TOKYO -- Bitcoin is continuing its wild ride. After nearing $20,000 for the first time last week, the cryptocurrency fell by some $2,000 within an hour on Wednesday morning. Analysts attributed the plunge to an influx of funds to Bitcoin Cash.
The cryptocurrency was also affected by South Korean coin exchange Youbit, which plans to declare bankruptcy after a hack resulted in about a 17% decline in assets. The county has flocked to cryptocurrency perhaps more than any other -- so much so that Prime Minister Lee Nak-yon recently warned that the trend may be corrupting the nation's youth.
