Why increased Bitcoin? The response from South Korea
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Rebound of Bitcoin above $ 7,000 coincided with the return to the market of the largest South Korean exchange Bithumb. Recall Bithumb worked in a restricted mode after the July . About it writes .
thewhat drives Bitcoin
This week the main cryptocurrency has overcome another resistance level and headed above $ 7,000. Analysts attribute the recent price movement with the resumption of Bithumb. BKCM CEO Brian Kelly said the increase in the number of Asian buyers.
Now the bulls come from Asia. The most important news of the day — the long-awaited return of investors from South Korea.
After some time after hacking the trading volume on Bithumb almost three times. By Tuesday the number of commercial transactions has grown and now has 362 million dollars in the last 24 hours.
South Korea remains the fourth largest market for Bitcoin. Local investors are not afraid even from the financial regulators and the position of banks in the country.
Another catalyst for the growth of Bitcoin prices was the approval of the new Fund from Morgan Creek and Bitwise Digital Asset Management. Digital Asset Index Fund will be invested in maintenance of large investors. The minimum investment threshold is raised to $ 50,000.
The relative price of cryptocurrencies is due to the gradual development of the stock market. Some experts believe that the new bullrun we do not really need . Even some members of the SEC policies of the financial regulator.
And here BitBull Capital CEO Joe Di Pasquale says that the announcement of the Fund from Morgan Creek Digital was not the main reason for the recent growth. A much more important role gradual increase in the demand for money, which resulted in increased interest from investors.
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