Recently bitcoins plunged even lower than what it was before because of the statement made by south Korean prime minister about banning trading of virtual cryptocurrencies through exchanges
Etherum and Bitcoins are majorly controlled by countries like south Korea and now since they are gonna ban it the effects it would have on currencies would be detrimental
Would it recover ? Because it's simply bigger than China also countries like India are also thinking of putting a ban!
Korean is a big market for crypto currency and an indication from their government official about banning of trading affected the price very much,earlier we used to see these sort of news from the Chinese market and the market would react according to those news and it took over an year to actually ban their exchanges and this is the case i expect from Korea too,hopefully the market might recover even after the Korean's ban trading,only time will tell.