The bitcoin exchange rate plummeted after the announcement of the abolition of privileges for kriptonite in South Korea

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Stock Markets Group – Bitcoin to the end of the trading day, suddenly collapsed and exceeded $ 8,000, losing at the end of trading 3.77%.
Negative news from South Korea was able to consolidate sellers and push the most popular cryptocurrency for the psychological mark. Just over an hour the Bitcoin price has lost more than $ 400 and continues to fall, recording new lows in recent days.

The exchange rate of bitcoin crashed after the abolition of benefits for kryptomere

The cryptocurrency market at the end of the day they seized the General pessimism caused by the message that the crypto currency exchange in South Korea may lose tax benefits.
We will remind that earlier the government passed a law in which cryptocurrency platform was able to reduce tax charges to 100% on par with startups and small companies.
But on Monday it became known that the government believes that operations with bitcoin and cryptocurrencies are not effective in creating value added, in connection with which the company is engaged in cryptobiina will be excluded from the list of beneficiaries.
The new project will be presented to the National Assembly on 31 August for discussion in Parliament, and adoption timing on the introduction of amendments.
However, this time the government is more loyal went to blockchain startups that will be able to continue working under the same conditions to obtain tax benefits. This, according to officials, are the steps that in the future the government considers support for projects involved in the development of new technologies in the country.
We will remind that earlier in mass media there were reports that the South Korean authorities are considering the possibility of reducing pressure on cryptonote, however, experts believe that these innovations do not greatly support the exchange rate of bitcoin, since, will not deal directly with the merchants tokens. It is expected that if innovations take place, they will likely affect the taxation system of cryptobytes.
Bitcoin exchange rate reacted to the message an even greater decrease, and at the moment the main cryptocurrency collapsed and has reached level 7 914 USD.
Courses cryptocurrency of the first echelon have fallen behind bitcoin and also in deep red. So Bitcoin is Cash fell to 5.27% and is close to 788 dollars. The rate of Ripple lost to the current time of 3.57% is 0.4373 USD. Ethereum is not far behind from the rest of the tokens, and its rate dropped to 3.95%.
The market capitalization of bitcoin has dropped currently to 137 196 billion dollars losing at the end of the day $ 3 billion.
Technically, the most popular cryptocurrency has broken the important psychological level and continues to fall to around 7 $ 600.
In the current situation, buyers try to lock in the value of bitcoin in the area of $ 8,000, where the moving average to later re-open a position to buy.

Graph of bitcoin exchange rate

Курс биткоина обвалился после сообщения об отмене льгот для криптобирж в Южной Корее
It is too early to talk about lifting upward trend, but the fact remains too rapid achievement of the cryptocurrency proposed pivot point up and completion of the technical correction.
Thus, it can be expected that in the next days the exchange rate of bitcoin will start a new wave of growth, but only under the condition of positive externalities.
Курс биткоина обвалился после сообщения об отмене льгот для криптобирж в Южной Корее
Sergey Titov,
Market analyst cryptocurrency
Stock Markets Group™