Bitcoin Price Down more than $1000 as South Korea Tightens Trading Activity

December 28, 2017 | By | Reply | 646 Readers More

BTC-USD dropped to the lowest price since December 25 as South Korea announced further measures to regulate bitcoin trading. The cryptocurrency is down $1037.20 from the open (-6.75 percent) at the time of writing. The move comes just two weeks after a South Korean exchange, Yobit, suffered a second hack and forced the business to declare bankruptcy.

South Korea Moves to Ban Anonymous Trading

The price of bitcoin reached a fresh low on December 28 at $13,500.00 on the Bitstamp exchange, falling by more than $1,000 over the course of the day’s trading session. BTC-USD opened at $15,418.12 after bears managed to push the market down $400 or so by December 27’s close.

South Korea is one the largest markets for bitcoin, with Bithumb being the largest exchange in the world by volume, handling more than $3.3 billion in the past 24 hours. The price of bitcoin trades above $18,000,…

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