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-[한국금융신문 홍승빈 기자] On the afternoon of the 13th, the domestic bitcoin market price is around 37 million won. Overseas, it fell below 33,000 dollars.
As of 3:43 p.m. on the same day, bitcoin at Upbit, a virtual currency exchange, is recording 37888,000 won, down 1.75% (676,000 won) from the previous day. The transaction value is 7129 billion won.
At the same time, Ethereum (-1.43%), Ripple (-0.31%), Ada (-2.14%), Litecoin (-0.66%) declined at the same time. On the other hand, Bitcoin Cash (2.62%) and Stellar Lumen (0.95%) rose.
Recently, the price of bitcoin, a leader in the cryptocurrency market, is getting worse.
On the 12th, it went up and down 10,000 dollars a day (about 11 million won). It can be interpreted that as the price of bitcoin has recently skyrocketed, a large number of products that want to realize profits have been poured out, leading to a rapid price change.
As the bitcoin price continued to plummet every day, experts warned one after another.
In particular, it is pointed out that Bitcoin has a relatively high investment risk compared to other risky assets in that most of the funds invested came from individuals rather than institutions.
In an interview with CNBC, Jeff Curry, head of research in the raw materials sector of Goldman Sachs, a world-class investment bank (IB), said in an interview with CNBC, regarding the sharp volatility of the bitcoin price, “Institutional investors currently account for only 1% of the more than $600 billion invested in Bitcoin. He said, “In order to stabilize the market, more institutional investors will have to enter Bitcoin than now.”
“In the long run, Bitcoin will be able to find an equilibrium,” he added. “The current levels of volatility and uncertainty make predictions very difficult.”
Reporter Seungbin Hong [email protected]
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