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18.11 - 08:19
How a new Bitcoin ATH might be triggered by the Kimchi Premium
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Bitcoin has been comfortably resting above the $61,500-mark, with the larger market rejoicing at the crypto’s uptrend over the past few weeks. However, this wasn’t a moment to rejoice for one section of traders who saw their profits dwindle. Notably, in spite of the bullish momentum, the Kimchi Premium or the Korea Premium Index has been trading at all-time low levels.
So, what’s this complicated relationship between the Korea Premium and BTC’s price, and can the same predict Bitcoin’s momentum?
Bitcoin’s “Kimchi premium” is the difference between prices on South Korean exchanges and other global exchanges. While it can be speculated that the price difference is due to the lack of high-return investment options for investors in South Korea,
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