Ripple, the third-biggest, has lost 18 percent of its value over the past 24 hours and was quoted at $1.03, down from a high of $3.81 on January 4. This news comes after the government closed cryptocurrency exchanges and significantly impacted the country's cryptocurrency scene, as well as the current steps towards banning initial coin offerings.
"These are all things that people have bought in the past, driving them to absurd prices, not because they did anything useful or produced money or had social value, but exclusively because people thought they could sell them on to someone else for more money in the future".
However, unlike other countries, it is not just the tech-savvy who have jumped on the Bitcoin band-wagon, but ordinary workers, housewives and even children, many of whom would never trade traditional stocks.
The cryptocurrency crash is here
"There are no disagreements over regulating speculation", such as using real-name accounts and levying taxes on cryptocurrency trading, Finance Minister Kim Dong-yeon is reported to have said this week.
"I think regulation and interference by governments is one of the biggest challenges facing bitcoin", Craig Erlam, a senior market analyst at currency trading firm Oanda, told USA TODAY.
The South Korean government is seeking to ban the cryptocurrency. Don't blindly invest in something without doing proper and thorough research, and never invest what you can't afford to lose.
Mr Aguillon, meanwhile, said the expiry date of the first bitcoin futures was approaching, which may also go towards explaining the sell-off. Other currencies like Ripple, Ethereum, BitcoinCash and Litecoin have experienced steep falls.
Analysts attribute the drop to concerns over possible new regulations, including perhaps a ban on its sale in South Korea, where some of the major cryptocurrency markets are located. While it has not been a good week for bitcoin, and cryptocurrency as a whole, it is safe to say we will definitely be seeing more news from it in the coming months.
Police Provide Update in Greyhound Bus Incident
Sheriff Schmaling says Vargas-Rosas continued to make threats to kill law enforcement during his transport to jail. The situation led police to chase the bus, and then stop it with spike strips on the IL side of the state line.
England were thrashed 4-0 in the five-Test Ashes series by Australia but have had better results in the 50-over format. Smiles are now back on English faces as they travel to Brisbane on Monday for Friday's second ODI at the Gabba.
This will be a huge increase from the $4.5 billion the automaker announced it would invest by 2020 in December 2015. Ford is to bring a high-performance electric utility vehicle to market by 2020. "For us, it's not just compliance".
The brand sold only 10,523 Navigators a year ago , far behind competitors in the segment such as the Cadillac Escalade. Today the highly coveted North American Car, Utility and Truck of the year awards were announced .
Ivanovic's death raises questions over global peacekeeping in the region, an area critics say is unable to govern organized crime. Prominent Kosovo Serb politician Oliver Ivanović was killed in a drive-by shooting outside his party headquarters Tuesday.
Several of the Arizona Cardinals' head coaching candidates remain busy with their teams in the National Football League playoffs. He later returned to Philadelphia as Chip Kelly's offensive coordinator before landing with the Vikings.
Authorities did not release the names of the injured police officer and sheriff's deputies, nor their injuries or conditions. Multiple agencies then began "actively looking for the suspect" and issued emergency alerts to area residents, Faris said.
The last time Peru was struck by a massive quake was in November 2015, when a 7.6 natural disaster struck northwest of Iberia. At least two people have died and 17 others went missing after an quake of 7.3 magnitude hit Peru's coast on Sunday.
Edmund Allenby in the 1918 Battle of Haifa; as well as a the monument where Mahatma Gandhi's remains are located. He is expected to visit the Teen Murti Memorial honoring Indian soldiers who fought under British Gen.
DOJ Appeals Judge's Ruling Stopping Trump From Ending DACA
The program, also known as DACA, provides protections and work permits to individuals who entered the USA illegally as children. The DOJ has appealed a lower court's decision in The Regents of the University of California and Janet Napolitano v.
Google unveils $30bn infrastructure investment plans
The HK-G, an acronym for Hong Kong-Guam, is another consortium cable interconnecting major subsea communication hubs in Asia. The Google Cloud Platform (GCP) region, which is now live in the country, will encourage more local firms to adopt Cloud.
Australian Open- Day 1 Highlights
It was her eighth successive defeat since her maiden grand slam triumph. "I didn't play so bad, I wasn't missing every shot". Stephens was also forced to withdraw from the Brisbane International because of a right knee injury.
Chelsea FC draw 0-0 at home vs Leicester City
Given the speculation surrounding their manager, it was intriguing to note the response of Chelsea fans. As for Fabregas, the Spaniard makes Chelsea tick and without him they lacked creativity in midfield.
Treasury releases withholding tables for new tax law
Notice 1036 also said that employers could withhold on supplemental wages of up to $1 million at a flat rate of 22 percent. There are also new limits on the mortgage interest deduction, and the child tax credit was expanded.
Vikings Playoff Preview: 3 Keys to Beating the Saints
How can I watch the Saints and Vikings? As for the Lions, they have once again reverted to the mediocrity they are famous for. That came a month after the Vikings decided not to pick up an $18 million option on Peterson's contract for 2017.