[Digital Today Reporter Choo Hyun-woo] On the 25th, virtual assets (cryptocurrency) continued to decline. Bitcoin sank to 52,000 dollars again.
Based on Coin360 at 9:30 pm on the 25th, Bitcoin (BTC) was traded at $52792, down 2.21% from the day before. The market capitalization fell below $1 trillion to the level of $982.6 billion.
On the domestic virtual asset exchange Upbit, it recorded 64.94 million won, down 0.26% from the previous day.
Ethereum (ETH) also fell 3.92% from the previous day to $1592, Binance Coin (BNB) fell 1.04% to $249, and Cardano (ADA) fell 2.86% to $1.07. Polkadot (DOT) fell 0.21% to 30.66 dollars, and Ripple (XRP) also fell 9.2% to 49 cents.
All of the top 10 virtual assets market capitalization assets are on the decline.
The decline in virtual assets is in line with the decline in the New York Stock Market and NASDAQ technology stocks. Although Tesla’s bitcoin payment support was rumored, it temporarily rose, but it did not provide steady momentum. On the contrary, there is a forecast that the side effects such as tax problems and strengthening of regulations will be greater.
Press interviews also acted as bad news for the market, according to Augustine Karstens, governor of the Bank for International Settlements (BIS). “Virtual asset is a speculative tool and has a negative effect that promotes illegalization,” he said. “A stronger regulation is needed.”
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.