The announcement of a new computer attack that allowed the theft of Bitcoin coins kept by BlackWallet users and the rumors in the meantime confirmed by the South Korean authorities that they were preparing the partial ban on virtual transactions caused the collapse of the major currencies.
After losing more than 10% in value in just one hour, the Bitcoin continued its decline throughout the day, with the price dropping temporarily below the $ 10500 / BTC threshold. Similarly, the Ethereum currency, whose price fell from more than $ 1350 a day ago, to a minimum of only $ 860. As is often the case in the virtual currency markets, after about 3 hours the Ethereum quote again reached the $ 1,100 mark, but than moved again under the $ 1,000 threshold.
Justified by the South Korean authorities' concern that virtual currency transactions could be used to fund illegal activities, the measure of imposing stricter control on one of the most active trading markets in the world may not have long-term effects, the losses suffered are to be recovered by buyers attracted by the prospects of future growth and the possibility of speculating on the course of course fluctuations. I believe that this is a greater correction that we all were expected, but maybe we wouldn't want to recognize it. The things will clarify in the incoming days and I believe that the market will become more positive and the cryptos will gain momentum again and move up to previous values.