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RE: Bitcoin: Breaking - this is why Bitcoin prices on Coinmarketcap seem to plunge

in #coinmarketcap7 years ago

Yes, the arbitrage in other markets comparing to Korean markets is huge! The main reason: very strict restrictions in Korean exchanges. It takes ages to withdraw cryptos from Korean eWallets or Exchanges. On the other hand when cryptos are such a popular phenomenon in Korea, worth to look from time to time in their pricing, because the chances are that the prices in other markets will follow: whether it's a dip, or a massive rise.

I noticed that about a month ago, couple weeks before Christmas, that Bitcoin's price is directly correlates to Korean's pricing. Ofc used it to my advantage too.

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You are right. One further reason for this might also be that Korean exchanges enabled accounts that were somewhat anonymous which might have been attractive for some buyers / sellers.

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