A Slight Correction In The Digital Currency Market And A 10% Drop In Price For Both The Ripple And Cardano

 Earlier in the day on January 21 , the digital currency market saw a minor corrective move, as the market value of all digital currencies, including the currency of the riyal and Cardano, declined. While the market value of major digital currencies such as Bitcoin and Ethreum declined by a relatively small margin, the value of both the Ripel and Cardano declined by about 10 percent. Since the major correction last week, Ripel's market value has struggled to recover and to try to exceed $ 80 billion. And at best, close to the value of Ribl market of 150 billion, surpassing easily the currency Alathreom to become the second largest digital currency after bitcoin. However, since the correction, the ripple has suffered from a week-long recession. Cardano, which at best reached $ 32 billion on January 3 , has not rebounded to more than $ 20 billion in the past week and has struggled to achieve half of the market value of the currency.Many analysts recently attributed the simple correction of the digital currency to what happened in the South Korean market of decisions issued by the digital currency platforms that prohibit foreigners from trading digital currency. This week, the Korbit is the third largest platform for trading digital currencies in South Korea, customers have told that foreign users will not be able to deposit or withdraw any Korean won in the local digital currency trading platforms, as soon starts anti - money laundering system ( conversion AML ) by The end of January. Korbit wrote in this regard:

 

"Please note that non-Korean nationals, whether resident or non-resident, will not be allowed to deposit KRW on any currency trading platform as soon as the new KWR is activated. We will show you more in a separate message. In order to comply with government anti-money laundering regulations, the KRW filing method will be finalized by the end of January 2018. "

 It is difficult to gauge the impact of the digital currency ban on foreigners initiated by the South Korean government on the global market, since the majority of South Korean investors and currency traders are nationals of the country. Thus, it is unlikely that banning foreigners from trading in the local currency market could cause this simple global correction. The government has announced since December 14 last year that foreigners will not be able to trade digital currency in the domestic market.
 

What will happen in the market ?

Currently, South Korea has disabled domestic investors' ability to open new accounts. Investors who opened accounts before January 2018  are trading. By the end of January, trading platforms in South Korea will start accepting new users and opening accounts for investors. By the end of this month, over the next two weeks, a wave of investors from the traditional finance market is likely to invest in the digital currency platforms, which will increase the volume and value of currencies. In the short term, in the next few days, digital currencies are likely to continue to fall, most people in China and South Korea have sent the money abroad or have disbursed it locally by withdrawing funds from bank accounts and from their digital holdings .