Korean Official In Charge Of Cryptocurrency Crackdown Found Dead

Korean Official In Charge Of Cryptocurrency Crackdown Found Dead

According to CoinMarketCap, the digital currency is topping $11,400 and that is the highest level it hit since January 30th, 2018.

Bitcoin rose above $11,000 on Tuesday for the first time since January as it had previously taken a fall below 70 per cent since the beginning of the year. However, it rebounded on Monday to $11,050, showing a 5% gain. During that period Bitcoin's price was trading between about $8,600 and $9,000. The downward trend continued in the New Year, with traders in cryptocurrencies and other such users seemingly losing faith in the cryptocurrency market. The figures are set to increase, as the confidence in the cryptocurrency world seems to be on the rise, particularly as the major digital currencies like Bitcoin and Ethereum have seemingly overcome the challenges caused by panic in the market as a result of perceived government legislation against trading and using cryptocurrencies. The last time it broke the $500 billion mark was in mid-December. There were fears that a ban on cryptocurrency trading could come into effect, but thankfully the new measures were not as strict as once feared, which has likely had a huge and positive effect on the price of the currency today.

The government launched a series of meetings of vice-ministers, led by Hong Nam Ki, minister of the Office for Government Policy Coordination, in late November a year ago to regulate cryptocurrency transactions and curb market overheating.

Schools on Lockdown in Jackson Township, Ohio, After Gunshot Reported
School officials said all extracurricular activities are cancelled for today and students are being released early. Furthermore, local authorities said that the initial police presence was out of "an abundance of caution".

Data-Orex is one of the leading exchanges for the digital currency, which allows users to buy and sell different types of digital currencies easily.

This week, cryptocurrencies recovered significantly after South Korea confirmed there would be no ban. Kay Van-Peterson, who is an analyst at Saxo Bank went one step further in an interview with CNBC, saying Bitcoin could in fact reach a high of $100,000.

"We expect rated banks to be largely insulated, given that their direct or indirect exposure to cryptocurrencies appears to remain limited", said Mohamed Damak, financial institutions sector lead at S&P Global Ratings. "But many have bought this dip and have added since the rebound and additional regulatory clarity in the USA and Asia".

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