Bitcoin Going Down In Flames?

If you’ve been keeping an eye on the cryptocurrency markets this week, it won’t have escaped your notice that…

Pretty much every cryptocurrency is down this week.

Why?

Well, the cryptocurrency market is so nuanced, there’s rarely a single reason for major price moves.

But here are three main reasons for the most recent dip:

  • Fears that South Korea will clamp down further on cryptocurrency exchanges
  • The Chinese cashing out their crypto gains for the Lunar New Year
  • Beginning of year sell-off to pay taxes
  • There’s also a lot of panic selling by novice crypto traders spooked by dropping prices

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