Bitcoin and altcoins lost up to 40% of their value the morning of Tuesday, Jan. 16

Bitcoin and altcoins lost up to 40% of their value the morning of Tuesday, Jan. 16, as regulatory pressure from China and South Korea appears to upset optimism.

Cross-exchange data from CoinMarketCap reveals the extent of bear sentiment arising from the confused situation in Seoul and the news of additional trading sanctions from Beijing.

On Monday, Cointelegraph reported on how Korean authorities would likely stop short of an outright cryptocurrency exchange “shutdown,” but had introduced fines for users unwilling to use personal identification data on crypto exchanges in the country.