Bitcoin running in the new year… 800% surge in 10 months

Input 2021.01.04 14:46

Concerns about weakening the dollar are reflected in the US large-scale stimulus plan

Bitcoin, which showed a sharp rise in price throughout the year, is running without losing momentum in the new year. Bitcoin, which recorded a record high of $34,800 (37.69 million won) on the 2nd (local time), is showing a crushing trend, reflecting concerns about the weakening of the dollar.

According to Reuters on the 3rd (local time), Bitcoin is trading at $33,365 in the Asian market as of the day. Reuters analyzed that although it fell slightly from the 2nd, which recorded the highest price, it is still strong.

Bitcoin’s value also peaked in 2017, exceeding $20,000 at the time. However, as China cracked down on the cryptocurrency business, it fell to $3,000 (about 3.26 million won) in March 2019, and then rebounded to $8,000 (about 8.7 million won) in May of the same year. In December 2020, it surpassed $20,000 again, and recently reached the $30,000 mark.

Reuters reported, “The world’s most popular cryptocurrency Bitcoin surpassed $30,000 in less than three weeks after its first breakthrough of $20,000 in December last year,” said Reuters. “Since mid-March to the present, a phenomenal price increase of 800% Is shown.”

As the U.S. government launched a large-scale economic stimulus package to overcome the economic recession caused by the corona19 epidemic, such a surge in bitcoin prices raised concerns about the risk of inflation and the weak dollar, and Bitcoin is considered an alternative. Analyzed.

In addition, several millionaires recently participated in the purchase of bitcoin, including the purchase of $100 million worth of bitcoin by Massmutual, a large insurance company, and the bitcoin ETF and S&P cryptocurrency index are also expected to debut soon.

CNN said, “Bitcoin may continue to gain new fans as the Federal Reserve is expected to keep interest rates near zero for several more years.” Citibank predicted that this year Bitcoin could go up to $318,000.

However, some people still have pessimism about Bitcoin. “Dr. Doom” Professor Nouriel Rubini of New York University warned that “Bitcoin is not a currency, nor is it a reliable means of storing value, so the bubble will eventually die out.” In fact, Bitcoin has surpassed 20,000 dollars in an explosive rise in 2017 and then plunged to the level of 3,000 dollars in early 2019.