MEMETOON

The Bitcoin craze is spreading like a craze, with everyone from civil servants to college students proving high profits. Everything from bank savings to KOSPI funds are moving to the coin market. Among experts, there is a strong conflict between the optimism that a fire has begun and the pessimism that it is time to put it out.According to the industry on the 16th, Bitcoin recorded the largest fluctuation of the year the day before. After surpassing 100 million won for the first time in history on the 11th, it continued its high-altitude march and suffered its first decline. The price range recorded in the morning and afternoon order from the previous day&#39;s dawn was 99 million → 104 million → 96 million won. It&#39;s a coin-like fluctuation.As no asset rises in a straight line, a short-term sharp decline was expected. However, expert observations on the subsequent situation were mixed.First, the diagnosis is that it is a temporary retreat before entering a full-fledged bull market. From this perspective, it is assessed that the current Bitcoin price, which remains in the late 90 million won range, may be at a &#39;low point&#39;. In other words, the advice is that if you recognize the potential of Bitcoin, you need the courage to enter it now.The previous day, Korbit, a domestic virtual asset exchange, said in a newsletter titled ‘Bitcoin’s Potential that Only Becomes Visible from Intellectual Laziness’, “From a microscopic perspective, the current rise in Bitcoin will only be seen as a bubble,” adding, “Bit’s average price over the past 15 years has reached 200%. “To understand coin returns, you should not just look at trends for several months and draw conclusions,” he pointed out.He went on to say, “Short-term technical adjustments, which can also be seen in stocks, can occur at any time,” adding, “The listing of Bitcoin spot exchange-traded fund (ETF) on the U.S. stock market will bring institutional funds on a completely different scale than before into the Bitcoin market.” He said. There will definitely be an adjustment period, but unlike in the past, institutional demand and old money (old money (inherited wealth)) flowing in through ETFs will encourage Bitcoin&#39;s high altitude.Robert Kiyosaki, author of the international bestseller ‘Rich Dad, Poor Dad’, emphasized that now is a good time to buy. He said on the 6th (local time) through revealed.He added, &#34;Currently, the price of Bitcoin is on fire. The amount is not important. It should be meaningful to start first. Even if it is only $500, it is enough.&#34;There are also many pessimists concerned about overheating. There is an observation that it is time for Bitcoin, which has steadily risen since the end of last year, reflecting expectations for spot ETFs, to fall. Experts believe that if an adjustment is made accordingly, up to 77 million won could be lost. This is a 19% decrease from the current price (96 million won).On the 13th (local time), Negentropic, founder of Glassnode, a global virtual asset analysis company, said through ),” he said.CryptoQuant, an on-chain data analysis platform, said on the 12th (local time), &#34;Bitcoin&#39;s unrealized profit margin has reached 57%,&#34; and &#34;Usually, when this trend occurs, the market has experienced a correction, and selling pressure from short-term holders may also increase. “He explained.There is also an analysis that the large-scale selling by miners in preparation for the halving, which is about 30 days away, could encourage a correction. Miners&#39; profitability is also cut in half in line with the halving, which typically halves the supply of Bitcoin. This is because mining rewards are also reduced by half. Accordingly, the possibility of them conducting large-scale sales to cover project costs has always been raised.Cryptoquant analyst Joao Wedson said, “It is very likely that Bitcoin miners will cash out Bitcoin to make maximum profits ahead of the April halving,” and predicted, “This could lead to a price adjustment due to increased selling pressure.” .Original link: <a href="https://t.co/3CTPjh1hmA" rel="noopener noreferrer nofollow">https://newsis.com/view/?id&#61;NISX20240315_0002662898&amp;cID&#61;15001&amp;pID&#61;15000…</a>Twitter link: https://twitter.com/memetoonk/status/1769024605581459963

Fluctuating Bitcoin, will its high-flying march continue (newsis)

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