Mubasher: Digital currencies on Thursday lost more than $100 billion of their market value in four hours, reaching $628 billion from $739 billion, after South Korea said it would ban cryptocurrency trading.

 By 08:37 am GMT, some of digital currencies retraced their losses, and their market value amounted to $666.5 billion.

 On Thursday, South Korea’s justice minister revealed that he submitted a bill to ban trading of the virtual currency on domestic exchanges.

 By 8:50 am GMT, bitcoin retreated 1.03% to $13,939 with a market value of $234 billion, while bitcoin cash rose 5.81% to $2.547 with a market value of $43 billion.

 Similarly, by 8:50 am GMT the ethereum declined 5.90%5 to $1,246 with a market value of $120 billion.