Bitcoin is trading at $66k in Korea
The Kimchi Premium in BTC is back!
We saw this back in 2017 quite a bit, and now we are seeing it again here in 2021.
Bitcoin is starting to trade at significantly higher prices in Asia than in the US.
It's affectionately known as the Kimchi Premium.
Check it out:
(Source: https://twitter.com/BTC_Archive/status/1379026887360573448/photo/1)
This means investors in Asia are applying so much buy pressure that the exchanges can't keep the price pegged with other markets.
This likely means the price of bitcoin gets pulled up in the US as well.
The price tends to go to wherever the most volume is, and right now the most volume is in Asia.
This also sparked a major altcoin season back in 2017.
I think we are seeing that right now as well.
Amazing , the question now is how can one benefit from arbitraging the asian and usa market.
Good question... if you have access to exchanges in both place, you can probably do a bit of that right now....
Amazing , In India it's trading at around $58000. if someone with excess to both the Exchanges know this then he / she might try to make some benefit this situation.