South Korea May Not Ban Cryptocurrency Trading At All

Bitcoin стремительно дорожает

The original cryptocurrency gained more than 1,300 per cent past year, capped by a lifetime peak just shy of $20,000 on December 17. However, it rebounded on Monday to $11,050, showing a 5% gain.

Top cryptocurrency bitcoin recovered to $11,000 on Monday, having nearly doubled in value since hitting a low of $6,000 earlier this month. However, while the majority of investments have some volatility, the Bitcoin price and value has been all over the place when compared to more traditional financial investments such as stocks.

This is fantastic news for the cryptocurrency, and shows just how tough it can be. Thousands of millennials trade daily on the different cryptocurrency exchanges available in the country.

Since January mid there was a huge crash in the cryptocurrency market.

Bitcoin, Ethereum, Ripple, and other cryptocurrencies "could drop to near-zero at any time", Buterin said.

In critical comments made today, South Korea's Financial Supervisory Service (FSS) chief Choe Heung-sik said the government will back the digital currency industry to develop in the nation.

No one knows how the price of Bitcoin will change tomorrow. According to some others, however, his remark implies that the South Korean government is planning to allow to some extent normal cryptocurrency trading that is based on trader identification and free from concerns over money laundering with its regulations remaining effective as evidenced by the recent sharp decline in cryptocurrency trading volume. According to HanKyoReh, one of South Korea's largest media outlets, the demand for the cryptocurrency is surging now, for the first time since the middle of January.

Moreover, predictions of sustainable growth in bitcoin prices from key analysts have been adding to bullish sentiments.

Tom Lee, a major Wall Street strategist also has nothing but praise for Bitcoin and has predicted that the virtual currency will hit a high of $25,000 this year. "But many have bought this dip and have added since the rebound and additional regulatory clarity in the United States and Asia".



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