Bitcoin Price Fall: Investors Hold, Saying Cryptocurrency Crash Is a 'Yearly Pattern'

An individual at one of South Korea's financial regulatory agencies said “Since banning cryptocurrency transactions outright will take a considerable amount of time  will look to the periphery of existing law and employ methods to maximize

Despite his current enthusiasm, Green urged caution over Bitcoin just last month.

Pan also reportedly called for imposing a ban on such services as online wallets, as they allow people to store virtual currencies. Officials are now weighing halting trading on exchanges. As a result, the value of Bitcoin fell by 18 per cent to $11,000 on Tuesday morning, although authorities in South Korea have faced opposition to their plans.

That was the lowest bitcoin had been since November, and was down nearly 50 per cent from its mid-December high. According to, a site that is quickly becoming the go-to price checker, just one of the top 100 highest valued cryptocurrencies isn't in the red over the past 24 hours. Ethereum, Ripple and the Bitcoin Cash lost respectively 12.41%, 19.16% and 15.51% early Tuesday.

South Korea had announced a curb on crypto futures and vowed the come down hard on any criminal activities involving illegal currencies.

However, despite these actions, China remains a honeypot for cryptocurrency trading - especially Bitcoin.

Australian Open: Novak Djokovic makes triumphant return from injury
The 32-year-old, who reached the semi-finals in 2017, needed just shy of three hours to secure a match with Tennys Sandgren. The second seed cruised to a 6-3, 6-4, 6-3 win in 1hr 39min and will next play German Jan-Lennard Struff.

The fear was fuelled with reports that South Korea was planning to ban trading in cryptocurrencies. "It seems they're getting wise and waiting for the market to even out before buying in again".

The impact of government decisions regarding the cryptocurrency market is heightened by software updates created to solve scalability problems, with developers relying massively on finding the right approach to the technical development of the blockchain.

The government originally rejected suggestions from a government minister to ban Bitcoin and other such currencies. Their eventual decision to ban mining farms can trigger a massive sell-off of cryptos, which will exacerbate the current situation.

Drop may be caused by worries about South Korean crackdown The drop may be caused, at least in part, by South Korea's Finance Minister KIim Dong-yeon's remarks on a radio program that "the shutdown of virtual currency is still one of the options" the government has.

In the last several months, South Korea has accounted for a significant portion of the trading volume in digital currencies such as bitcoin, ethereum and ripple. In addition, the issue with taxes and the decentralization that blockchain offers may also be heating the tension and the fall in cryptos this week. The decline appears to have spooked the market, with other coins selling off in at the same time.

Related News:

  • Claim From France: Henrikh Mkhitaryan To Arsenal Is Done

    Claim From France: Henrikh Mkhitaryan To Arsenal Is Done

    Sanchez passes in each case - he has only played in the Europa League, thus has not yet featured in the Champions League. Mkhitaryan has fallen out of favour at Old Trafford , starting only one Premier League game in over two months.

    Davis: We Should Speak Out Over Trump

    Senator Dick Durbin of IL , the only Democrat in the room, said Trump had indeed said what he was reported to have said. A fuller readout of President Donald Trump's health following his first medical check-up is expected later Tuesday.
    Jamai Raja actor Ravi Dubey congratulates Bigg Boss 11 victor  Shilpa Shinde

    Jamai Raja actor Ravi Dubey congratulates Bigg Boss 11 victor Shilpa Shinde

    Apart from winning Bigg Boss 11 , Shilpa was also the most talked about contestant of the season on Twitter. This comes as a surprise as Ravi Dubey was one of the fervent supporters of Hina Khan right from the start.
  • White House Doctor Says Trump in Excellent Health

    White House Doctor Says Trump in Excellent Health

    Tensions rose after Bannon informed the committee Tuesday he would refuse to answer questions in their closed-door meeting. Picture: GettyPicture: AFPCamera IconSpecial Counsel Robert Mueller wants to chat to Steve Bannon .
    Stokes available for England

    Stokes available for England

    The England and Wales Cricket Board has also given Stokes permission to play in the Indian Premier League, which starts in April. The ECB have consistently named Stokes in their squads this winter so as not to be seen to prejudice the legal process.
    Doctor: Trump in 'excellent' physical and mental health

    Doctor: Trump in 'excellent' physical and mental health

    Dr Jackson said he had not seen the need to include a cognitive component to the exam, noting that he saw the president most days. Trump's cholesterol of 223 is elevated and his low-density lipoprotein of 143 is borderline high.
  • Uber to introduce limit on drivers' hours

    Uber to introduce limit on drivers' hours

    He said the app planned to make other changes to the way it operates in the next few months. Uber has around 40,000 drivers in London and 50,000 in Britain as a whole.
    Eddie Howe: Bournemouth found inner strength to beat Arsenal

    Eddie Howe: Bournemouth found inner strength to beat Arsenal

    We have left him at home because of the situation", Wenger said after arriving at Bournemouth . We were 1-0 up and then we made two very surprising mistakes.
    Carillion collapse sparks United Kingdom  emergency meeting

    Carillion collapse sparks United Kingdom emergency meeting

    Shares in rivals such as G4S, Interserve, Balfour Beatty and Kier Group advanced on hopes they would pick up some additional work. Third, Carillion's rapid collapse could knock confidence in other providers of outsourced construction and maintenance contracts.
  • Drew Brees doesn't sound like he wants to leave Saints

    Drew Brees doesn't sound like he wants to leave Saints

    Of course, the Saints could move on from Brees with one of the quarterbacks available in this year's draft. The season began differently than it ended for New Orleans Saints rookie running back Alvin Kamara.
    Petrol, diesel get more expensive: Find out fuel price in your city

    Petrol, diesel get more expensive: Find out fuel price in your city

    For the past few months, consumers have seen the prices going northwards - trend which is not going down well with a lot of them . In October, demands to bring petrol and diesel under Goods and Services Tax were made after no respite from rise in fuel prices.
    Trump orders CNN's Jim Acosta out of the Oval Office

    Trump orders CNN's Jim Acosta out of the Oval Office

    As Trump finished his statement, Acosta moved to inquire about the immigration meeting where Trump spoke of "sh*thole countries". When asked if he wants immigrants to come from Norway, Trump responded "I want them to come in from everywhere".

Most liked

Walt Disney Co (DIS) Shares Bought by Courier Capital LLC
The Walt Disney Company (DIS ) shares are up 0.61% for the week and that has got investors and traders sitting up and taking note. Comerica Bancorporation, Michigan-based fund reported 547,781 shares. 75 funds opened positions while 167 raised stakes.

The Internet Is In Love With Google's Fine Art Selfie-Matching App
The tool is available via the Google Arts & Culture app , but so far it hasn't shown up in every user's app. Using a VPN service will allow you to use the selfie matching feature everywhere, including in India.

Net neutrality's latest hope: 22 state attorneys general file lawsuit against FCC
This would be a disaster for NY consumers and businesses, and for everyone who cares about a free and open internet. Fifty senators have endorsed a measure to overturn the Federal Communications Commission's net neutrality repeal.

"It's so terrible :" Girl fatally pinned between vehicles had battled cancer
Raphael Catholic School, confirmed with CP24 that the child was in senior kindergarten at the school. The school will also hold a memorial for the girl in the coming days, the TCDSB said.

Close to the Brink on a Government Shutdown
House GOP leaders are crafting legislation that would keep the government funded through February 16. This especially includes if he says the word "bipartisan" or has warm words for Democrats.

Dr. Ronny Jackson's glowing bill of health for Trump
Presidents aren't required to get a checkup, but modern presidents do so regularly and release a doctor's report on the findings. Jackson said Trump "actively asked" him for the cognitive exam so he could put to rest speculation over his mental fitness.

Carnival Corporation (CCL) CFO Sells $299937.40 in Stock
Barrow Hanley Mewhinney & Strauss Ltd Liability Corp holds 0.19% in Carnival Corporation (NYSE: CCL ) or 2.00 million shares. PolyOne Corporation provides specialized polymer materials, services and solutions in the United States and internationally.

Labour rule out cross-party Brexit amendment
The founder of the grassroots campaign set up to support Jeremy Corbyn has won a place on Labour's ruling body. The Labour leader told ITV's Peston On Sunday: 'We are not supporting or calling for a second referendum .

Sean Payton ducks questions about Drew Brees' possible future with the Saints
Then, at noon - Saints sideline reporter Kristian Garic will join us to size of the Saints season...and look forward to needs in 2018.

Donald Trump really thinks he would beat Oprah in a Presidential election
Support for a possible presidential bid erupted after Winfrey's rousing speech at the Sunday's Golden Globes . That's an understandable reaction, considering Winfrey's past endorsements of Obama and Hillary Clinton .

Firms & Funds Favorite: Tractor Supply Company (NASDAQ:TSCO)
Moreover, Brant Point Invest Management Limited Liability Company has 0.3% invested in Tractor Supply Company (NASDAQ: TSCO ). Globeflex Capital L P bought a new position in shares of Tractor Supply during the 2nd quarter worth approximately $206,000.

Cat Deeley Is Pregnant, Expecting Second Child with Patrick Kielty
Can't wait to be a family of four in the spring. "So, we're just delighted and excited and all those things". While another said, "Congratulations so happy for you and your family ".

Trump's alleged use of racially charged slur prompts heated Senate debate
Asked Tuesday about Trump and some Republicans challenging his honesty, Durbin tells reporters, "Politics ain't beanbag". Overall, her "performance", as President Trump likes to call his scenes before the cameras, was a disaster.

Incredible incident sees referee kick out at player, then send him off
He apologised on Monday, saying Carlos had bumped into him but that his own reaction had been "clumsy" and "inappropriate". Whistler Tony Chapron will not be available to officiate Wednesday's Ligue 1 relegation scrap between Angers and Troyes.

Trump denies remark about Kim
North Korea has hit back at US President Donald Trump after he made claims about the size of his nuclear button. "Sure. I always believe in talking", he told reporters at Camp David.