Bitcoin and Ethereum plummet as South Korea decides on total crypto shutdown
THE value of two of the world’s most popular cryptocurrencies, Bitcoin and Ethereum, has fallen off a cliff after South Korea announced curbs on speculation ahead of a decision on a full shutdown, figures reveal.
The value of ethereum slid by around $60 starting its decline at 10.00pm UTC to start Tuesday in free fall.
While Bitcoin’s fortunes mirrored its competitor losing $380 in a single day.
South Korea has announced a curb on crypto futures and vowed the come down hard on any criminal activities involving illegal currencies.
The country, which had been a big player in the cryptocurrency boom, is now considering a full shutdown of all exchanges.
It''s political game?
After all South Korea is only a small part of the world. While it was always anticipated that governments will try to regulate crypto, quotes in South Korea are regularly 20% above western ones. This is showing evidence that the markets are already separated and government's decision should not have consequences for international markets.
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In my opinion i believe is only a game made by big guys to buy cheap cryptocurrency ,we will see after 2 month's
Maybe. I think holding is currently the best strategy. At least as long one is not able to invest even more.