Bitcoin price surpasses 50 million won… Does the uptrend continue?

The price of ‘Bitcoin’, the representative cryptocurrency, has again exceeded 50 million won.

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At Bithumb, a domestic cryptocurrency exchange, the price of each bitcoin was 50,737,000 won as of 8:40. This is an increase of 0.16% from the same time the day before. Upbit, another exchange, is also trading at 50,742,000 won.

Bitcoin prices surged over the weekend. At one point on the weekend, the price was the highest since May. This is the effect of reviving the ‘risk taking’ psychology for virtual assets as bitcoin optimism has risen. However, profit-taking properties are coming out, and the current high is slightly lowered.

Some experts are predicting that Bitcoin can continue its upward trend for the time being as it has escaped its box.

“Bitcoin has crossed the $45,000 mark,” Katie Stockton, a partner at cryptocurrency firm Fairlead Strategy, told Bloomberg. We can rally up to (about 58.3 million won),” he said.

Ethereum was traded at 3,525,000 won on Bithumb. The price is down 1.40% from 24 hours ago. On Upbit, 1 Ethereum is 3,528,000 won.