Bitcoin Slightly Rises... Trading at Around 47 Million Won

On the 7th, as the cryptocurrency prices continue to decline, the Bitcoin price is displayed on the price board at Bithumb Gangnam Customer Center in Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Kim Jin-ho] On the 30th, Bitcoin showed a slight rebound in the domestic cryptocurrency market, trading in the 47 million KRW range.

As of 3:30 PM on the same day, on the cryptocurrency exchange Upbit, 1 Bitcoin was priced at 47,239,000 KRW, up 455,000 KRW (1%) compared to 24 hours earlier.

Bitcoin, which had recently experienced extreme volatility, appears to have entered a consolidation phase since the end of last week. This is attributed to the easing of risk-averse sentiment following Apple’s announcement of record-breaking quarterly earnings for Q4. The Nasdaq index closed at 13,770.57 on the 28th (local time), up sharply by 3.13%.

However, as fears of tightening by the U.S. Federal Reserve (Fed) continue, the cryptocurrency market is still likely to experience increased volatility for the time being.

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