The price of bitcoin, which increased rapidly, has been plummeting due to concerns surrounding futures trading and the implementation of regulations from authorities.
According to Bithumb, a virtual currency exchange market, bitcoin that was priced at 24.8 million won per BTC fell by about 40% in two days and was trading at around 15 million won per BTC, which decreased by twice as much as compared to the price in the US market.
Bitcoin surpassed the price of 10 million won per BTC on the 26th of last month in Korea and passed the 20 million won mark only 11 days later.
This rapid decline seems to be due to concerns surrounding the negativity from futures trading of bitcoin due to its debut in the futures market and the news of implementation of Korea's government regulations.
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