Bitcoin and ripple cryptocurrencies faced crash across the market.
Previously Bitcoin price worth near about $20,000, but as far now Bitcoins and its competitor cryptocurrencies down drastically. After facing this massive drop still Bitcoin is most dominating cryptocurrency and still popular than any other Decentralised currency available till date.
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Bitcoins experts telling that, South Korea is seeking to force new laws on digital currency trading. So this is the major reason for sudden fall of popular cryptocurrencies.
China and Vietnam already forced some terms and regulations measures to tackle and manage massive adoption of cryptocurrencies.
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The South Korean government said in a statement and warned several times that virtual coins cannot play a role as genuine currency.
BlackWallet also faces an issue, Blackwallet provides of digital wallet services, experienced a sharp attack that allowed to capture a huge amount of “lumens”, the virtual coin used by a system called Steller and it worth’s near about $400,000.
As we see, all the cryptocurrency is fallen down suddenly after huge growth. Ethereum was down 21% to $1,046, Bitcoin’s was down up to 15%.