Topic: [2017-12-07] Bitcoin rises over $18,000 in South Korea (Read 2897 times)
Bitcoin is highly popular in South Korea, hence one should not be shocked by such a surge in price in this region as it clearly indicates the rising demand of Bitcoin among new users. But if we read the link in the OP it clearly states that limited liquidity of Bitcoin int he country pushes the price to rise above the general price globally. Same phenomena can be observed in the counties like Zimbabwe, India and so on where the market liquidity is less hence pushing the price above from the global price.
I think the main reason of the high premium price of bitcoin in south korea is fear of war, if started then anything can happen. Same thing happen when demonitization started in India that time also Indian exchanges traded bitcoin in 30 to 40% premium. That is why south korea users are converting their fiat currency to Bitcoin.
What happened in Korea today? Everything was priced. Is the war imminent? Will start this week? Something must have happened.
We don't know if there's a war or what. But we do know is that the Asian market particularly Korean's are really going crazy about bitcoin buying. And they don't care if they if gonna get it at a premium price. It looks like this is really driven by the financial investors who are moving this price to astronomical levels that really surprises even the most bullish members around.
@richardsNY , nice move mate, cashing out earlier, the price is going down as we speak, but not that significant though, I wanted to cash out earlier, but I got a little bit busy on my end. LOL. At least you have make some profits already and its a win-win situation on your end as well.
What happened in Korea today? Everything was priced. Is the war imminent? Will start this week? Something must have happened.
Bithumb just broke through the $21,000 level! It's mind boggling how everything is going today. It's almost like an if you don't buy Bitcoin today, you'll die situation. I wake up, the market is up. I finished breakfast, the market went up more. I am in the gym doing some cardio, the price went up again. I come home and take a shower and guess what.... The price has gone up even more! I cashed out 20% of my profits as soon as the market went over the $16,000 level. In this situation I can look forward to the market going up even more, but also when it's going down. In easy terms, I win regardless of what direction the market moves into from here.
On 7th of December the bitcoin price has surpassed $18,000 in South Korea. The average price of bitcoin in the global market across major regions including the US and Japan remains at $15000. Thus, in the South Korean bitcoin exchange market bitcoin is being traded with an average premium of $3000.
Read full article: http://cryptobible.io/bitcoin-rises-18000-south-korea/
Read full article: http://cryptobible.io/bitcoin-rises-18000-south-korea/
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