Korea

Bitcoin prices tumbled on Thursday, following news that South Korea’s government is considering a ban cryptocurrency trading. While the U.S. appears to have embraced cryptocurrency trading with the introduction of futures by the CME (Chicago Mercantile Exchange) and the CBOE (Chicago Board of Options Exchange), which are regulated by the CFTC and SEC, South Korea’s Justice minister Park Sang-ki said the government was preparing a bill to completely halt trading of bitcoin or other digital currency on domestic exchanges.

Investors from Asian countries have dominated the cryptocurrency markets. Behind bitcoin’s stunning rise lies a millions of individual investors from countries like China, Japan and South Korea. It is no surprise, then, that blockchain-based companies wish to expand their reach into the Asian market and reap this hugely profitable market.

Jamie Dimon, CEO and Chairman at JPMorgan Chase Chase & Co., managed to make quite a big fuss around cryptocurrencies, when he said last year that Bitcoin is a fraud. However, now he has changed his mind.

Some might think Monday is a tough day, but not for Bitcoin, as it has broken through a new all-time high of $17,000.

The week has been quite eventful for the Bitcoin market. BTC hit a new all-time high three times while increasing its price steadily.

Bitcoin’s price managed to stand strongly against the punch from the authorities of China, who have banned ICOs, but another left hook from the head of JPMorgan Chase & Co., Jamie Dimon, who called cryptocurrencies a "fraud", has drawn Bitcoin down sharply.

South Korea takes another step toward becoming the leading country to adopt Blockchain technology and cryptocurrency. Samsung launches a new blockchain-based cloud computing platform called Nexledger.

South Korea is showing a very good positive trend in terms of the development of bitcoin. South Korea has the world’s fastest internet connectivity, which is a very powerful incentive for the development of the use of bitcoin in the country.