Strong Korea Demand Helping to Boost Bitcoin Price

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Published on:
Feb/20/2018

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

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