The rise of Bitcoin over $100,000?
While the biggest coins continue to lose value, due to the China and South Korea’s crackdown on cryptocurrencies. South Korea’s justice ministry is proposing a ban on cryptocurrency trading. The Chinese government is targeting to censor and shut down all online platforms that facilitate trading. This is bad for the cryptocurrency industry because South Korea is the largest cryptocurrency trading market barring the U.S. and Japan. On its own, this is a sign that Bitcoin always finds a way to survive events that result in major price drops. The cryptocurrency market is a very young market with a with an upward trend. Bitcoin is not going to crash but will stabilize and gain momentum when the crackdown stops. The crackdown to governments trying to mitigate the ramifications of cryptocurrency trading. Bitcoin “a store of value,” just like gold is. Ethereum is a platform used to build apps and other cryptocurrencies. Ethereum’s value is dependant on the use of the cryptocurrencies
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