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What is the ‘Kimchi Premium’ and why is it a ‘top’ indicator for Bitcoin? What is the ‘Kimchi Premium’ and why is it a ‘top’ indicator for Bitcoin?

What is the ‘Kimchi Premium’ and why is it a ‘top’ indicator for Bitcoin?

Korea’s frenzied traders are bidding up prices of Bitcoin and other cryptocurrencies in the country. But why?

What is the ‘Kimchi Premium’ and why is it a ‘top’ indicator for Bitcoin?

Cover art/illustration via CryptoSlate

Bitcoin is trading at nearly $66,000 in South Korea.

This is not a typo nor a faulty API giving false data either, but a notorious market anomaly from 2017-18 that marked the ‘top’ of the crypto market at the time.

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