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Bitcoin Price Growth Predictions in South Korea
A South Korean crypto analyst has predicted that Bitcoin price growth could continue, as the nation experiences a “crypto fever” trend. Industry experts in South Korea believe that Bitcoin prices are expected to keep rising, although a short-term price adjustment is also anticipated.
Expert Insights on Bitcoin Price Trends
- CEO of CryptoQuant, Ju Ki-young, mentioned that the market is currently at around 50 in terms of overheating, on a scale of 100.
- Despite the positive outlook, retail investors are proceeding cautiously due to past market experiences.
The Kimchi Premium Phenomenon
The kimchi premium, a unique trend in South Korea, indicates higher demand than supply in the crypto market, leading to price discrepancies compared to international platforms.
Current Kimchi Premium Rates
As of March 13, the kimchi premium for Bitcoin and altcoins like XRP is around 8%, showing a slight decrease from previous levels.
Future Bitcoin Price Growth Expectations
Despite uncertainties, analysts suggest that Bitcoin price growth could reach the $114,000 mark in the ongoing bull market, with potential for further increases.
Social Media Reactions in South Korea
A viral social media post by comedian Kim Kyung-jin reflects the sentiments of retail investors, questioning the rapid rise in Bitcoin prices and expressing regret for not investing earlier.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
