Bitcoin price: Why is the value of Bitcoin and Ripple falling?

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Bitcoin and Ripple prices took a dip on Thursday morning, spiralling down as much as 13 percent on some exchanges.

The hit came after South Korean regulators threatened to curb the trade of cryptocurrencies in Korea.

Minister of Justice Park Sang-ki pledged to investigate some of South Korea’s top financial institutions to seek out those who facilitate the speculative growth of bitcoin.

Bitcoin prices responded to the news by plunging across the markets with Korean exchanges facing the heaviest losses.

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