Bitcoin Drops Amidst Regulatory Concerns

Written by :

C Costigan

Published on :

28 December, 2017

The "Squawk on the Street" crew talks about the drop in bitcoin and the good year for U.S. stocks.

Bookmaker accepts most crypto-currencies

More specifically, South Korea has moved to regulate cryptocurrency trading.

Bitcoin fell on Thursday by as much as 11% in a week that has seen the cryptocurrency seesaw following a major sell-off at the end of last week.

The cryptocurrency fell as low as $13,672.16 on Thursday though it remained above the low of $10,400 it hit last Friday. There had been no immediately apparent explanation behind last Friday’s drop.

Cedric Jeanson, CEO of trader BitSpread, told CNBC's "Squawk Box" on Thursday that he believed the move was "quite positive" and "normal" for regulators.

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