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Why the Cryptocurrency Price Dip May Be a Good Thing

20 January 2018

The Ripple price (XRP/USD) has hit a three-day high after gaining almost 70% in the past 24 hours.

There have been reports that an increasing number of people were taking out mortgages to invest in bitcoin when it peaked at $20,000. The rebound back to the previous peak concluded in mid-February of 2017.

South Korean officials' remarks have swayed the global markets for bitcoin and other cryptocurrencies in the last few weeks. And unfortunately, crypto's woes are unlikely to lead to more graphics card stock right away. While there's no immediate reason for today's dip, bitcoin has been falling over the past week. This lesser known cryptocurrency jumped in value by 475% in just one month alone. The government has made it clear that it has not given license to any agency for working as exchange, and has already set up a committee to formally suggest ways to regulate trade of Bitcoin and other cryptocurrencies.

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The United States has labeled JuD as the "terrorist front" for the Lashkar-e-Taiba, a group Hafiz Saeed founded in 1987. The former Afghan president said this while attending the 2018 Raisina Dialogue in the national capital.

Answering MP questions from the country's National Assembly in a national policy committee meeting, Choi Jong-ku, head of the Financial Services Commission (FSC), said the government was considering "both options" of either shutting down all virtual currency exchanges or the ones that are breaking the law.

"My conjecture is that cryptocurrency holders are trying to decide whether to abandon bitcoin because its limitations mean it will be superseded by better products or bet that it can thrive despite them".

Over 218,000 South Koreans have signed a petition on President Moon Jae-in's offical website against the regulation of virtual currencies.

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The 48-year-old Locksley also had an opportunity to join the staff under Willie Taggart but elected to stay at Alabama. It appears Nick Saban has found his replacement for former offensive coordinator Brian Daboll.

Elsewhere, Ethereum, another popular cryptocurrency, witnessed its value plunge below $1,000 per coin. According to Coinhills, South Korea is the third-biggest market in the world for Bitcoin trades after Japan and the US.

"Market jitters over South Korea potentially banning cryptocurrency trading has effectively eroded investor appetite for bitcoin", said Lukman Otunuga, research analyst at FXTM. The local news outlet, Yonhap reported this dramatic rise in light of Bitcoins initial rise.

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Why the Cryptocurrency Price Dip May Be a Good Thing