Dear readers! In this article I would like to discuss last trends of DeepOnions. As you might all know in the last days, market of cryptocurrency was fluctuating too much. Most of them lost half of their value. For example, leader of the cryptocurrency market, in terms of biggest price and market capitalization, Bitcoin lost 48% of its value. So did all other major cryptocurrencies. Of course, DeepOnion is not the leading cryptocurrency, but it followed the ongoing trend and lost massive amount of its value.
It is very interesting to define what are the reasons and key drivers behind this unexpected drop in the cryptocurrency market. The thing is that government of South Korea changed attitude towards the future of cryptocurrency and changed regulations on the cryptocurrencies making them to complicated. As papers say, probably they are going to restrict the usage of cryptocurrencies in South Korea. As it turns out, South Koreans see too much risk in the cryptocurrency market and think that it is just an ordinary financial bubble which will burst at some point and bring serious damages to the economy and financial system. This is the reason why cryptocurrency market has seen serious losses in the last few days. The long and the short of it, South Korea has caused this particular fall in the cryptocurrency market.
It goes without saying that one small country, like South Korea, cannot affect cryptocurrency market (that has market capitalization over half trillion) so much. After all, all investors do not live there and not every user of cryptocurrencies is not South Korean. Then why did this case have so dramatic effects? The idea is that when one country imposes regulations on certain type of industry, there is the expectations from investors and users that other countries will also impose that kind of regulations. So, this case had kind of chain reaction and small changes have caused huge consequences.
Now let`s discuss how this case relates to the DeepOnions. A few days ago DeepOnion reached 18 dollars. After this case it lost half of its value. This case proved that it does not matter whether it is new or obsolete, big or small, cheap or expensive cryptocurrency. If something like this happens, it affects all kinds of cryptocurrencies, because it affects overall expectations and not only some special type of cryptocurrency. Thus investors temporarily lost their interest, got scared and their expectations caused this drop in the cryptocurrency market.
What is happening now? Cryptocurrency market step by step returns to the previous state and tries to gradually gain its value again. All cryptocurrencies started restoring. Now the price of DeepOnions is 11 dollars and last trend shows that its price will not stop rising until it returns to the previous state and then it will try to increase in the size more and more.
Thus, this temporary fall in the cryptocurrency market was caused by changes in the South Korean regulations, but the market is restoring now and it will soon reach righer points.