[Bitcoin Now] Bitcoin Hesitates... Drops to 13 Million Won Range

Major Cryptocurrencies Also Decline
Gold Prices, a Representative Safe Asset, Show Recovery Trend

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[Asia Economy Reporter Minwoo Lee] The price of Bitcoin, the leading virtual currency (cryptocurrency), has fallen to the 13 million KRW range.

According to the domestic cryptocurrency exchange Upbit, as of 3:40 PM on the 19th, the price of Bitcoin was recorded at 13.79 million KRW, down 1.53% compared to 24 hours earlier. While Bitcoin's price rose as it is considered a safe asset when the domestic stock market plunged the previous day, it fell as the stock market rebounded. On the same day, the KOSPI, which had dropped about 2.4% the previous day, rebounded and closed at 2360.54, up 0.52% (12.30 points) from the previous session.

Other major cryptocurrencies are also showing weakness. Ethereum was traded at 479,000 KRW, down 3.11% compared to 24 hours earlier. Ripple also recorded a 3.66% decline during the same period, closing at 342 KRW. Additionally, EOS (-4.54%), Bitcoin Cash (-2.32%), and TRON (-6.23%) all showed consecutive declines.

Meanwhile, the price of gold, a traditional safe asset, surpassed $2,000 per ounce again on this day. On the 18th (local time) at the New York Mercantile Exchange, December delivery gold closed at $2,013.10 per ounce, up 0.7% ($14.40). After a historic rally, gold prices plunged 4.6% on the 11th but recovered the $2,000 level within a week.