Bitcoin Moved Little Despite South Korea's Potential Trading Ban

Bitcoin continued to trade below $14,000 amid the negative news about the cryptocurrency from South Korea and Warren Buffett.

Buffett said the cryptocurrencies would somehow end badly in the end.  Apparently, the investment guru does not believe in the virtual currencies.  South Korea continued its investigation on the Bitcoin trading activities, and the trading exchanges.  South Korean Justice Department is planning the legislation that would shut down the exchanges in the country completely.

The near term low of Bitcoin is at around $12,600.  We shall see if that level can hold.

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