Investors have rushed to sell off their Cryptocurrencies amid fears of a major regulatory crackdown in South Korea.
The price of Bitcoin fell by more than 20 percent to $US11000 after the South Korean Finance Minister announced that a ban on trading Cryptocurrencies such as Bitcoin, Ethereum, and Ripple was a definite possibility.
The price of Bitcoin peaked in December at $US20000 and has suffered a series of sell-offs and losses since.