Bitcoin had his price rise up like Skyscraper this December 2017 but eventually, it had started falling and its falling like a slide ( Now down to $14000). Bitcoins price had an intense rise up for about 10 continuous days. The blow to Bitcoin cryptocurrency eventually started from South Korea, where the government was eyeing the Bitcoin taxes and potentially shutting off at some Bitcoin exchanges.
Bitcoin fell down more than 9 percent which is approximately $13,828 decrease, erasing modest gains after the South Korean release, composite Bloomberg pricing shows. The cryptocurrency is down to $14000 as seen at 9:53 am. It’s now down 28 percent from the record $19,511 it reached on Dec. 18, 2017.
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“Cryptocurrency situation has been irrationally overheated in Korea,” the government said in the statement, that they will be filing a case against the Active bitcoin trading and exchanges on the huge amount“The government can’t leave the abnormal situation of speculation any longer.”
While the Government of Singapore warned last week that digital currency buyers should be aware they could lose all their money, joining counterparts who’ve warned about speculative mania surrounding bitcoin, which has surged more than 1,300 percent this year.
According to the Government ” They want to save their people from getting huge losses which they expect to come for the downfalling of the Bitcoin so to counterpart this they enforced taxes on bitcoin when purchasing on a Huge amount and Stopped certain Exchanges on the Market.