Although this is unlikely, the mere potential of
this causes FUD in the market.
Part of what
caused FUD that was witnessed in the earlier hours of today was misinterpretation of what the minister had said and Rashmi Deshpande, associate partner at Khaitan & Co, a leading law firm is quick to point out that;
Not exact matches
cause for the market wide plummet yesterday in cryptocurrencies could simply be a case of
FUD («Fear, Uncertainty, Doubt») among new investors panic selling in the face of all of these regulatory actions or initiations by major world economies.
FUD can
cause the perceived value of a cryptocurrency to drop.
This
FUD news
caused the cryptocurrency market, which in the morning demonstrated slight growth returned to decline, falling to $ 472 billion in capitalization.
As prices continued to sink, widespread
FUD caused people to panic - sell, and the moniker «Black Tuesday» sank in.
If Binance was the sole
cause of the recent correction, the market should have bounced back immediately after Binance CEO CZ and the company issued statements to clear the
FUD.
Nevertheless, the
FUD — Fear, Uncertainty, and Doubt —
caused by the Minister's comments and the misleading reporting on them evidently led to a cryptocurrency sell - off that same day.
Bitcoin (BTC) has fallen back below $ 8,000, as the crypto markets continue to slump in the wake of a week of mixed crypto news, ranging from the
FUD fallout
caused by the upcoming Google crypto ad ban to several wins for Blockchain adoption seen in China and Canada.
Elsewhere, it almost feels like governments are toying with regulations in an attempt to
cause fear, uncertainty, and doubt (
FUD)-- only to lower the value of various cryptocurrencies for personal gain.
The latest installment of
FUD was
caused by speculation that governments could be orchestrating a major crackdown on cryptocurrency trading.