As the cryptocurrency market exhibits a short-term correction, Bitcoin (BTC) is currently trading at around 125.8 million won, down approximately 0.47% over the past 24 hours. Market participants are focusing on the possibility of testing key support levels.
Rob Hardick, an analyst at Dragonfly, said in a CNBC interview that Bitcoin's return before the 2024 U.S. presidential election is approximately 26%, similar to the Nasdaq's 28% gain. He analyzed that this suggests cryptocurrencies are exhibiting growth trends similar to traditional financial markets. He added, "The medium- to long-term outlook for the cryptocurrency market through 2026 is very bright."
Ethereum (ETH) is currently trading at 4.23 million won, down about 0.12% from the previous day. Ripple (XRP) is trading at 2,695 won, down 1% over the past 24 hours, showing a similar trend to Bitcoin. No positive news was confirmed for the day.
Solana (SOL) is also continuing its downward trend, trading at around 177,000 won, but some altcoins, such as MOVE, AVNT, and ZBT, are showing an upward trend, rising 33%, 20%, and 19%, respectively, forming a contrast.
Market experts interpret this downturn as a correction within a long-term trend, and anticipate that policy changes and the influx of institutional investors following the US election will have a positive impact on the market. Furthermore, given that Bitcoin is demonstrating returns comparable to those of traditional financial markets, the potential for digital assets to mature is being discussed.
The industry is suggesting that the current price adjustment could be viewed as a potential buying opportunity, considering the long-term positive factors, such as the upcoming Bitcoin halving.
TokenPost AI Notes
This article was summarized using a TokenPost.ai-based language model. Key points in the text may be omitted or inaccurate.
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