2023-06-23 23:55:00
[시사저널e=유길연 기자] This week (19-23), Bitcoin succeeded in rebounding by breaking through the $30,000 (approximately 39.2 million won) line at one time. It is analyzed that favorable news has occurred one after another, such as Jerome Powell, chairman of the US central bank Federal Reserve System (Fed), making positive remarks about virtual assets, and BlackRock, the world’s largest asset management company, entering the virtual asset market.
According to CoinMarketCap, a global virtual asset market site on the 24th, bitcoin was traded around $30,000 the previous afternoon. This is an increase of more than 17% compared to a week ago.
Bitcoin only crossed the line of $26,000 (about 33.97 million won) until last weekend. However, it soared from 11:00 pm on the 21st, and soared to 30,600 dollars (approximately 33.98 million won) at one time on the morning of the 22nd. In the aftermath of the Silicon Valley Bank (SVB) bankruptcy, it emerged as an alternative to the existing currency, and after soaring to $31,000 in April, it exceeded $30,000 in about two months. Since then, it has maintained the level of around $30,000.
Fed Chairman Powell appeared before the House Financial Services Committee on the 21st (local time) and said, “Cryptocurrency appears to have a status as money.” He went on to note that “we are looking at stablecoins for payments as a form of money.” The market reacted immediately when Chairman Powell, who took a negative stance on virtual assets, said this. He mentioned that until 2021, two years ago, “virtual currency is not suitable as a convenient payment method because of its fluctuating value.”
In addition, the fact that BlackRock applied for listing on a Bitcoin spot exchange-traded fund (ETF) worked as a good thing. On the 15th, BlackRock applied for the listing of ‘iShares Bitcoin Trust’, a Bitcoin spot ETF, to the US Securities and Exchange Commission (SEC).
In the market, as the world’s largest asset management company attempted to go public, there is a high possibility that approval will be granted. According to CoinDesk, a U.S. media outlet specializing in virtual assets, Bob Baxley, CTO of Maverick Protocol, a decentralized financial infrastructure company, said, “Approval of the Bitcoin ETF is almost certain.” It is clear,” he predicted.
In addition to BlackRock, a number of global asset management companies are expected to pursue ETF listing. First of all, Wisdom Tree and Invesco also applied to the US SEC to list Bitcoin spot ETFs. In addition, EDX, a virtual currency exchange co-founded by six financial firms on Wall Street, including Citadel Securities and Fidelity Investment, recently started trading bitcoin and ethereum, which is also cited as a reason for the rise in the market price.
Hayden Hughes, co-founder of the social trading platform ‘Alpha Impact’, said, “BlackRock’s ETF announcement and EDX give hope that these institutions will add depth to the virtual asset market.”
The ‘Fear/Greed Index’ compiled by Alternative, a global virtual asset data research company, also rose significantly. The previous afternoon, the index scored 65 (greedy), up 18 points from a week ago (47, neutral). The index indicates that the market sentiment is closer to extreme fear as it approaches 0, and as it approaches 100, it means extreme optimism.
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