The digital currency BITCOIN fell by about 8%, or more than $ 1,200 on Thursday, to its lowest level since the last 2017 sessions following South Korean Justice Minister Park Sang-Ki’s earlier comments that the ministry was drafting a bill banning digital currency trading across the stock exchanges. Other that the government in South Korea is also working to develop illegal legislation hidden accounts that are used in money laundering.
At 07:29 GMT, the digital currency BITCOIN fell 7.99% to $ 13,700.00, compared to the opening levels of $ 14,899.99 after hitting its lowest since January 2 at $ 13,412.00, while recording a high of $ 14,700.00.
BITCOIN has been under pressure since the beginning of this week, especially amid negative news from South Korea, which included CoinMarketCap’s announcement on Tuesday that South Korea’s prices had been dropped without notice, pending the exclusion of some South Korean bourses from price hikes due to moves Strong price and different from international prices.
In addition, South Korea’s regulatory authorities are still locked in a crackdown on BITCOIN, where they conducted extensive checks on banks suspected of having currency trading balances during their efforts to control currency trades. Local trading platforms and financial institutions that are guaranteed to participate in such transactions.
The Wall Street Journal reported on Wednesday that the Chinese authorities had taken the decision to stop mining operations from BITCOIN based on the direction of a government agency that supervises the dangers of Internet in China to stop the mining operations, and we would like to point out that 75% of the capacity Global mining on BITCOIN comes from China.
Numerous other digital currencies recorded declines, except for RIPPLE, which rose after MoneyGram announced some pilot tests to incorporate Ripple.
- BITCOIN CASH declined by about 13% to $ 2,486
- ETHERIUM CLASSIC was down about 9% to $ 33.04
- LITECOIN dropped by about 9% to $ 227
- ETHERIUM retreated more than 7% to $ 1,150
- RIPPLE rose more than 2% to $ 1.99.