Bitcoin Korean premium chart by percentage (100 means that the currency rate is 100%)
The picture above is a Korean premium chart of Bitcoin where you can see the top three high points. The first one occurred in November, 2013. Let's have a look at the Bitcoin chart of the time.
The price of Bitcoin hit all time high, and it took about three years to recover the previous high price.
The second one occurred in May, 2017. Soon after Korean premium hit all time high, also the price of Bitcoin hit all time high. It took about a month to recover the previous high price.
The third one occurred in December, 2017. We can see that after Korean premium hit the highest point, both Bitcoin price and Korean premium turned bearish.
Now, we can set up a hypothesis that Korean premium can indicate the sentiment of Korean buyers and an early signal of a huge correction .
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