Strong Korea Demand Helping to Boost Bitcoin Price
The price of Bitcoin pushed beyond the $11,600 mark Tuesday morning.
South Korea has played a pivotal role in cryptocurrency price fluctuations over the past month. Talk of a regulated market and potential bans in South Korea are widely believed to have forced the price downwards.
Now we have some positive news coming out of that nation.
From CoinDesk.com:
Notably, valuations are higher over on data provider CoinMarketCap, where high prices in South Korea seem to be inflating the figures. At press time, bitcoin was quoted at $11,591 - up 5.5 percent over 24 hours, and 35 percent for the week.
The site's market data reveals that on South Korean exchanges Bithumb and Upbit bitcoin is changing hands via the BTC/KRW pair at over $12,300.
That price differential may mark returning confidence in South Korea, CoinDesk.com suggests.
- Aaron Goldstein, Gambling911.com
