Bitcoin slumped deeper on Tuesday amid an escalating regulatory worries, and South Korea issued a crypto ban.
Bitcoin traded at $ 10,927, tumbling 5.13% at 19:59 pm on Bitfinex after hitting today's highs at $ 11,642. Bitcoin has struggled to hold above $ 11,000 after hitting a two-month low of $ 6,000 in early February.
South Korean officials have banned government officials from detaining and trading crypto, and offending officials may be subject to disciplinary action even if their work has nothing to do with digital currencies.
As the popularity of the virtual currency increases, regulators around the world have been debating how best to manage this crypto money. South Korea has been considering setting up its currency, while Bank of England governor Mark Carney said last week that digital coins should be set up like a financial system.
Meanwhile Ripple fell back after rumors that a popular Coinbase exchange that would add this cryptocurrency to its platform proved wrong. Ripple, the crypto currency with the third largest market cap, tumbled 11.53% to trade at $ 0.93000, after Coinbase said it "made no decision to add additional assets to the GDAX or Coinbase" and that "statements contrary to things it is not true and not valid other than the company. "
Elsewhere, the US Marshall Service said that about 2,170 Bitcoins, valued at nearly $ 25 million, seized during a federal, civil and administrative criminal case, will be auctioned on March 19.
Other virtual currencies are down. Ethereum's rival, Crypto with the second largest capitalization in the world, slumped 4.14 percent to $ 830.55 on the Bitfinex exchange. Last litecoin was at $ 201.86, down 5.43%.