The prices of the extraordinary bitcoin return to South Korea with a market value of 385 billion dollars
Over the past seven days, the digital currency market has risen in value from $ 324 billion to $ 385 billion, with the price of the bitcoin rising from $ 8,000 to $ 8,800 and other digital currencies also posting gains in the range of 10 to 20%.
South Korea's special prices are returning
Until last week, the price of CRYPTOcurrencies, including bitcoin, Atherom and Ripple, was cheaper in South Korea compared to other markets such as the United States, Japan and Hong Kong. The lower rates for the crypto currency in the South Korean domestic market, and on trading platforms such as Bithumb and Korbit, were odd. Given that the value of digital currencies is usually higher in South Korea by between 5% and 30%.
Where South Korean digital currencies tend to be more expensive than other regions, due to the decline in supplies. The state has relied on minerals in China and Japan for digital currency, but its ban on foreign currency traders has led to a real reduction in supply from Bitquin and other major currencies as well. As a result, digital currency prices have risen significantly in 2017 and 2018.
Looking at these events and factors, analysts found that the rates of increase in the few digital currency prices in South Korea are abnormal and a strong indicator of a bearish market. Investors are no longer interested in investing in the digital currency market even with these low prices. In December last year, when the "fear of not paying attention" or "FOMO" situation hit South Korea, investors were willing to invest in the market in increments of 30 to 40 percent. As a result, when the price of the Betquin reached $ 20,000 worldwide, the price of the South Korean betcoin was about $ 25,000.
The return of exceptional prices in the South Korean currency market is indicative of rising demand for digital currency in the domestic market. Investors have become more confident of the market's ability to recover and the short-term performance of both major and minor digital currencies.
At the time of this report, Betiquin was trading on the Bithumb platform, the country's largest currency trading platform, at $ 8,975, up $ 100 from the global price of $ 8,870. While the current price in the South Korean digital currency market is not necessarily high, the mere fact that South Korea's exceptional prices are re-emerging is showing investors' optimism about the market.
Primary digital currencies perform exceptionally well
The "ERC20" primary digital currencies, including "Storm", "Aion", "Zilliqa", "0x", "WanChain" and "ICON" were exceptionally good against Bitquin, which recorded strong gains last week Also. Since the 16th of April in a week, the price of Betcairn has risen by more than 10%.
Traders have become more comfortable taking risks by raising money in digital currencies outside basic digital currencies such as Betquin and Atherom. Initial digital currencies, such as "Zilliqa", "Storm" and "0x", rose more than 20% against last week's Betquin, which is a 30% increase against the USD if strong Betquin performance is taken into account.
If the Securities and Exchange Commission (SEC) has accepted the demands of most major venture capital firms, such as Andressen Horowitz, and has refused to close the ICOs with very strict policies, the value of the primary currency Rising during this recovery period.