However, the industry advises that a careful investment should be made as the market price may fluctuate in the event of a short-term surge.
According to Upbit, a virtual asset exchange on the 19th, as of 5 p.m. the previous day, Bitcoin rose 12.5% for the last week.
Bitcoin has been steadily rising since Tesla’s news of investment.
After surpassing 50 million won on the 9th, it also surpassed 57 million won the day before. Bitcoin surpassed 64 million won as of 11 o’clock on the 20th.
Altcoins are also showing an upward trend amid the strong market cap of Bitcoin.
Excluding Bitcoin, the rest of the coins are called altcoins (alternative coins).
In the case of altcoins with the highest market cap, Ethereum, the second largest market cap, rose 10% for a week.
During the same period, Ada, ranked 3rd in the market cap, rose 5%, and Polkadot, ranked 4th, rose 29%.
The altcoin, which had the highest rate of increase in the last week, was counted as Paycoin.
Paycoin rose a whopping 1525%.
Paycoin, a domestic altcoin issued by Danal Fintech, has a daily increase of more than 2000% on the 17th on the news of Danal Fintech’s support for bitcoin payments.
It was followed by Polymath (320.9%), Playdapp (255.29%), and MediBloc (248.21%).
In addition, quiz talk (150%) and milk (70%) also increased significantly.
In general, the industry analyzed that when the price of bitcoin rises, altcoins also showed a “circular sale” phenomenon that followed, showing a similar trend this time.
However, altcoins, which have a low trading volume and market capitalization, may soar in a short period of time and aim for a market price margin, but they advise that you should be wary of’don’t ask investment’ because of the large fluctuations.
According to Upbit, the market capitalization of Bitcoin is 1071 trillion won, and Ethereum is about 241 trillion won.
There is also a wide gap between the 3rd and 4th place Ada (33 trillion won) and Polkadot (32 trillion won), and Bitcoin and Ethereum occupy the dominant weight of the market.
An official in the virtual asset industry said, “Unlike the stock market, virtual assets are traded by exchange and there is no upper or lower price limit, so the possibility of loss is very high. If you invest without studying coins, there is a high possibility that you will lose money.” You need to watch carefully,” he advised.