Bitcoin Surpasses 36 Million Won... Fearsome Upward Momentum↑

Showing a Continuous Upward Trend Since the Early Stages of the COVID-19 Pandemic

Photo by Getty Images Bank

[Asia Economy Reporter Kum Boryeong] Bitcoin prices are showing a fierce upward trend, surpassing 36 million KRW domestically.

As of 11:40 AM on the 3rd, Bitcoin on the virtual currency exchange Upbit recorded 36,892,000 KRW, up 3.34% (1,192,000 KRW) compared to the previous day. At the same time, on another virtual currency exchange Huobi Korea, Bitcoin prices rose 4.33% from the previous day to 36,393,000 KRW. The highest price of the day on Huobi Korea was 36,697,000 KRW.

On CoinMarketCap, Bitcoin also showed a 12.08% increase over the past 24 hours, reaching $32,893.45.

Bitcoin has steadily risen since the early stages of the COVID-19 pandemic.

CNN reported on the 2nd (local time), "Although the stock market plunged at the beginning of the COVID-19 pandemic, Bitcoin's value tripled over the past year," adding, "As the US dollar weakened, investors flocked to Bitcoin."

CNN further stated, "With the Federal Reserve expected to keep interest rates near zero for the next several years, Bitcoin is likely to continue gaining new fans."

Bitcoin previously reached a peak of over $20,000 in 2017. However, it fell to $3,000 in March 2019 before surpassing $20,000 again last month.

This content was produced with the assistance of AI translation services.