While the situation on the foreign exchange market is quite calm, the cryptocurrency market shows high volatility. On Saturday, bitcoin touched a month high of $13,000, however, today the virtual currency is trading near $10,400. Bitcoin is trading under pressure amid the decision of the South Korean government to publish personal data of traders to monitor transactions. That way the country plans to fight against financing criminal and fraud schemes. Moreover, foreigners who do not have accounts in South Korean banks will not be able to assess the Korean crypto exchange. This will become a serious obstacle for many cryptocurrency traders and lead to a gradual weakening of virtual money.
Apparently, traders will turn to traditional trading instruments again in the near future. Analysts expect growth of demand for gold. Today, it is gradually rising, trading around $1,336 a troy ounce. Experts predict that the US dollar will continue to trade flat during this trading week, allowing gold to stay at highs. As for bitcoin, some experts suggest that its rate will no longer be able to soar to the highs that were reached in the end of 2017.
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