Quote from: The Pharmacist on June 10, 2018, 06:56:34 PM

Quote from: finblockchain1 on June 10, 2018, 06:48:31 PM

More sources:
http://wallstreetpit.com/114667-bitcoin-btc-nosedives-amid-south-korea-exchange-heist/
https://www.fin24.com/Companies/ICT/bitcoin-tumbles-most-in-two-weeks-amid-south-korea-hack-20180610

Be careful when reading sources like that. Just like every other financial news source, they try to attribute price swings to various economic events--I can't tell you how many times I've read stuff like "stocks rally after jobs numbers improve" or some such. Two events might not be related at all, but they use this slick language that would make you think they are.

I never heard of this exchange, nor do I think an exchange hack could cause the kind of drop we're in the midst of. Lots of exchanges have been hacked and the effects are variable--definitely not reliably correlated. And I'm sure South Korea is a fairly big bitcoin market, but I don't think it's enormous. Meh. I'll keep an eye on the news, and thanks for posting this.

The thing you do said was right they are really trying to attribute price swings connected to those events but having these news doesnt really correlate or might even just a minor factor of such price decrease. $40M overall or total amount hacked isnt really suited to be the reason of 10% nose dive price decrease that we are seeing now.Its one of the factors but not totally the main reason and if you are here for how many years on crypto market these kind of scenarios are quite already anticipated to happen.