Investing.com - Major cryptocurrencies including Bitcoin, Ethereum and Ripple came under intense selling pressure Thursday, following reports that South Korea could be preparing to ban all cryptocurrency trading.
The crypto market was rattled by reports saying that South Korea’s Justice Ministry is "basically preparing a bill to ban cryptocurrency trading through exchanges" and that the country's largest cryptocurrency exchanges were raided by police and tax agencies this week for alleged tax evasion.
That followed comments made by billionaire investor Warren Buffett who said Wednesday that the recent craze over Bitcoin and other cryptocurrencies won't end well.
"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," the chairman and CEO of Berkshire Hathaway (NYSE:BRKa) said.
Buffett's right-hand man, Charlie Munger, also blasted frothiness in bitcoin, calling it a bubble.
The question on everybody's mind is if and when the bubble will finally pop.
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