Bitcoin price today: Prolonging the green color
As of 6:30 PM today (January 28), Bitcoin - the world's largest electronic currency - according to market value recorded an increase of 1.78%, reaching 89,253.41 USD.
This new price contributed to increasing market capitalization, trading at the threshold of 1,756 billion USD, an increase of 27 billion USD. In the same direction, trading volume in 24 hours reached 39.25 billion USD, an increase of 2.71 billion USD.
Perspectives and forecasts
According to analysts, political volatility is causing investors to bet on gold as a safe haven asset, while Bitcoin has not created confidence.
Mr. Gabe Selby - Head of Research at CF Benchmarks said: "Concerns about the risk of the US Federal Government shutdown and fiscal instability have put pressure on Bitcoin. Factors supporting Bitcoin's price increase in the short term are still there, but increasingly more political than monetary.
Selby's analysis was made in the context that the world's largest cryptocurrency is falling significantly behind other assets such as stocks and precious metals, despite widespread expectations that the trend of legal tender devaluation in the macroeconomic context will push Bitcoin up sharply.
The prediction platform Polymarket believes that the possibility of the US government shutting down is up to 77%.
Gold prices have surpassed the 5,280 USD/ounce mark on Wednesday morning and increased by 85% in the past year. The S&P 500 index - a popular measure of the US stock market - is also approaching new peaks.
Meanwhile, Bitcoin - often called "digital gold" - has not yet regained the 90,000 USD mark. The entire cryptocurrency market is currently still down about 1,000 billion USD compared to the record high in October.
Unlike gold - a scarce precious metal, Bitcoin is vulnerable to cyber security threats.
Bitcoin is digitized, so in the long term it can be easily attacked by quantum computer algorithms, while gold only needs to be stored in a safe" - Mr. Ed Yardeni - Chairman of Yardeni Research argued.
Many leaders in the industry have also warned that quantum computers are a serious technical challenge for Bitcoin.
Among them are Coinbase, BlackRock and Jefferies - organizations that all believe that Bitcoin's security is entering a "unexplored zone" as quantum computer technology gets closer to reality.
According to Coingecko, there are currently nearly 20,000 cryptocurrencies being listed, which means fierce competition to attract capital flows from investors, according to analysts.
There are many types of cryptocurrencies besides Bitcoin, and this often affects the prices of "compatriots". And gold's "fathers" are just other precious metals such as silver, platinum and palladium - factors that can affect gold prices" - Mr. Yardeni said.
Mr. Yardeni is not the only one warning about competitive pressure on Bitcoin.
Bloomberg Intelligence strategist Mike McGlone also believes that Bitcoin is not like gold, because digital assets can be created with just a few lines of code.
Investor confidence in US assets is also being shaken by President Donald Trump's unpredictable policies. Foreign exchange market data shows that the USD fell nearly 2% against the Euro in January.
According to Mr. Yardeni, gold today still maintains its scarcity - like Bitcoin - from the role of storing value and application in technology.
However, he also noted that "fast gold price increases will encourage more mining activities, thereby potentially increasing supply in the market".
In Vietnam, the cryptocurrency asset market has been piloted from September 9, 2025, the pilot implementation period is 5 years.
However, organizations and individuals participating in the cryptocurrency asset market must comply with relevant legal regulations on preventing and combating money laundering, terrorist financing, financing the dissemination of weapons of mass destruction, electronic transactions, network information security, network security, data protection to ensure security and safety in the cryptocurrency asset market and other relevant specialized laws.
