Bitcoin bounces on easing S. Korean regulatory stance, Ripple rockets +19%

Bitcoin, the most dominantly traded digital currency, stalled this week’s sell-off and staged a minor comeback, as concerns eased over the South Korean regulatory clampdown after the country’s Finance Minister softened its government’s stance on shutting down the crypto exchanges.

On Thursday, the spot fell sharply to test the key support of $ 12500 after South Korea’s Justice Minister said a bill to ban cryptocurrency trade was being prepared.

Meanwhile, most of its widely traded rivals are also seen on a solid recovery mode, with Ethereum surging +1.30% to $ 1235 and Bitcoin cash 3.80% higher near $ 2600 levels. Ripple is seen on an impeccable recovery, up almost 19% to trade above the key $ 2.0 levels.

According to Coinmarketcap, the cryptocurrency market cap reached $709.90 billion, with Bitcoin accounting for nearly 34% of global cryptocurrency trading.