On Wednesday, bitcoin quotes dropped almost to 10 000USD, having lost more than 25% in a day, according to coinmarketcap.com.
The lowest level, recorded, was 10 149 USD on Wednesday night. After that, the price started being corrected slightly and went up to $11 383. As early as on Tuesday, bitcoin cost more than 14 00 USD.
Rival cryptocurrencies are also falling in price. Ethereum was 26% down in just a day, and Ripple dropped by 40%, according to Bloomberg.
Analysts explain such a dramatic crash of cryptocurrencies by South Korea’s Finance Minister Kim Dong-yeon’s announcements, that the government is considering banning crypto trading.