In South Korea, the Crypto Currency Boom Hits Economy system.

[EditorK]

In Korea, ordinary people, with no prior experience in cryptocurrencies, have been lured into the cryptocurrency markets in recent weeks by the soaring prices of Bitcoin and its competitors.

Nowhere has the public frenzy been more feverish than in South Korea. It was on South Korean exchanges that the price of Bitcoin first hit $10,000 last Monday, hours before traders in the United States reached the same level of exuberance.

Even cryptocurrency enthusiasts in South Korea are concerned about the sudden rush into Bitcoin and Ether.

They say investors are often getting in with little grasp of how cryptocurrencies work, like the decentralized network where all the transaction records are kept, or why they may be valuable over the long term.

Korean investors say they know they might lose money, but they are holding out hope.

[localcrypto]

after Japan south Korea cryptocurrency is widely used in exchange trading mining new ico coins and as well as merchant services they are on regulator control

[kolinko]

Recently, Korea is implementing legislation to allow ICO projects to resume operations in Korea. This shows that South Korea wants to recognize and support the development of cryptocurrency in the near future, which is a good sign for the cryptocurrency market and investors around the world because Korea is a nation very strong crypto.

[erickkyut]

Good job for the Koreans. They know how to go with the flow of technology. They are like Japanese which first adapted Bitcoin here in Asia. I'm happy now that our, Philippines is also open on this kind of changes. It is a good thing that Bitcoin is now being widely accepted not just in the western countries but also here in Asia.

[Hydrogen]

This offers an alternative explanation to the idea of investors waiting to buy in post april 17th which marked the end of the US tax season. Growing demand in asia could easily extend gains to bitcoins price cap. High demand and a quickly growing userbase as experienced by bitcoin were a few of the key arguments against bitcoin being a bubble.

Polls in 2017 claimed 2% of americans had used some form of crypto currency which amounts to around 6 million people. If the USA is any indication of global crypto support, there could be plenty of room for growth. Of course, we all know growth fuels demand and demand in turn fuels capital appreciation and price increases. Greater support and a larger end user base could definitely offset any claims of crypto currencies being overpriced bubbles. For the short term anyway. Perhaps someday in the future bitcoin's price could increase disproportionately to its fundamental metrics and it could become a bubble. Today it probably isn't a bubble, however.

[kache2018]

This is a good news knowing that using bitcoin can certainly uplift a country's economy. Bitcoin investment can certainly contribute to every nations success and development.

[9jaflick]

This is common, must times people take advantage of an opportunity before leaning the possibilities that govern it. in most cases, when we chose to learn the possibilities before the opportunity we end up being left behind.
I don't think the South Korea investors have anything to lose, they are just trying to be ahead up the game by acting smart, to some, their decision may look silly, but to them, they know what they are doing.

[hadveach]

yes, not just in korea and the united states, but in every country that legalizes bitcoin, the bitcoin price will increase rapidly, even its growth will increase rapidly if the country has many enthusiastic investors to bitcoin.
I think, every investor who keeps their assets in bitcoin certainly has a strategy. impossible if they only invest without having an investment strategy.

[zbaharudin]

yes of course they trade it because they understand concept of crypto trading so they dare to make a trade with a speculative system, and of course it brings good impact to increase of bitcoin and other crypto prices.

[dimastegar]

Korea does have great Enthusiasm towards crypto. With the current Bitcoin prices, they are definitely interested and try to invest. And I like their confidence to invest crypto. Good step.

[Slow death]

they are implementing measures to ensure that people who use exchange are not stolen and thieves be arrested, and that is a very good thing as it protects people from being robbed, although they are not all people in korea know about bitcoin yet they already contribute a lot to growth of bitcoin, according to what I read more than 20% of Koreans know about bitcoin, imagine the day they are 100%, then we will have more demand

Good job for the Koreans. They know how to go with the flow of technology. They are like Japanese which first adapted Bitcoin here in Asia. I'm happy now that our, Philippines is also open on this kind of changes. It is a good thing that Bitcoin is now being widely accepted not just in the western countries but also here in Asia.

it seems that the Asian continent with the exception of china use much bitcoin.

[pitiflin]

Dude these are Koreans. They are fucking talented and they know their shit. It is in their blood, and they never screw up. South Korea has been giving birth to a lot of whales in the crypto markets, now that stock has been well, outdated.

it seems that the Asian continent with the exception of china use much bitcoin.

People still use bitcoin in China though.

[sate_padang]

Currently bitcoin is on the rise and I think in investing in bitcoin we should not be afraid to lose because we will not lose our money if we can be patient.

[pooya87]

this is not new!
this started last year in Korea like any other country and people have been buying a lot of bitcoin ever since. there have been times when bitcoin price reaches a much higher price than the rest of the market because of that surge of demand. similar cases are India, Venezuela and a couple of other African countries.

[millgates]

this is not new!
this started last year in Korea like any other country and people have been buying a lot of bitcoin ever since. there have been times when bitcoin price reaches a much higher price than the rest of the market because of that surge of demand. similar cases are India, Venezuela and a couple of other African countries.

Japan also interested to bitcoin as well. Asian markets are look positive to bitcoin now. The most possible reason why Korean people are interested to bitcoin is because the grow of war in north korea.

[pooya87]

this is not new!
this started last year in Korea like any other country and people have been buying a lot of bitcoin ever since. there have been times when bitcoin price reaches a much higher price than the rest of the market because of that surge of demand. similar cases are India, Venezuela and a couple of other African countries.

Japan also interested to bitcoin as well. Asian markets are look positive to bitcoin now. The most possible reason why Korean people are interested to bitcoin is because the grow of war in north korea.

i know about Japan, of course the "interest in bitcoin" exists in a lot of countries. but in most of them (like Japan) the market is big enough to answer that demand and for price to stay at the same level with the rest of the world. or if it couldn't people can always use foreign exchanges and bring that balance with arbitrage.

i was talking about the surge in demand which increased the price. for example when price was $800-$900 in USD markets, it went above $1200 in Indian markets. the market was small and arbitrage was impossible.

[Caelanpelley]

E-currency transactions in Korea increased sharply. Compared to the extremely active time of the Korean electronic money market with a total transaction value of 700 billion won (648 million US dollars), an increase of 80% over the previous year. From the second half of 2017, electronic money has become an increasingly attractive investment channel in Korea, especially for housewives and students.

[aryaadikariyansyahsuwarto]

it can have a good impact, with the incident that maybe bitcoin prices will continue to rise .. and all investors will profit if it continues like this .. !!

[Happydd]

The demand for electronic money in Korea is so strong that their prices in the country are twice as high as in the United States. Although this gap has been shortened, Korean policymakers are still worried. As a leading country in the world of electronic money, Korea's moves have always attracted the attention of traders around the globe.

[Xester]

In Korea, ordinary people, with no prior experience in cryptocurrencies, have been lured into the cryptocurrency markets in recent weeks by the soaring prices of Bitcoin and its competitors.

Nowhere has the public frenzy been more feverish than in South Korea. It was on South Korean exchanges that the price of Bitcoin first hit $10,000 last Monday, hours before traders in the United States reached the same level of exuberance.

Even cryptocurrency enthusiasts in South Korea are concerned about the sudden rush into Bitcoin and Ether.

They say investors are often getting in with little grasp of how cryptocurrencies work, like the decentralized network where all the transaction records are kept, or why they may be valuable over the long term.

Korean investors say they know they might lose money, but they are holding out hope.

If there is a panic or rush buying of bitcoins in South Korea then those who bought bitcoins will not going to lose a profit but have entered on a good time and will have a good chance of earning this december. The spark on South Korea will cause a domino effect on the rest of the world so this means that in the coming days we will be expecting another exponential increase in bitcoins value.