[Bitcoin Now] Quiet at 57 Million Won... Altcoins Show Strength

Naive Bukele, President of El Salvador, "Bitcoin Will Rise to $100,000 This Year"

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The leading cryptocurrency Bitcoin remains around 57 million KRW. Meanwhile, some altcoins have shown strength.

According to the domestic cryptocurrency exchange Upbit, as of 2:14 PM on the 3rd, Bitcoin recorded 57.02 million KRW, down 0.89% from the previous day. Since falling below 60 million KRW on December 28 last year, it has been stagnant in the 50 million KRW range.

On the other hand, altcoins are showing an upward trend. At the same time, Kobak Token rose 33.46% from the previous day to 5,095 KRW. ELF, Alpha Quark, Ark, TON, and Moscoin also increased by 10.17%, 8.27%, 7.99%, 6.24%, and 5.73%, respectively. The previous day, Power Ledger, ELF, Ather, and Polymath rose 79.19%, 25.54%, 19.35%, and 18.83%, respectively.

Amid this, expectations are gathering that Bitcoin will also enter an upward trend. On the 2nd (local time), Nayib Bukele, president of the Latin American country El Salvador, tweeted, “I will present five forecasts for Bitcoin this year,” saying, “Bitcoin reaching 100,000 USD (approximately 119.29 million KRW), two countries adopting Bitcoin as legal tender additionally, becoming a major issue in the US elections, growth of Bitcoin cities and geothermal-based mining systems, and amazing events at Bitcoin conferences will happen this year.”

In September last year, El Salvador became the first country in the world to adopt Bitcoin as legal tender. Since then, President Bukele has begun focusing on building Bitcoin-related infrastructure. In November last year, El Salvador announced plans to build a Bitcoin city and supply energy through geothermal sources. El Salvador is also a country that holds more than 1,000 Bitcoins at the national level.

However, citizens’ reactions have been unfavorable. From the first day of Bitcoin’s adoption as legal tender, El Salvador’s citizen-exclusive cryptocurrency wallet “Chivo” was not downloaded from application platforms. In October last year, about 4,000 people gathered in San Salvador, the capital of El Salvador, to protest against President Bukele’s policies.

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