BTC Price on the South Korean Market

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: eon50 on May 29, 2017, 02:08:26 PM

Hi,
Does anyone have a sound explanation of the BTC markets in South Korea? Price spread is unbelievably high, like there is no interconnection between the markets in other countries.
Check the KRW pairs: https://coinmarketcap.com/currencies/bitcoin/#markets
Thanks!

I would say they are learners in the exchange business and they might learn the hard way if they don't adjust in due time because by the time large number of people cash in on the arbitrage trading in which they are providing, and they run into a massive cashflow issue without being able to meet the needs of their clients then they will learn the hard way. No one is an island and no exchange site can stand alone.

OROBTC

legendary

Activity: 2968

Merit: 1895

...

I think I could understand larger than expected differences between certain markets for BTC like the USA.

If there are few ways to BUT Bitcoin in any market, yet people want them, that is at least part of the explanation: pay up or no BTC for you!

Strict government controls (and even propaganda) may scare off other users. Venezuela would be an interesting data point here...

I do business with Korea (buying auto parts), but the representatives of the companies I deal with have not heard of BTC nor have any interest.

TryNinja

legendary

Activity: 2758

Merit: 6830

$2950.64 per coin? Too damn cheap for my taste. Cool

Check out the price in one of the biggest exchanges in Brazil:

BitcoinToYou: $3074.75

And this is considering that the cryptocurrency public in Brazil is quite limited and that the chance of finding someone who messes with Bitcoin on the street is quite low. But the demand of Bitcoins here is always higher than the amount for sale, which makes the price rise almost 20% in comparison with other international exchanges. And it's always been that way.

klarki

legendary

Activity: 3262

Merit: 3675

Top Crypto Casino

Quote from: eon50 on May 29, 2017, 02:08:26 PM

Hi,
Does anyone have a sound explanation of the BTC markets in South Korea? Price spread is unbelievably high, like there is no interconnection between the markets in other countries.
Check the KRW pairs: https://coinmarketcap.com/currencies/bitcoin/#markets
Thanks!

This is a temporary phenomenon.
Soon the market is stabilizing.

eon50

newbie

Activity: 3

Merit: 0

Hi,
Does anyone have a sound explanation of the BTC markets in South Korea? Price spread is unbelievably high, like there is no interconnection between the markets in other countries.
Check the KRW pairs: https://coinmarketcap.com/currencies/bitcoin/#markets
Thanks!

Topic: BTC Price on the South Korean Market (Read 360 times)