Bitcoin, which had plunged the previous day, succeeded in reversing the rise due to the inflow of low-priced buying and recovered $40,000.
The previous day, Bitcoin fell from $43,000 to $31,000.
Bitcoin is recording $489, up 1.05% from 24 hours ago as of 3:40 pm on the 20th (Korean time).
Earlier, bitcoin had a buy-and-sell battle for several hours with 40,000 dollars, and eventually surpassed 40,000 dollars.
At the same time, the Korean trading site Upbit is also trading at 51212,000 won, up 1.65% from 24 hours ago.
Bitcoin’s upward reversal is attributed to the influx of low-priced buying.
Earlier, CNBC, a US broadcaster specializing in economics, reported that the plunge in cryptocurrency brought the best opportunity to buy at a low price.
CNBC interviewed two cryptocurrency experts and said that if you are considering a long-term investment, this crash is a great opportunity to buy at a low price.
Delano Saporu, the CEO of New Street Advisor Group, told CNBC that “if you are an investor thinking of a long-term investment, there will be no such good opportunity to buy at low prices for the time being.”
However, he added, “Bitcoin will remain weak for the time being.” He cited Tesla’s cancellation of bitcoin payments, and China’s again cracking down on cryptocurrencies.
In an interview with MKM Partners chief market strategist JC Ohara, according to the chart analysis, Bitcoin is expected to remain weak for the time being, but Ethereum is likely to rebound immediately. “If we miss this opportunity, we will never have this opportunity again,” he stressed.
