Untethered Angel

A bit of volatility comes back into the crypto market and everything goes haywire again.

The market that was so tightly knit for an entire year has now begun to break apart again amid the frenzy of buying and selling on different platforms around the world.

Yes, that's right. I'm talking about the Kimchi Premium, which has opened up again. Here we can see that the price of bitcoin on the South Korean exchange Bithumb is approximately 7.6% higher than it is in the rest of the world.

Some of you might remember the Kimchi and Sushi premiums, which saw the price of bitcoin as much as 30% higher in South Korea and Japan throughout the second half of 2017 due to the overwhelming demand in these regions.

Throughout most of the crypto winter and spring, most global exchanges remained within a very tight range of about $100 or less from the others as arbitrage traders picked up the extras. Well, not anymore.

Welcome to crypto summer!

Traditional Markets

World leaders are now gathered in Osaka Japan...

We've been talking a lot about the Trump-Xi meeting tomorrow morning but leaders will also make an effort to bring some calm to the situation in the Middle East, which has been fairly explosive lately.

At the moment, most markets are calm with anticipation but we might see a bout of speculation towards the end of the trading day.

It's interesting to note that Asian markets are slightly down, European indices are flat, but US Futures are up. This could be in part because...

Out of 18 banks tested, only Credit Suisse was called out for not being adequately prepared for an economic downturn. Of course, some commentators feel that this is more a statement about the test itself than the economic situation.

Tether Manipulation?

For all the people who've been telling me lately that Tether Manipulation has been in some way responsible for the bitcoin's performance this year, I felt it prudent to at least give it a fair look.

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Please note: All data, figures & graphs are valid as of June 28th. All trading carries risk. Only risk capital you can afford to lose.

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Adam Reynolds 1 year ago Member's comment

Why is #bitcoin in such higher demand in South Korea and Japan than in the rest of the world. Can't they buy it anywhere on the net? Why pay a premium?