Even the most casual of cryptocurrency investors were not insulated by the dramatic market changes seen throughout the evening and on into the morning hours. While the price changes in Bitcoin (BTC) were significant, the correlating market rebound was quick and measured.

The largest drop was noted between 11:00 PM and 12:00 AM EST USA

Two major news events sourced from South Korea were shown to be the primary cause of the panicked market trading. The unfortunate nature of the news stories and allegations began a coordinated attack on the legitimacy and efficiency of the cryptocurrency exchange market in South Korea.

A simple Google search yields multiple results proclaiming “South Korea prepares ban for cryptocurrency exchanges.” or “South Korea raids major cryptocurrency exchanges.”.

CNBC, who I will not link via this article, has shown a proven track record of investment in the failure and volatility of the cryptocurrency market. The unfortunate nature of the main stream media has shown an increasing decline in positive coverage, with an exploitation of any mention of market volatility or decline.

As we continue to research the current state of the market in South Korea, however, we begin to see a very differently shaped image forming.

The reality of the situation is this,

South Korea is moving for the regulation of Anonymous cryptocurrency trading. South Korea is a thriving, democratic society that shares in the resurgence and success of this market.

As ongoing attacks continue, we consistently find that institutions and governing bodies invested in traditional currency and investments will continue to launch attacks against the industry. The truth is they have a vested interest in the very collapse and failure of this blossoming industry we have come to know and love.

As investors, enthusiasts and early tech adopters, we can expect for these attacks to continue. With that said, any industry that involves rapid growth comes with the growing pains of a society and culture set in a specific way of conducting transactions and transferring currencies.

While many people are concerned they didn’t get in on the basement level, I would add that we are simply on the first floor. The further skyscraper of cryptocurrency is being built and developed into an epic display of architecture the likes of the world has never seen.

About Me (Kevin Steele):

I am currently an IT Professional with over 10 years experience spread across multiple fields including IT, Graphic Design and Marketing. I am a cryptocurrency enthusiast and all around geek and currently reside in the heart of the Midwest, Indianapolis, IN.