Bitcoin Recovers From Previous Losses

The leading cryptocurrency recovers again, turning back to $10,000 mark traded on Tuesday. Other major cryptocurrencies also were in the positive territory early on Wednesday.

Early on Tuesday morning bitcoin had touched $9,972, but late in the day it jumped across $11,000. According to CoinMarketCap, the major digital currency is trading near $11,000 with a market value of $186.72 billion.

The second biggest cryptocurrency Ethereum also gained 4,26 % trading at $1,000 with a market cap of $97,3 billion. Ripple, the third cryptocurrency was trading at $1,37 with a market cap of $53 billion.

The latest development in the cryptomarket is that South Korean Government announced about banning anonymous cryptocurrency trading started from January 30. A report says:

“Those who do not have their real-name accounts at the same bank with the exchanges will not be allowed to make new deposits into the exchanges’ accounts. They will be only allowed to make withdrawals”.

There was also a guideline announcement from agency for financial institutions to prevent money laundering in cryptocurrency trading.

Bitcoin has surged more than 30 % last week, dropping below $10,000 after concerns about increased regulation in South Korea and China, also some prominent banks in India suspended accounts of certain Bitcoin exchanges.