Bitcoin’s Meteoric Rise: How a Humble 5 Million Start Led to a 400 Million Phenomenon and a Dizzying 200,000 Won Forecast
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[헤럴드경제=신동윤 기자] “I am a 30-year-old male who has been employed for 4 years. My mother’s friend said that her son bought <a href="https://www.newsdirectory3.com/trump-surge-sparks-bitcoin-boom-cryptocurrency-soars-to-record-high-as-us-treasuries-and-dollar-follow-suit/” title=”Trump Surge Sparks Bitcoin Boom: Cryptocurrency Soars to Record High as US Treasuries and Dollar Follow Suit”>Bitcoin with 5 million won before going to the military, but he must have been bragging to his mother that he recently earned more than 400 million won. They even said that they would make close to 3 billion won if Trump is elected this time. “To be honest, I may be a fool for not investing, but I saved, invested, and studied hard, but hearing things like this makes me feel ashamed and depressed.” (Online office worker community)
Bitcoin, a leader in virtual assets, continues to soar due to the effect of former US President Donald Trump’s victory in the US presidential election. Riding this trend, the price of Bitcoin appears to be soaring at a rapid pace, breaking the all-time record in just one day.
According to the financial investment industry on the 7th, according to the U.S. virtual asset exchange Coinbase on the 6th (local time), at 5:50 PM Eastern Time (2:50 PM Western Time), the price per Bitcoin was 9.16% compared to 24 hours ago. It rose to $75,914 (106.35 million won).
Bitcoin, which had been trading in the $73,000 to $74,000 range since breaking the $75,000 level for the first time on the day before the US presidential election, surpassed the $76,000 level on the 6th local time, one day later, raising its highest point to $76,500. .
At the same time, Ethereum, second in market capitalization, soared 11.86% and Solana soared 14%. Most virtual currencies soared, including Dogecoin, floated by Tesla CEO Elon Musk, who publicly supported former President Trump, soaring 17.21%.
The fact that investors who had bet on a decline in the price of Bitcoin hastily liquidated it to reduce losses due to the sudden price rise also drove the price up further.
According to CoinDesk, a media outlet specializing in coins, on this day, approximately $390 million worth of transactions betting on price declines in virtual currency derivatives trading were forcibly liquidated. The media explained that this is one of the largest in the last six months.
As former President Trump has shown friendly actions toward virtual assets, such as announcing that he will make the United States the virtual asset capital during this presidential election, the market is expecting easing of regulations on virtual assets.
Thanks to the surge in virtual assets, Coinbase’s stock price soared 31% during the regular trading session of the New York Stock Exchange on this day.
Meanwhile, Jeff Kendrick, global head of digital assets at Standard Chartered, predicted Bitcoin to reach $200,000 (280 million won) by the end of next year. He cited the fact that investment funds will flow into Bitcoin spot exchange traded funds (ETFs) and the abolition of mandatory accounting guidelines for virtual asset custody as the reasons for this outlook.
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