Bitcoin Eyes $ 12,000 in South Korea as market demand increases cryptocurrency - Feb 18
Bitcoin has created significant momentum in the past 24 hours, surpassing the $ 11,000 mark. The majority of alternative cryptocurrencies on the market have performed poorly against Bitcoin, as the most dominant in cryptocurrency the market has continued to lead a strong recovery.
Compared to the US dollar, Bitcoin has risen nearly 8 percent since February 17, reaching $ 11,200. Apart from some small cryptocurrencies such as Aion, Bitcoin has been the most successful in the crypto-currency major market.
Every top 20 cryptocurrency on the world market has seen a loss against Bitcoin in the last 24 hours, with ethereum native Ethereum cryptocurrency showing a 5 percent loss, with Litecoin recording a 7 percent loss, and the NEO record near a loss of 8 percent compared to Bitcoin.
Throughout January, the market has experienced one of the worst cryptocurrency corrections in history, as most cryptocurrencies have declined by about 70 percent of their historic highs (ATHS). Since the beginning of February, the market has been continuously recovering cryptocurrency, but major cryptocurrencies with robust infrastructure, community support effect and the network have had an edge over other alternative cryptocurrencies.
During a payback period, when new investors and traders enter the space as the market begins to see gains, high-bandwidth cryptocurrencies such as Bitcoin has a distinct advantage over other alternative cryptocurrencies. Most investors who have left the market as the cryptocurrencies price has fallen have made it panic and fear.
During a payback period, when new investors and traders enter the space as the market begins to see gains, high-bandwidth cryptocurrencies such as Bitcoin has a distinct advantage over other alternative cryptocurrencies. Most investors who have left the market as the cryptocurrencies price has fallen have made it panic and fear.
Most investors who enter the space know FOMO now, or the fear of running out. Therefore, if FOMO leads new investors on the scene, especially from high profile and large-scale institutional investors, the fire to investment is Bitcoin.
As investment advisor Ross Gerber said, Wall Street's demand for Bitcoin and large buyers has increased over the last week.
"Bitcoin $ 11,000. Interviewed a major investment management company the other day. It did not take long until they started asking me crypto questions. Started taking notes. What parts do. How does it work? Believe me the big players are watching, "Ross said.
As investment advisor Ross Gerber said, Wall Street's demand for Bitcoin and large buyers has increased over the last week.
"Bitcoin $ 11,000. Interviewed a major investment management company the other day. It did not take long until they started asking me crypto questions. Started taking notes. What parts do. How does it work? Believe me the big players are watching, "Ross said.
South Korea
The demand for Bitcoin and other cryptocurrencies has been on the rise in the South Korean cryptocurrency market, as the "Premium Kimchi" has reappeared in major markets, including Bithumb and Korbit cryptocurrency. Although the premium is only about 2 to 3 percent, which is significantly lower than its rates in December, at some point in February, premium rates have disappeared in South Korea due to a lack of request.
South Korea is a major market for alternative cryptocurrencies like EOS, Qtum, Cardan, Ethereum and Ripple. South Korea's foreign exchange market cryptocurrency accounts for only about 6 percent of global Bitcoin trade, but for the rest, the country remains one of the largest markets.
South Korea is a major market for alternative cryptocurrencies like EOS, Qtum, Cardan, Ethereum and Ripple. South Korea's foreign exchange market cryptocurrency accounts for only about 6 percent of global Bitcoin trade, but for the rest, the country remains one of the largest markets.
UpBit, the only cryptocurrency exchange in the country that supports more than a hundred cryptocurrencies, has always been the second largest cryptocurrency exchange on the global market, behind Binance.
Given that the market experienced a major cryptocurrency correction in January, most analysts in the South Korean market are only planning the market to begin its payback period in February. But, demand is already growing in the local market and analysts expect it to be reflected in the global market in the coming weeks.
Given that the market experienced a major cryptocurrency correction in January, most analysts in the South Korean market are only planning the market to begin its payback period in February. But, demand is already growing in the local market and analysts expect it to be reflected in the global market in the coming weeks.
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