![[분석] Bitcoin, roller coaster… Powell’s mouth fell sharply](http://img.lb.inews24.com/facebookexternalhit/face/626x352/image_gisa/202103/1519200663864_1_174707.jpg "[분석] Bitcoin, roller coaster… Powell’s mouth fell sharply")
[아이뉴스24 허재영 기자] The bitcoin price has been hesitant about 7% in one day, continuing its downtrend for two consecutive days. As Jerome Powell, chairman of the Federal Reserve System of the United States, was unable to subdue concerns about inflation in the market, Bitcoin, one of the risky assets, was also hit directly. Accordingly, some are raising concerns, saying that volatility should be considered when investing.
Based on the coin market cap, which averaged the market prices of major exchanges around the world on the 5th, as of 5 p.m. on the day, the bitcoin price is down about 6.94% from 24 hours ago and is trading at around $46,000. During the intraday it dropped to $46,294.
◆ US Fed Chairman Powell’s remarks, sovereign bond yields rise and bitcoin prices plunge
At the same time, Bithumb, one of Korea’s leading exchanges, is trading at around 55 million won, down 4.85% from the previous 24 hours.
An interview with Federal Reserve Chairman Jerome Powell triggered a plunge in bitcoin.
At an online event hosted by the Wall Street Journal on the 4th (local time), Chairman Powell only expressed his view that the monetary policy would remain relaxed for a considerable period of time, but did not express his willingness to curb the rise in market interest rates.
After Chairman Powell’s remarks, the yield on U.S. Treasury bonds again surpassed 1.5%. As the yield of treasury bonds rises, the price of bitcoin is falling sharply in one week due to the phenomenon of avoiding risky assets.
◆’Roller Coaster’ in a word from a celebrity… “Be aware of the peculiar volatility”
Bitcoin, which was only $10,000 in October of last year, has since soared terribly. In the middle of last month, it exceeded 50,000 dollars, and the market capitalization exceeded 1 trillion dollars. On the 21st of last month, he put 60,000 dollars in front of his eyes, rising to 58,354 dollars.
Tesla Chief Executive Officer Elon Musk announced that it will be using bitcoin as a payment method, and the price of bitcoin soared in the short term as major investors and companies, including Bank of New York Melon, the oldest bank in the United States, considered entering the bitcoin market.
However, with voices of concern around the world, Bitcoin plummeted. On the 22nd of last month, it started down 5.37% compared to the day before, and on the 28th, it fell to $43,21 during the intraday.
On the 20th (local time), Musk, the creator of the surge in bitcoin, left a post on his Twitter saying, “The price of bitcoin is expensive.” On the 22nd of last month (local time), US Treasury Secretary Janet Yellen also pointed out at a’Dealbook Conference’ hosted by The New York Times, “People should know that Bitcoin is a very speculative asset and extremely volatile.”
In Korea, Lee Joo-yeol, governor of the Bank of Korea, pinpointed the risk of Bitcoin. Governor Lee Joo-yeol said in the National Assembly’s business report on the 23rd, “I think the price is soaring more than ever in terms of various standards and judgments,” and said, “It is difficult to understand why the price of bitcoin is so high.”
The industry is asking attention when investing, saying that the volatility peculiar to bitcoin has not yet been resolved.
An official in the blockchain industry said, “At the word of celebrities, Bitcoin is repeating a sharp rise and fall,” he said. “In consideration of this, it is necessary to invest carefully.”
/ Reporter Heo Jae-young ([email protected])