Bitcoin fell sharply to $ 9,500

[Hacktor]

Bitcoin, the world's most well-known digital, declined massively on online trading platforms to $ 9,500 per unit after China took more action against its digital coins and mines, while South Korea's plan their ban to protect the population of speculative investment.

South Korea is one of the countries with the largest demand for cryptocurrency in the world, alongside China and Japan.

The Seoul Ministry of Justice announced that it will prepare a law banning virtual currency trading on domestic platforms. It announced that it exudes "big worries" over digital coins.

The institution has not detailed, but the main concerns about the digital coins are two: that they are used by criminal groups for money laundering and financing, including terrorist attacks, but also for the protection of people. In particular, they can easily lose their savings invested in these virtual coins.

 

[Zolin]

South Korea has already stated their case and has said that it won't prohibit the market of cryptocurrencies, and that is understandable actually. A lot depends on it. But China is disappointing me, maybe it's also manipulating the cryptocurrency market.

 

[Zolin]

I think bitcoin is going to drop and grow in its price several more times, but eventually it'll reach a very good price. The main thing is for investors not to abandon it on its way.

 

[Toros]

This is the trend of Cryptocurrency and Bitcoin. The price and value will rise and fall. Especially in the tax season, there is pressure on the cryptocurrency. But do not worry, you will see in the coming days and weeks, it will sustain itself.

 

[Toros]

You don't need to worry about the price falling, my friend. I know many countries are taking measures against cryptocurrency but the impact will be short lived. Cryptocurrency and Bitcoin will continue to survive and its value will again rise.

 

[Zolin]

Bitcoin's value has been dropping for some time now. Its current value is around $6600. There is no need to worry about it now. If you observe the market for the past years, it will tell you that it is normal. So, don't worry and keep on investing in cryptocurrency and Bitcoin.

 

[Haert]

This year has not been good for Bitcoin. Its value has been dropping for some time now. Experts are saying that one of the biggest reason behind the drop is due to many ICOs been offered. People are investing in other digital currencies but the value will increase.