Bitcoin price is rising again. Unlike the 2017 cryptocurrency craze, the positive outlook for bitcoin by institutions is the driving force behind the uptrend. However, there are still concerns that the value of virtual currency has been overvalued.
According to the cryptocurrency exchange Bithumb, as of 3:30 pm on the 3rd, 1 bitcoin was traded at 5,593,2500 won. At the same time, on another exchange, Coinone, Bitcoin was traded at 5,594,000 won.
Bitcoin prices have fluctuated dramatically in the last 10 days. Bitcoin, which soared to 65085,000 won on the 21st of last month as of Bithumb, retreated to the 49 million won mark on the 28th of the same month.
However, it has recently turned to the uptrend when Citigroup, a large US bank, released a favorable report on Bitcoin.
In a report on the 1st, Citigroup said, “Bitcoin’s future is still uncertain, but it is at a tipping point (inflection point) where it will enter the mainstream or speculatively collapse.” I predicted.
Reporter Beomsoo Kim [email protected]
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