Price Analysis, Jan 16: Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, and Cardano

The past few days have seen a series of flip-flops on news. First was the news of the Korean government banning cryptocurrency trading that led to a sharp fall in prices. Then came the rebuttal that there was going to be no ban in the near future.

The latest news from South Korea is that they have still not given up on the plan to shutdown cryptocurrency exchanges. The markets reacted with a selloff in all virtual currencies.

The second news was that Ripple had partnered with MoneyGram for money transfers.

This shows that the traders should not impulsively buy or sell on any news. It’s always better to wait for a trend to form and then buy into it. Is the current fall a buying opportunity or is there more to go? Let’s find out…

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