Bitcoin’s first breakthrough of $30,000… Will the uptrend continue?
[앵커]
Cryptocurrency Bitcoin’s rise is scary.
Bitcoin, which surged to over 20 million won in 2017 and then plunged to 4 million won the following year, is recording a surge again.
Reporter Park Jin-hyung’s report.
[기자]
Bitcoin price exceeded $30,000 for the first time ever.
The domestic trading site also surpassed 37 million won as of 2 pm on the 3rd.
Bitcoin, which was traded for 12 to 14 million won in Korea in October last year, surpassed 26 million won on December 20 last year, and surpassed 32 million won on the last day of 2020, and showed a steep rise in the new year.
It is analyzed that the atmosphere is similar to the bitcoin investment frenzy in 2017, but the background of the rise is different.
If individual investors led the uptrend three years ago, this time the impact of global institutional investment was added.
PayPal, the world’s largest electronic payment company, launched a service that buys, sells, and stores bitcoin directly from the app two months ago, and the news of the New York asset management company BanAc Associates’ approval of bitcoin price-linked ETF products, etc.
It is also the background of this rise that central banks around the world, including the US Federal Reserve System, have emerged as a hedging tool to prepare for the decline in the value of money such as the dollar as they increased their money supply to support the economy contracted by Corona.
However, the biggest concern is the possibility of a sharp rise.
This is because there is an experience that the price of bitcoin, which was over 20 million won in the past, has fallen to 8 million won in one month.
Some analysts say that the bitcoin craze, which has rekindled after three years, is the beginning of a battle over whether it is a safe asset to replace gold or a speculation target.
“A strong battle between commercial banks and financial authorities, there will be forces on one side to further revitalize financial products, and at that time, bitcoin will rise, and if there is a check from the financial authorities to suppress it, the price of bitcoin (may be…) “
It’s okay for individual investors to invest in small amounts at the asset portfolio level at a scale they can afford, but experts warn that if you overreact with rosy anticipation, you can lose as much as before.
This is Jinhyung Park on Yonhap News TV.
Yonhap News TV article inquiries and reports: katok/line jebo23
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