It broke through 58,000 dollars, in the 53,000 dollars range
Previous-class roller coaster…”Margin Realization Sale”
Bitcoin price plummeted in the US market on the 22nd (local time). EPA Yonhap News
The price of bitcoin, the leader of cryptocurrency (virtual currency), plunged on the US exchange on the 22nd (local time). Bitcoin, which broke the $58,000 wall for the first time in history the day before, was pushed to the $53,000 level as profit-taking sales poured out.
On that day, at 5:10 am (7:10 pm Korean time), Bitcoin recorded $53,525 per piece on Coinbase, the largest cryptocurrency exchange in the United States. Considering that Bitcoin reached an all-time high of $58,367 at 2 p.m. the day before, the price fell 8.3% in less than a day.
The price of Ethereum, which exceeded $2,000 each, also fell to the $1700 level. It is analyzed that this is due to the emergence of profit-taking sales due to the soaring without any other adjustment process, and the increased regulatory concerns of financial authorities.
Earlier, US Treasury Secretary Janet Yellen warned that cryptocurrencies could be used for illegal financial transactions, and European Central Bank governor Christine Lagarde urged more restrictions on cryptocurrencies.
Bitcoin prices fell sharply on the US exchange on the morning of the 22nd (local time). Coindesk capture.
It is pointed out that the Bitcoin movement on this day is an example of how large the price volatility of cryptocurrencies is. Cryptocurrency prices vary slightly from exchange to exchange, and because there is no deadline, it is traded 24 hours a day.
Bitcoin surpassed $20,000 for the first time in December last year, and surpassed $30,000 in January this year and $40,000 and $50,000 in February.
It is a diagnosis that the inflation prospects following the massive stimulus plan and the successive market participation of institutional investors and companies ignited cryptocurrency prices. In Canada, North America’s first Bitcoin Listed Index Fund (ETF) was launched last week.
Although the price of bitcoin has dropped significantly on this day, each expert has mixed prospects.
“The best time to invest in Bitcoin was yesterday, but today is the second best day,” said Meltom Demirus’ chief strategist at CoinShares, a digital currency investment company, in an interview with CNBC. “The regulatory issue is not new.” He affirmed.
“If bitcoin is a real currency, it’s a terrible bad currency,” said Asworth Damodaran, a professor at New York University. “It’s not an asset, but a very speculative game tool.”
New York = Correspondent Cho Jae-gil [email protected]
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