Bitcoin Price $4,500 In South Korea As Uptake Race Continues
Bitcoin exchanges in South Korea have posted prices of up to $4500 in the past 24 hours, sparking speculation from the community.
South Korean Bitcoin traders are facing asking prices of $4,500 as the virtual currency’s price continues to surge.
Order books from domestic exchange Coinone list a current price of 4,254,000 won ($3805), with a 24-hour high of 5,025,000 ($4494).
On Coinbase, one Bitcoin is currently selling for $2667.53 as of press time on Thursday.
Users have presented various theories as to why South Korea’s exchange market is so varied, these ranging from capital controls to en masse arbitrage and even a “debt-fuelled bubble” economy.
Bitcoin itself, meanwhile, is continuing to produce new price highs, flying in the face of those concerned that a new bubble has formed.
Data from CoinMarketCap on Thursday sees another reverse in altcoin fortunes, with only Bitcoin and Ethereum Classic posting gains over the past 24 hours.
On the topic of the latter, Barry Silbert is continuing his advocacy, tweeting on Wednesday that his Ethereum Classic Investment Trust “will be donating $390,000 per year to development, marketing & community support for Ethereum Classic (for 3 yrs).”