fall. This is a volatile market and it can be expected from time to time. Investors should not fret and they should take this as an advantage to buy cryptocurrencies at a cheaper price.
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