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01-16-2018, 09:29 PM
Here's why cryptocurrency prices are tanking right now
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Every product here is independently selected by Mashable journalists. If you buy something featured, we may earn an affiliate commission which helps support our work.
All major cryptocurrencies are experiencing a severe price correction, with the size of the market shrinking from about $830 billion a week ago to $570 billion, according to CoinMarketCap (https://coinmarketcap.com/charts/).*
Bitcoin is currently at $12,062, down 12.7% in the last 24 hours. Ethereum has fallen 18.8% to $1,082, and Ripple is down to $1.35 per coin, a 26.8% decline.*
SEE ALSO: Here's what you need to know before you buy bitcoin (http://mashable.com/2017/12/20/things-to-know-if-you-want-to-buy-bitcoin/)
The correction is likely a result of several factors. Last week, South Korea's Justice Minister Park Sang-ki said (http://money.cnn.com/2018/01/11/technology/south-korea-bitcoin-ban-bill-minister/index.html) the country is preparing a ban on cryptocurrency trading. Even though other branches of government later said the ban is not finalized, the country's stance towards the cryptocurrency market does seem to be getting tougher.* Read more... (http://mashable.com/2018/01/16/cryptocurrency-correction-january-2018/)
More about Bitcoin (http://mashable.com/category/bitcoin/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Ethereum (http://mashable.com/category/ethereum/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Cryptocurrency (http://mashable.com/category/cryptocurrency/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Tech (http://mashable.com/tech/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Sharing Economy (http://mashable.com/category/sharing-economy/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/yjwhtZoFS58
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Every product here is independently selected by Mashable journalists. If you buy something featured, we may earn an affiliate commission which helps support our work.
All major cryptocurrencies are experiencing a severe price correction, with the size of the market shrinking from about $830 billion a week ago to $570 billion, according to CoinMarketCap (https://coinmarketcap.com/charts/).*
Bitcoin is currently at $12,062, down 12.7% in the last 24 hours. Ethereum has fallen 18.8% to $1,082, and Ripple is down to $1.35 per coin, a 26.8% decline.*
SEE ALSO: Here's what you need to know before you buy bitcoin (http://mashable.com/2017/12/20/things-to-know-if-you-want-to-buy-bitcoin/)
The correction is likely a result of several factors. Last week, South Korea's Justice Minister Park Sang-ki said (http://money.cnn.com/2018/01/11/technology/south-korea-bitcoin-ban-bill-minister/index.html) the country is preparing a ban on cryptocurrency trading. Even though other branches of government later said the ban is not finalized, the country's stance towards the cryptocurrency market does seem to be getting tougher.* Read more... (http://mashable.com/2018/01/16/cryptocurrency-correction-january-2018/)
More about Bitcoin (http://mashable.com/category/bitcoin/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Ethereum (http://mashable.com/category/ethereum/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Cryptocurrency (http://mashable.com/category/cryptocurrency/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Tech (http://mashable.com/tech/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Sharing Economy (http://mashable.com/category/sharing-economy/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/yjwhtZoFS58