Last few days we’ve seen a bear’s market. It is the result of shameless gossips about possible cryptocurrency ban is South Korea. Bitcoin and most of the altcoins have lost from 20 to 50% of their value. It takes two difficult days and only this early morning we’ve received an official announcement from South Korean authorities – NO BAN FOR CRYPTOCURRENCIES!
It’s a great news for a whole market and you can see it at Coinmarketcap. Even in the long-term ban is not looking possible. Here is an official commentary:
“The South Korean government has no other choice but to follow the regulatory frameworks and trends established by other leading governments. While there certainly exists a negative reputation attached to the cryptocurrencies, the government’s stance is to allow what has to be allowed, for the benefit of the South Korean market.”
Notice: South Korean cryptocurrency exchange BitHumb is one of the biggest in the world in terms of trading volume.