So, there are a few reasons as to why this is happening!
South Korea claims are scaring people off. Whenever a country makes an announcement about their stance on cryptocurrencies, the market becomes bit hectic. It doesn't help that big influnecers and online journals are making posts saying "South Korea Bans Bitcoin" which is also scaring people.
China's new stance on cryptocurrencies and BTC mining etc also provides negative press.
Bitconnect closing is having more of an effect than people realise: there were so many people with money in Bitconnect (I steered well Clear of it) that lost money. I'm sure that they are all pulling from their portfolio To Help support themselves monetarily.
We had just seen a huge bull run, a pullback was needed. I think what happened Was The pullback was exaggerated due to all of the other news I mentioned, it should all go back to normal soon enough!
Good points.
I stayed clear of Bitconnect too. Never seemed right to me, so I'm glad I stuck with my gut on that.
Happy to hear that! Agreed, I work full time in cryptocurrencies and had a few friends who warned me about it before I looked in to it.
I'd love to chat more and maybe get your feedback on some of the content that I'm putting out, as I just started a new blog series on my pages! Are you on Steemit Chat or Discord?
I'll check in on your blog. I stay away from the chats simply due to time. I monitor a hand full of project chats already and those are distracting enough, lol. People keep poking me to hop on, so I should probably do that...
Thank you! Any feedback would be really appreciated. That's completely understandable - I imagine you would get a lot of messages!