Bitcoin crashes 20% on South Korean FUD

As I wrote on Monday, bitcoin had been showing strong price support at the $13,000 level.

Well that support cratered early Tuesday morning in NYC trading as the price fell more than 20% to $10,600 by late afternoon. Continue reading

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Bitcoin bounces off support as S. Korea backs away from ban

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. Continue reading

S Korean government bitcoin crackdown

Bitcoin fell more than 10% overnight on fears that the South Korean government crackdown on cryptocurrency trading, which could lead to shut down of the exchanges.

The new moves by Seoul are seen as a way to curb growing speculation and fraud after one exchange went bankrupt last week after suffering a second hack. Continue reading