Investors predict crypto currencies to gain further in Korea

Business | 23 Jan 2018 3:09 pm

A 44-year-old office worker in South Korea, who gave only a surname Moon, said prices of crypto currencies are likely to rise with new money expected to kick in after the government allows banks to open new accounts next week.

The local price of bitcoin fell by 4.4 percent to 13.3 million won (US$12,413) at one point in the afternoon, according to a crypto currency exchange Upbit.

Crypto currencies, such as bitcoin and ethereum, have rapidly gained popularity in recent years among South Korean investors hoping to make quick money, the state news agency Yonhap reported.

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