Bitcoin Stops Up, Stops Below $88,000 Line

Bitcoin, which had been hitting record highs every day since U.S. President-elect Donald Trump's victory, has stopped rising.

U.S. Federal Reserve Chairman Jerome Powell's comments made the outlook for a rate cut in December unclear, leaving it below the $88,000 mark.

On the U.S. cryptocurrency exchange Coinbase, the price per unit of Bitcoin was trading at $87,683, down 1.92% from a day earlier.

Since breaking the $93,000 mark for the first time the previous day, the price has fallen by more than $5,000 from the previous day's high.

This is attributed to growing concerns that high interest rates will be maintained and liquidity supply to virtual currencies will be limited and investment avoidance sentiment will increase as Powell said there is no need to hurry to cut interest rates.