This website uses cookies to ensure you get the best experience on our website


06th Apr 2021
Dalmas Ngetich, for CryptoAltum News Team

Bitcoin Trading at Over $66k in South Korea, the 'Kimchi Premium' is Back!

Due to extremely high retail demand for Bitcoin in South Korea--a country historically known for being early adopters, knitting laws supportive of blockchain and digital assets, have reportedly seen the price of the digital gold roar to $66k. The divergence from standard prices of around $59.5k means Bitcoin is trading at a considerable premium in the country. This is the "Kimchi" premium, an opportunity for arbitrage exploitation.


Judging from recent developments--especially the doubling down by institutions and odds of the U.S. SEC approving any of the over five ETF applications in 2021, the retail demand for Bitcoin would thrust prices to new 2021 highs. The apparent scarcity of BTC in South Korea forces sellers to dispose of their coins at a significant profit as market forces try to balance out and bring prices close to equilibrium. However, as long as the demand for Bitcoin is high, the premium will exist, raking huge profits for arbitrageurs.

Impact on the BTC Price: 

Bullish. Demand for Bitcoin is high due to on-chain and macro-economic conditions that breed uncertainty. In this mix, investors flow to the Bitcoin network's stability and trust, lifting prices even higher.

More market news over on our Blog

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020