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Bitcoin begins to fall as South Korea begins preparing a bill that will ban all cryptocurrency
This is a big deal because ethereum and bitcoin are heavily traded in Korea taking up about 10 percent of the entire market
Looking at the chart we see that bitcoin recently had a great run to 17k only to be hit by this news which within a couple hours has dropped over 5k
But now during the filming of this video it has now risen over 2k from the lows
News like this creates EXTREME volatility and this maybe be the reason for this news.
Yes, this is a pretty far fetched theory but I wouldn’t be surprised.
When your in the crypto market as long as we have been in then nothing really surprises you anymore.
Don’t forget that China came out with similar news back in Oct. which the price had a similar price action and you can see that after that news bitcoin reach new highs
So the take away here is don’t panic because we have seen this before and we will likely see this again
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Thank you so much for watching! We look forward to seeing you again with the most up-to-date info on the Cryptocurrency market!
Adam and Michael aka. BitcoinDudes
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**DISCLAIMER**: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice and should always do your research before making any investment. You should also understand the risks of investing and the risk that speculative investing has.