WHY BITCOIN FALL BELOW $10000 ?
After touching it all time high of $20,000 on Dec 17 2017, Bitcoin plunged to $9,402 on Jan 17 2018. Bitcoin, Ripple and all cryptocurrency were trading in red on wednesday.
The biggest factor driving the current Bitcoin crash is due to the bad news continued to came from south korea regulators that they are going to close down all the crypto exchanges, shook the entire digital currency market.
On 16 Jan, Finance Minister of South Korea Dong-Yeon repeated that ban on crypto trading is still very much a live option.
In parliament, South Korea's chief of the Financial services commission said "The government is considering both shutting down all local virtual currency exchanges or just the ones who have been violating the law ".
LATEST UPDATE
After few days of turbulency in cryptocurrency market once again Bitcoin has started recovering its value on 18 Jan, after the news that there will be no ban on cryptocurrency in South Korea.
As for recent news a task force will review the proposal to shut down the crypto exchanges.
South Korea's authorities say a ban will not be introduced in the near future. The president of South Korea has said the people can relax as South korea will not ban cryptocurrency
