Bitcoin continues to show support at the $13,000 level as the price bounced off that mark twice overnight Friday.
Despite South Korea jawboning about banning the trading of cryptos, buyers hit the market to raise the price to the $14K level.News out of South Korea this morning seems to saying that the Seoul government may be moving to soften the blow against the ban.
South Korea has one of the world’s biggest private bitcoin exchanges, with more than 2 million people believed to own some form of digital currencies.
A petition signed by 40,000 South Koreans was sent to the president’s office demanding a stop to the banning of cryptocurrency trading.
The original ban request came from the Justice ministry without any consultation from the Finance ministry, which feels no drastic action should be taken since it would do harm to the economy.