The crypto market took an unusual turn on Tuesday, where the largest cryptocurrency had been as low as $9,965 earlier in the morning, according to coinbase. Many Altcoins saw their prices nearly slashed in two at the low point of the day. As bad as that sounds, Bitcoin and Ethereum had it easy and prices weren’t as bad as the rest of the market. Ripple, Lota and Bitcoin cash were down 26, 27 and 24 percent respectively. Many cryptocurrencies with large market capitalization were mostly affected. This sudden drop in prices could be linked to rumours of a possible ban on cryptocurrencies in Asia. Last week, South Korean Justice Minister said a bill in on the way that could ban trading via cryptocurrency exchanges. Other countries are looking for measures to regulate the crypto market and prevent a Next Bitcoin from emerging. The volatility of the crypto market is indeed overwhelming.
