The coin fell to Japan and South Korea stock market fell, the European Central Bank said bitcoin is the financial world cancer”

Yesterday, the encryption money market plunge, market capitalization fell from $210 billion to $183 billion. In 6 months, bitcoin fell below $6000 for the first time.

Encryption currency market fell while had an impact on the traditional financial sector, especially large digital asset markets, such as Japan and South korea.

At the same time, the euro currency bitcoin chief economist published his views: “bitcoin evil is the product of financial crisis.”

South Korea financial giants fell

There are several large block chain project Japanese banking giant SBI Holdings’s, in the currency market fell yesterday at the same time, the company’s share price fell 3%.

From Tokyo eWarrant Japan Securities trader Soichiro Tsutsumi said that due to market adjustments, such concerns associated with crypto currency corporate investors stock may stagnate in the medium term, many people choose to sell SBI Holdings, resulting in large gold such financial institutions fell.

Bitcoin prices stay at $6000 for a long time, but now the below $6000 — it is a dangerous signal. The largest companies influence currency market price volatility is the company that rely on in the business to customers, because they worry about the number of customers no longer continue to grow.

Even in the long term bullish on several mainstream encryption currency Fundstrat said that in November 15th the money market fell after encryption may cause the digital asset mainstream undergoes a period of adjustment from weeks to months.

Tokyo shares of listed companies

Fundstrat Global Advisors partner Rob Sluymer said:

To bring a significant impact this week’s decline. It may take several weeks or even months time to reply, in order to create a lasting price structure to support the months of gains.

After the currency crash, Monex shares of listed companies is the largest decline, probably because it is actually the holder of the Coincheck. Before the 1 month stolen 5 billion, Coincheck has always been Japan’s largest encryption currency exchange. After being acquired Monex, Coincheck has made Japan’s financial services agency (FSA) issued a license, and the resumption of trading.

Encryption is expected to affect the money market of Japan and South Korea are short-term financial industry. Because of the digital asset market in a few months for the first time the stock market volatility, leading investors to panic. As the market gradually stabilized, effect of encryption currency market to the stock price of listed companies will be weakened. But this does not mean that all of the negative views of crypto currency will disappear.

The European Central Bank: bitcoin is the financial world cancer”

The euro zone’s chief currency economist mentioned bitcoin in yesterday’s speech. He said this encryption currency is a “very wise” concept “, but there are many problems”.

Members of the European central bank executive committee Benot Cur mentioned in his speech, encryption technology and currency the central bank can how to use this technology in the process of payment.

He mentioned that Nakamoto bitcoin released a white paper during the economic crisis, the block was quoted in the times headline “was the chancellor of the exchequer Darin was forced to consider secondary bank crisis relief shot.” He said:

In many respects, bitcoin evil is the product of financial crisis.

However, Cur does not deny that bitcoin is very wise. But he agreed with the bank for International Settlements (BIS), n Carstens Agust responsible for the view that encryption currency is “set bubble, Ponzi scheme and environmental disaster”.

Cur said:

I am in Basel tower (the meeting venue) said this sentence may be struck by lightning, but bitcoin is indeed a very sensible concept. Unfortunately, not every wise concept is a good idea. There were many before the blockchain before the opportunity, but there are many problems in bitcoin. I think Agust n Carstens very good, “he said bitcoin is a collection of bubbles, Ponzi schemes and environmental disaster.”.

The French economist also mentioned that although the encryption currency to the center of the critical attitude, more than two-thirds of the central bank are studying how to use the distributed technology books (DLT) to create a digital currency (CBDC), the central bank to expand cross-border remittance and payment services. However, he stressed that the central bank will issue a digital currency may not be within the next 10 years.

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