Bitcoin has finally gained, and is at the top of the USD9.000 psychological key level. Bitcoin hit a 10-day high, amid improving sentiment about government regulations.
Crytocurrency rose 9.7 percent to USD9.346, the highest since Feb. 4, according to the CoinDesk bitcoin price index that tracks prices from four major exchanges. Bitcoin price is still rising approximately 9 percent close to USD9.313.
The latest report on South Korean regulations marks a better approach, in contrast to fears in recent weeks that the Korean government will close the crypto trade.
Reporting on CNBC, a Korean government official involved with the virtual currency said the country is considering additional rules, similar to "BitLicense", which is also requested by the New York Department of Finance.
Separately, the South Korean government plans to focus on actions against illegal activity in cryptocurrency trading. The minister from the Government Policy Coordinating Office, Hong Nam-ki, said the Korean government's basic rule is to prevent illegal acts, or uncertainty about cryptocurrency trade.
While blockchain technology, is expected to grow quickly. Nevertheless, he said the government is still divided with many opinions, ranging from the ban on trading kriptocurrency such as bringing institutions that handle currency into the system.
The statement was made in response to a South Korean online petition, which collects more than 220,000 signatures, to protest the cryptocurrency rules.
Bitcoin has struggled in the past two months, amidst some cryptococcal policies by South Korean regulators. The government imposed a ban on anonymous trading accounts by the end of January. Japanese cryptocurrency exchange CoinCheck, which experienced the biggest hack in the industry, also managed to resume the yen's withdrawal.
However, Bitcoin remains 30% lower this year. But with an increase of approximately $ 3,000 from the two-month low reached last week, just before the Senate Banking, Housing and Urban Banking committee on crypto crucial.
Chairman of the US Securities and Commerce Commission, and the Commodity Futures Trading Commission, said that federal agencies are trying to coordinate policies on crypto and protect consumers. Their comments also focus on arranging the sale of new digital coins, or early coin offerings.
Previously, Goldman Sachs estimates cryptocurrency alias crypto currency either sooner or later will experience the fall. In fact, the value of digital money is estimated to reach the lowest point at zero.
Goldman Sachs global investment research director Steve Strongin said that crypto-escalation has no "intrinsic value". According to him, it is unlikely that digital currencies will survive in the long run, as happened on "bubble internet in the late 1990s".
With many people who have taken advantage of the digital currency, the potential for depreciation must be taken into account. And because of the lack of intrinsic value, the unsustainable currency is likely to trade to zero.
Goldman's research came after a massive sell-off in the crypto market for the last few days, with its lowest point two days ago, bringing the valuation down to $ 550 billion. Bitcoin even slumped below $ 6,000 for the first time since November.
Strongin mentions this crypto period as an experiment and compares it with the bubble internet in the late 1990s. He said only a few existing companies could survive. Although Google and Amazon survive, their business forms are "very different".
