The price of Bitcoin, which had been soaring due to the 'Trump rally', has fallen below $90,000.
As of 8:55 am on the 18th, Bitcoin recorded 12,647 million won on the domestic virtual asset exchange Upbit. It is trading at 12,641 million won on Bithumb. On the virtual asset market monitoring site CoinMarketCap, it showed $89,842.
At the same time, Ethereum, the second largest in market capitalization, recorded 433 million won on Upbit and 433 million won on Bithumb. It was traded at $3,076 on CoinMarketCap.
Bitcoin, which had broken through $93,000 for the first time in history on the 13th due to the influence of the election of former President Donald Trump, has been fluctuating and declining since then. On the 14th, the decline widened after Jerome Powell, chairman of the US Federal Reserve (Fed), said that "the US economy is not sending any signals that it needs to hurry to cut interest rates".
The outlook for Bitcoin is mixed. Coin Telegraph, a virtual asset specialized media, predicted that if Bitcoin exceeds its previous high of $93,265, it will soar to $100,000 afterwards. On the other hand, there are also observations that the current selling pressure may continue and it may fall to the $80,000 range.
