[Bitcoin Now] Quiet for Two Days... 15 Million Won Breakthrough 'Not Yet'

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[Asia Economy Reporter Minwoo Lee] The price of Bitcoin, the representative virtual currency (cryptocurrency), remains in the high 14 million KRW range. It seems unable to surpass 15 million KRW, which it reached about 1 year and 3 months ago.

According to the domestic cryptocurrency exchange Upbit on the 27th, as of 3:55 PM, the price of Bitcoin recorded 14.73 million KRW, down 0.24% compared to 24 hours earlier. Since reaching 15 million KRW on the 25th, it has struggled to exceed that level. This is the first time Bitcoin has reached 15 million KRW since July 10 of last year.

Bitcoin, which stayed in the low 12 million KRW range until early this month, began to rise from the 8th. On the 21st (local time), when news broke that PayPal, the world's largest simple payment service provider, decided to offer cryptocurrency services, the price surged nearly 1 million KRW at once. PayPal, used by about 350 million people worldwide, plans to add cryptocurrency trading functions by the end of the year and support cryptocurrency payments at all online merchants early next year.

Meanwhile, Ethereum, also considered a representative cryptocurrency along with Bitcoin, showed a sluggish trend. It recorded 443,750 KRW, down 0.23% compared to 24 hours earlier. Ripple rose 0.35% during the same period to 283 KRW.