The BITCOIN rose nearly two percent or more than $ 230 on Monday, completing the corrective actions it started last weekend following South Korea’s finance minister saying last Friday that the BITCOIN proposal by the Justice Department needed consultations among ministers. It may take months or even years to issue a law banning petcoin trading in his country.
At 07:24 GMT, the digital currency BITCOIN was up 1.74% to $ 13,886.00, compared to the opening levels of $ 13,647.99 after reaching a high of $ 14,394.36 and a low of $ 13,429.25.
The South Korean finance minister said last weekend that thousands of citizens had submitted requests to the presidential office to stop the crackdown on BITCOIN transactions. South Korean authorities said later that investors and traders of encrypted digital currencies would be allowed to convert their virtual accounts into accounts with the real name Before the end of January to avoid imposing harsh sanctions on them.
The BITCOIN currency resumed last week the weekly retreats that began after the release of its futures contracts on the Chicago Mercantile Exchange and by the CME Group on December 18, when it reached an all-time high of $ 19,666, which ended in the first weeks of this year before To see last week negative news from South Korea.
BITCOIN fell on Thursday to its lowest level in three weeks and the gains since the beginning of 2018 have dried up as tightening measures in South Korea have been tightened. South Korean Justice Minister Park Sang said the ministry is working on a draft law banning digital currency trading. Another report on South Korea’s work will also help to create legislation on the illegality of hidden accounts.
Last Tuesday, CoinMarketCap announced South Korea’s price hikes without notice, commenting on the exclusion of some South Korean bourses from price hikes due to strong price movements different from world prices, following the government’s sweeping inspections of South Korea. Banks suspected of possessing trading balances on digital currencies are there.
Most of the other digital currencies recorded declines, while some other currencies rose
- ETHERIUM retreated nearly 4% to $ 1,307
- BITCOIN CASH fell more than 3% to $ 2,442
- RIPPLE fell more than 2% to $ 1.78
- ETHERIUM CLASSIC fell nearly 2% to $ 41.63
- LITECOIN rose by about 1% to $ 238.1.