[Digital Today Reporter Hyunwoo Choo] The virtual asset (cryptocurrency) market is shaking. Despite high volatility, the overall upward trend remains steady. Bitcoin once soared to $49,500 on the 14th.
Based on Coin360 at 9:30 am on the 15th, Bitcoin (BTC) recorded $48,721, up 2.54% from the day before. Upbit, a domestic virtual asset exchange, is trading at 52.76 million won, up 0.1% from the previous day.
On the other hand, altcoins are weak. Ethereum (ETH) fell 1.11% from the previous day to $1807, while Cardano (ADA) fell 4.25% to 86 cents. Ripple (XRP) also fell 4.26% to 60 cents, and Polka Dot (DOT) fell 6.95% to $27.47. Bitcoin Cash (BCH) and Binance Coin (BNB) rose by 4% to $729 and $138 respectively.
Foreign media such as Reuters analyzed that the movement of investment in virtual assets by major companies and the financial world is driving the market.
In particular, Bitcoin, a leading virtual asset, has soared more than 70%, starting at the $29,000 range this year and reaching the $49,000 range in two and a half months.
However, warnings about a short-term adjustment tax are also issued ahead of the $50,000 resistance level. Scott Melker, a famous virtual asset trader, analyzed that “Bitcoin has been showing a steadily rising trend recently, but it has failed to break through the $50,000 resistance line. Considering the past trend, there is a good chance that it will receive a short-term correction.”
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.