Why the current FUD about Korea banning cryptos is GOOD for the whole market!

Hey Steemians!

I just want to share a quick word about what's going on in the crypto-world at the moment. So there were news today which said that Korea, one of the leading countrys for crypto-currencies, "readies a bill to ban trading". The market reacted to this with a little crash, the market cap went down to 670b dollars. Which is still ridiculously high in comparison to a few months ago.

You can read the whole Story here:
https://www.cnbc.com/2018/01/10/south-korea-official-reportedly-readying-bill-to-ban-all-cryptocurrency-trading.html

To all the new people joined cryptos a few weeks ago: This crash is completely normal and I would say healthy for the whole market. We saw massive growth in the past few weeks, and whenever there is something massively growing the chance for a so called "bubble-burst" is growing as well. From time to time you need something that slows down that growth in order to relax the whole market and this news is just that.

So we should all be grateful for the fear that is spread by CNBC at the moment.

Oh and by the way: "China's central bank banned ICOs on Sept. 4 and later banned all bitcoin exchanges from operating in the country." There was a short period where the market crashed. But look at the charts where we are standing now. Regulation and prohibition cannot stop Cryptocurrencies!