Guard and round bitstamps
Thank you for signing up. Sorry, it looks like an error occurred. Bitcoin tumbled 18 per cent to a four-week low close on Tuesday, with traders describing it as a 'cryptocaplyse'. Guard and round bitstamps drop came after reports that a ban on trading of cryptocurrencies in South Korea is still an option, driving fears of a wider regulatory crackdown. The cryptocurrency has fallen nearly 40 percent since its all-time high," noted David Madden, market analyst with CMC Markets.
Bitcoin's slide triggered a massive selloff across the guard and round bitstamps cryptocurrency market, with biggest rival Ethereum down 23 per cent on the day, according to trade website Coinmarketcap, and the next-biggest, Ripple, plunging 33 per cent. Last week saw prices sag after the South Korean government said it was planning to ban cryptocurrency exchanges. South Korean news website Yonhap reported Finance Minister Kim Dong-yeon had told a local radio station that the government would be coming up with a set of measures to clamp down on the "irrational" cryptocurrency investment craze.
Cryptocurrency Bitcoin has seen a large fall. Though it later backtracked -- while Justice Minister Park Sang-Ki said Seoul was preparing a bill to shut down the country's virtual coin exchanges to slam the brakes on a craze which "has started to resemble gambling and speculation.
South Korea is a hotbed for cryptocurrency trading, accounting for some 20 percent of global Bitcoin transactions, while much of the "mining" -- computerised creation -- of the coin units is undertaken in China. The Trump effect and Bitcoin: Economy year in review. Cryptocurrencies enjoyed a bumper year in as mainstream investors entered the market and as an explosion in so-called initial coin offerings ICOs - digital token-based fundraising rounds - drove demand for bitcoin and Ethereum, the second-biggest digital unit.
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