Bitcoin’s market price rose n7620 dollars in 5 trading days to $45720 and continues its rally. It is the first time since 2021, when the price of Bitcoin has exceeded 45720 dollars . On the 6th, the price of Bitcoin, the largest cryptocurrency exchange in Korea, recorded $46002 as of 9 a.m. on the same day. Bitcoin fell to the $26670 mark in September after being hit by a global austerity, but has been rallying for the past two or three months. It surpassed $30480 in October and $38100 in November, breaking even 45720 dollars on this day. The rise of altcoin (small coins other than Bitcoin) is steeper. Dozens of coins have risen by dozens of percent in the past week alone, according to Upbit. Stacks (63.91%), Siacoin (35.74%), Elf (30.17%) and Near Protocol (28.22%) were among the top climbers. Extending the period to the last month, there are dozens of stocks that have recorded unbelievable returns, including Say (147.93%), Avalance (95.77%), Iota (81.36%) and Elf (76.48%). As the Bitcoin market price rises significantly, investors are expected to reproduce the ‘fire’ that has been sought by COVID-19 liquidity from 2020 to 2021. At the time, countries unpacked huge amounts of money to prevent the economic downturn caused by COVID-19, which flowed into the stock and cryptocurrency markets, boosting the market. In 2021, the price of Bitcoin surpassed $60960 and major altcoins have multi-folded in a few months, mass-produced numerous ‘thunderbolts’. However, some are wary of the fact that the damage caused by the ‘don’t ask investment’ that the financial market was concerned about may reappear. At the time, the coin market had a random rise without any good news or a technical rebound. In the end, even the story among investors was that ‘I bought a coin with a pretty name, but when I slept, it doubled’. Since there are many stocks that raise the market price without much causality, investment scams that randomly recommend coin stocks and accept money when the market price rises are rampant. At that time, it was before the law on reporting and use of certain financial transactions (special money law), and there were no regulations equivalent to the stock market, so it is suspected that there was a lot of market control by the old ‘whales’ (large-scale coin holders). However, the booming cryptocurrency market plunged more than half from $53340 to $22860 in May 2021 for no apparent reason, causing investment damage. Since then, it has risen to $60960 again, but it fell to $38100 in December 2021, continuing its recession until August of this year. Investors who are already quick are in the mood to start investing in coins.
US ASIA JOURNAL
EJ SONG
