Bitcoin Drops 10%

ArticleChange of moneyJune 11, 2018 - 3:15:03 AM

The South Korean stock exchange has been hacked which has led to a loss in value of the crypto currency which is now trading around $6647.

The South Korean stock exchange recently declared to have been victim of a hacking of its system which did not reassure the investors who did not hesitate to resell their crypto-currencies. This large-scale sale of the virtual currency caused the Bitcoin to drop to $6647.33 or a loss of about 10% of its value.

Other major crypto currencies have also fallen. According to CoinDesk, the etherium dropped 14% to $514. Litecoin fell by more than 11% to $104.

These declines followed a report published by the Wall Street Journal explaining that US regulators are seriously investigating price manipulation in four major cryptocurrency markets: Bitstamp, Coinbase, itBit and Kraken.

If certain anomalies or manipulations are detected by the American regulators, this will lead to sanctions that will affect and disrupt the cryptomomy market.

Investors are looking for the most reliable way to preserve their capitals because of the failure of cryptocurrency but also taking into account international trade relations and the geopolitical context under pressure. For many of them, the safest haven for their capital remains physical investment in precious metals, such as gold, silver or platinum, a true store of values...

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