Bitcoin tumbles after its cryptocurrency mania. It was trading at $16,626.42 at 10:25 a.m. in Hong Kong.
However, investors still see its long term benefits.
Digital Currency Society
Across Asia, digital currencies are popular. South Korea is a main proponent of cryptocurrency and one of the world’s most wired societies.
Just days after South Korean exchange association announced a more transparent process, Youbit suffered its final blow. Nonetheless, the world moves towards a decentralized money exchange. The Guardian announced a survey of European economists who say that the digital currency will not intrude on the financial stability of the region.