Markets Update: Exchange News from South Korea Brings the Bitcoin Bears

Cryptocurrency prices are sliding downwards since our last markets update, as the top ten digital assets are all seeing a loss of gains on January 8. BTC/USD markets reached a high of $17,200 on Saturday evening on January 6, but the value has dropped since then to a low of $13,900 per BTC. The price has since rebounded and is hovering between $14,800-$15,050 during this afternoon’s trading sessions.

Also read: Japan’s GDP Grows Due to Bitcoin Wealth Effect

FUD from South Korea and Coinmarketcap Data Brings a Price Storm

Bitcoin markets have seen a two-day decline since reaching its high of $17,200 this past Saturday. Yesterday afternoon the decentralized currency hovered just above the $16K zone, dipping to the $15,800 range a few times. On Monday, January 8, the price of BTC has sunk further taking most other digital asset markets with it. During the early trading sessions, (EDT) bitcoin prices touched $13,900 with around $15.8Bn in 24-hour trade volume. Many traders and cryptocurrency enthusiasts are blaming this week’s tumble on South Korea and its officials inspecting local banks tied to digital asset trading platforms.

Coinmarketcap excludes South Korean exchange prices from its aggregated global average.
Markets Update: Exchange News from South Korea Brings the Bitcoin Bears
Bithumb and other Korean exchanges have one asterisk explaining the exchange’s price is excluded from data.

Today the U.S. dollar is the top currency traded with BTC commanding 37 percent at the time of writing. This is followed by the Japanese yen Read More Here