Amid a short-term correction in the cryptocurrency market, Bitcoin is currently trading at approximately 125.8 million Korean won, down about 0.47% from 24 hours ago. Market participants are closely watching the testing phase of key support levels.
In a CNBC interview, Dragonfly Capital analyst Rob Hadick stated, "Bitcoin's return is approximately 26% before the 2024 US presidential election," explaining that this is similar to the Nasdaq's 28% increase. He believes this indicates that cryptocurrencies are exhibiting growth trends similar to traditional financial markets. He added, "The medium- to long-term outlook for the cryptocurrency market is very bright until 2026."
Ethereum is currently trading at 4.23 million Korean won, down approximately 0.12% from the previous day; Ripple is trading at 2,695 Korean won, down 1% in the last 24 hours, showing a similar trend to Bitcoin. No particularly positive news was confirmed for the day.
Solana also traded around 177,000 won, continuing its downward trend. However, some Altcoin such as MOVE, AVNT, and ZBT rose by 33%, 20%, and 19% respectively, showing an upward trend, creating a contrast.
Market experts interpret this decline as a correction phase within a long-term trend, anticipating that policy changes following the US election and the influx of institutional investors will have a positive impact on the market. Furthermore, given Bitcoin's demonstrated returns comparable to traditional financial markets, its potential as a maturing digital asset has also been mentioned.
Industry experts believe that, considering long-term positive factors such as the upcoming Bitcoin halving, the current price correction may be seen as a potential buying opportunity.
TokenPost AI Notes: This article uses a language model based on TokenPost.ai for its summary. The main content may be omitted or may differ from the facts.
