[2017-05-21]Bitcoin Price Hits $2,087, Trading in Japan, South Korea for $2,350

[Karpeles]

Bitcoin price established its new all-time high at $2,087 earlier today after surging past its previous all-time high set at $2,050, with demand toward Bitcoin rising from institutional investors in the US, Japan and South Korea.
At the time of writing, Bitcoin is being traded in Japan and South Korea, the second and third largest Bitcoin exchange markets in the world, at around $2,350, at an 11 percent premium relative to the global average Bitcoin price and the price listed by US-based Bitcoin exchanges.

Analysts including Charles Hayter, the CEO of CryptoCompare, explained that the Japanese and South Korean Bitcoin exchange markets played a key role as the driving factor of Bitcoin’s recent price surge. In an interview with CNBC, Hayter stated:

https://cointelegraph.com/news/bitcoin-price-hits-2087-trading-in-japan-south-korea-for-2350

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[LLec]

Japan does have more at stake with having the highest amount in an exchange traded in the beginning of the year to surpass China as the highest amount accumulated in value.
And now it looks like South Korea is following the leader in suit because they are all about just copying innovation to make themselves feel better about their economy. Just look at the automotive industry to compare what has happened there in the late 80's into the 90's with theses countries battling it out in that industry and now moving on to 2017 with the financial procurement of bitcoin.
It will end just the same.
You can just watch that movie Gung Ho to get what I am talking about.

[BitcoinPanther]

It is expected that Japan will be one of the exchanges that will have the highest price of Bitcoin.  But I was surprised when South Korea have the same trading price as Japan since I have not read about the certain hype of bitcoin in that country.  But if ever bitcoin is being accepted in South Korea, that is a good news.  I hope they also influence North Korea to be a bitcoin-friendly nation.

[1Referee]

It is expected that Japan will be one of the exchanges that will have the highest price of Bitcoin.  But I was surprised when South Korea have the same trading price as Japan since I have not read about the certain hype of bitcoin in that country.  But if ever bitcoin is being accepted in South Korea, that is a good news.  I hope they also influence North Korea to be a bitcoin-friendly nation.

It has all to do with the availability (in this case, the lack of) of on-exchange coins. If in a certain country there is more demand than actual coin availability, it would mean for people that they have to buy up the price just in order to obtain their desired number of coins. It's just a start, because I seriously believe that the overall availability of on-exchange coins will only decrease in the coming years due to the increasing adoption throughout the world. And no, I don't see North Korea ever going to be friendly towards anything that involves internet.

[richardsNY]

It's just a start, because I seriously believe that the overall availability of on-exchange coins will only decrease in the coming years due to the increasing adoption throughout the world.

Correct. I must however note that the difference in mentality plays an important role too. People aren't as short term minded as they used to be years ago. China is no longer the main player in terms of trading. The Chinese are known for their gambling-like investment style, plus they are extremely short term minded. I even read stories of them taking out loans and mortgages just to speculate on the financial market. It's mind boggling how stupid certain people are.

[planfox]

It's just a start, because I seriously believe that the overall availability of on-exchange coins will only decrease in the coming years due to the increasing adoption throughout the world.

Correct. I must however note that the difference in mentality plays an important role too. People aren't as short term minded as they used to be years ago. China is no longer the main player in terms of trading. The Chinese are known for their gambling-like investment style, plus they are extremely short term minded. I even read stories of them taking out loans and mortgages just to speculate on the financial market. It's mind boggling how stupid certain people are.

I am very pleased with the fact that China can no longer manipulate the price of bitcoin. At a time when China banned trading on the exchange with a cryptocurrency, I thought that bitcoin would cease to exist. But fortunately I was wrong

[richardsNY]

It's just a start, because I seriously believe that the overall availability of on-exchange coins will only decrease in the coming years due to the increasing adoption throughout the world.

Correct. I must however note that the difference in mentality plays an important role too. People aren't as short term minded as they used to be years ago. China is no longer the main player in terms of trading. The Chinese are known for their gambling-like investment style, plus they are extremely short term minded. I even read stories of them taking out loans and mortgages just to speculate on the financial market. It's mind boggling how stupid certain people are.

I am very pleased with the fact that China can no longer manipulate the price of bitcoin. At a time when China banned trading on the exchange with a cryptocurrency, I thought that bitcoin would cease to exist. But fortunately I was wrong

China made people believe that they were a significant factor in Bitcoin. After the sanctions that have been put in place by the PBOC, China's real face has come out of hiding -- there is nothing left of China anymore in terms of trading. Right now they are following the western exchanges to move up or down. No more idiotic manipulation, no more reckless gambling through margin trading, perfect!

[1Referee]

China made people believe that they were a significant factor in Bitcoin. After the sanctions that have been put in place by the PBOC, China's real face has come out of hiding -- there is nothing left of China anymore in terms of trading. Right now they are following the western exchanges to move up or down. No more idiotic manipulation, no more reckless gambling through margin trading, perfect!

China's "exit" has been the best thing that could happen to Bitcoin in years. It was ridiculous how even the slightest news from China affected the market in a major way. Seriously, the high frequency traders there squeezed out the market like it was a wet sponge. If you look at how the market is behaving before and after the PBOC regulations, then you can definitely notice a possitive difference. But then again, it wasn't all negativity as the heavy market fluctuations were like a gift to all traders.

[Slow death]

...And no, I don't see North Korea ever going to be friendly towards anything that involves internet.

With that crazy president they have, they'll never have freedom, i feel sorry for people living in north korea


as @1Referee said: "China's "exit" has been the best thing that could happen to Bitcoin in years"

I agree

[RomanJDS]

...And no, I don't see North Korea ever going to be friendly towards anything that involves internet.

With that crazy president they have, they'll never have freedom, i feel sorry for people living in north korea


as @1Referee said: "China's "exit" has been the best thing that could happen to Bitcoin in years"

I agree

When I was a child i was happy without Internet and Bitcoins . I think happiness doesn't depend on technology. But North Korea must use decentralized financial system to avoid sanctions.

[VadikZimnyayaRezina]

...And no, I don't see North Korea ever going to be friendly towards anything that involves internet.

With that crazy president they have, they'll never have freedom, i feel sorry for people living in north korea


as @1Referee said: "China's "exit" has been the best thing that could happen to Bitcoin in years"

I agree

When I was a child i was happy without Internet and Bitcoins . I think happiness doesn't depend on technology. But North Korea must use decentralized financial system to avoid sanctions.

I think that the North Korean government will never agree to this. The use of bitcoin will lead to the fact that the government can not control the economy. And lose power over people. And this is unacceptable for the government