Market After the Hack of Bithumb. After yesterday's hack of the Bithumb Exchange, the market capitalization decreased by 10 billion US dollars. Today, the situation has become better. The fact is that Bitcoin slightly increased in price and thereby added to the total market capitalization of digital assets - $8 billion.
During the day, after it became known about the hack of the Bithumb trading platform, such cryptocurrency assets as Bitcoin, Ethereum, Ripple and Bitcoin Cash declined in value by 2%. We note that South Korean investors, both in the cryptocurrency market and in the foreign exchange market, began to sell their assets, fearing that breaking the Bithumb exchange could lead to more serious consequences.
At the same time, representatives of the exchange, immediately commented on the current situation:
"The damage done to users will be repaid by Bithumb. Now, all the cryptocurrency assets are transferred to a cold wallet."
Having made more than 300 million dollars of net profit in 2017, the stolen $30 million isn't a serious problem for the crypto exchange. On this background, the company asked the regulatory authorities to take measures to combat such situations and, accordingly, their prevention in the future.
Yesterday the experts expressed optimistic assumptions regarding the state of the cryptocurrency market. First of all, in this case there was talk about Bitcoin and Ethereum. The fact is that they avoided serious falls. In particular, the BTC hasn't fallen below 6.2 thousand dollars.
At the same time, due to the low volume of the entire cryptocurrency market, it is difficult to say that the "bears" still lost control over it. It is still possible that the BTC may fall to below $6,000. In the same case, if bitcoin grows to 7 thousand, the key resistance level will be broken and the digital asset will have chances to grow further. Today, investors simply have to watch the situation on the market@BPI
