This decline was caused by investors who monitored warnings from a number of regulators and increased crackdown on virtual currency markets in China.

a sharp decline occurred in the price of bitcoin, reaching its lowest point in 1.5 months. In addition, ethereum and ripple prices also decreased significantly. authorities in China are reportedly planning to block domestic access to Chinese and foreign virtual currency platforms that allow centralized trading.

Japan and South Korea usually dominate trading on the virtual currency market. However, in the past few days, the volume has decreased, where today the volume decline of the two countries fell 30 percent.

South Korea was also reported to be drafting rules to ban trading of virtual currencies last week. This makes bitcoin prices and a number of other virtual currencies drop dramatically.