The entire cryptocurrency has plunged in market capitalisation from a recent high of $800 billion to $650 billion.

The cryptocurrency market fell in a wave of plunging values and appears to be continuing its downward movement at the time of the writing. Virtually all currencies have seen a turn for the worse over the last number of hours.

Ethereum experienced a banner day yesterday reaching all time highs before beginning its own descent, although not as rapid as that of competing currencies. Bitcoin has fallen back into the thirteen thousands and numerous other coins have seen recent gains wiped out in a matter of hours.

The news of a further crackdown in South Korea seems to be the epicentre of the current FUD. Exchange offices of BiThumb and Coinone were raided in an attempt by the Korean government to stymie money laundering and a crypto-speculation fever that has over-taken the nation in recent months.

As a trader, this is nearing an excellent time to buy as the prices will not fall for much longer, in my opinion. It could be an excellent time to pick up currencies such as Bitcoin, Ethereum, Bitcoin Cash, and particularly Tronix, which was experiencing a tremendous recovery upon the announcement of a new partner, Baofeng, just hours before news broke of the exchange office raids in Korea. Privacy coins such as PivX, Verge, and Monero could also be excellent buys in the current conditions.

*This is not professional trading advice - just my opinion!

source:

http://www.sherwoodfoods.com/fud-and-la-chona/