Bitcoin in tandem with other main cryptocurrencies has continued nosedive for the second day in a row driven by anticipated policy tightening amid possible crypto trade ban in South Korea.
On the Bitfinex, bitcoin changed hands at $10,460.00 today (13% down d-o-d). The Tuesday decline was recorded at 18%.
Ripple was traded at $1.08 on the Poloinex (some 24% down d-o-d).
With lower prices, Ethereum fell to $96 billion in terms of the market value, Ripple – $45 billion, while bitcoin dropped to $184 billion, though remained the major one in the market.
As it was reported, after the 2017 hikes the start of this year was highly unstable for digital currencies. Investors lost optimism on a possible tightening of trading policy by the regulators.
The plunge in cryptocurrency prices is related to the probable ban on crypto trading by South Korea, which one of the major markets for digital coins (in particular, bitcoin and Ethereum). This move followed Beijing's closure of cryptocurrency exchanges last year.
According to Korea's finance minister, this issue remains under consideration.