In the last hours the cryptocurrency has dropped by 10%. Why this fall in the value of bitcoin?
There are different variables that affect the price of bitcoin, but the most logical explanation for the fall of bitcoin we are feeling is quite far away, specifically in South Korea.
As it is typical in the market everything is based on the speculation that these provide to the different cryptocurrencies.
And the South Korean government has just announced the intention to ban the cryptocurrency trade, causing bitcoin prices to plummet and causing the virtual currency market to be in a state of confusion, without knowing that do with your investments. The Minister of Justice, Park Sang-ki, has just stated that the government was preparing a bill to prohibit the trade of the virtual currency in domestic exchanges. The end of the bubble?
Several analysts have warned that the price of this type of cryptocurrency is well above its real value, so it is expected that the bitcoin bubble and other virtual currencies will end up exploding sooner rather than later. They anticipate a further fall of bitcoin in the coming weeks.
Source: https://www.instagram.com/p/Bd3NGp4BYZU/?taken-by=criptomonedaskg
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