Bitcoin goes down as South Korea hints at probable closures

Bitcoin goes down as South Korea hints at probable closures

On Thursday, bitcoin resumed its dip after South Korea told it was considering a number of options including a probable shutdown of some cryptocurrency exchanges to suppress wild speculation.

South Korea has appeared to be ground zero for a global soar in interest in bitcoin as well as other cryptocurrencies because their prices rallied in 2017, helping the Asian country’s prime minister to worry over the potential impact on Korean youth. While there’s no any signs that Asia’s number four economy is going to shutter exchanges, which have already accounted by some measures for more than fifth of trading worldwide, the news rolls out  a warning as more and more regulators around the globe express worries about private digital currencies.

In Asia, bitcoin dived 7.2% to $14,102, erasing moderate profits following the South Korean release. The cryptocurrency has lost 25% from its record maximum hit the previous week.

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