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Bitcoin Price Dives After Regulators Raise Red Flags

Bitcoin's price peaked near $20,000 last month — now, it's hovering near $10,000.

By: Matt Picht

Posted at 6:40 PM, Jan 17, 2018

and last updated 2018-01-17 18:40:11-05

Around this time last month, one Bitcoin was worth close to $20,000. On Wednesday, that price plunged below $10,000.

The volatile cryptocurrency soared in value near the end of 2017, prompting companies like Kodak and even the country of Venezuela to try minting their own virtual currencies.

But all that hype has attracted scrutiny from regulators. Bitcoin's price tumbled after reports that officials in both China and South Korea are planning to crack down on cryptocurrency trading.

And as goes Bitcoin, so go other cryptocurrencies like Ethereum and Ripple, which have also seen recent price drops.