Bitcoin, Cryptocurrencies Bounce Back but Hold in Familiar Range

Investing.com – The prices of major cryptocurrencies edged higher on Wednesday but held in a familiar trading range, with Bitcoin, Ethereum and Ripple all bouncing back after suffering double-digit percentage losses.

was trading at $10,872 by 4:45AM ET (0945GMT) on the Bitfinex exchange, up 2.8%. It fell to as low as $9,901 on Tuesday. Prices are from their record high of around $20,000 reached in mid-December.

, the world’s second largest cryptocurrency by market cap, gained 3.3% to $993.08 on the Bitfinex exchange, after sliding to a low of $905.38 a day earlier.

Meanwhile, Ripple’s token was trading at $1.3593, up around 5% for the day.

2018 has not started well for cryptocurrencies, with most of the blame falling on worries about increased regulatory scrutiny in South Korea and other countries.

South Korea’s government is examining multiple options for cracking down on cryptocurrency trading, including a blanket shutdown of cryptocurrency exchanges and a closure of only the ones acting illegally…

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