[Bitcoin Now] Settling at 8 Million Won... "Reaching 20,000 Dollars Is Still a Distant Talk"

4% Chance of $20,000... 16% Probability for $10,000

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[Asia Economy Reporter Minwoo Lee] The price of Bitcoin has settled in the 8 million KRW range. However, the prospect of reaching $20,000 (approximately 24.65 million KRW) as in the past is still considered distant.

According to the domestic cryptocurrency exchange Upbit on the 2nd, as of 4 p.m., the price of Bitcoin stands at 8.04 million KRW. This is a 6.8% increase compared to the previous day's low of 7.53 million KRW. After surpassing 8 million KRW around 7 a.m. that day, the price has been stably maintained in the 8 million KRW range.

Other major cryptocurrencies such as Ethereum and Ripple also rose slightly. Ethereum is showing 166,100 KRW, up 0.8% from the previous day. At the same time, Ripple is at 214 KRW, up 0.94% from the previous day.

However, analysis suggests that the possibility of Bitcoin's price exceeding $20,000, the level seen at the end of 2017 to early 2018, is only 4%. Cryptocurrency specialized media CoinDesk cited the cryptocurrency derivatives data analysis firm Skew Market for this report. Skew Market, after analyzing various indicators in the options market, claims that the probability of Bitcoin's price reaching an all-time high within this year is 4%, and the chance of surpassing $10,000 is only 16%.

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