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Here’s why cryptocurrency prices are tanking right now

“Finally, it is fairly typical for the cryptocurrency market to shrink mid-January” writes Stan Schroeder for Similarly, the cryptocurrency market cap had shrunk from $7.5 billion to $6 billion from Jan. 8 to Jan. 16, 2016, before continuing on an upwards trajectory.This had happened in January 2017, when the total cryptocurrency market cap declined from 21.9 billion on Jan. 5 to a low of 14.4 billion on Jan. 12.Even though other branches of government later said the ban is not finalized, the country’s stance towards the cryptocurrency market does seem to be getting tougher.Last week, South Korea’s Justice Minister Park Sang-ki said the country is preparing a ban on cryptocurrency trading.

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