{"id":566339,"date":"2021-04-04T13:38:49","date_gmt":"2021-04-04T10:38:49","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=566339"},"modified":"2021-04-04T16:58:49","modified_gmt":"2021-04-04T13:58:49","slug":"bitcoin-btc-korea-premium-index-hits-a-one-year-high-of-11-97","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-korea-premium-index-hits-a-one-year-high-of-11-97\/","title":{"rendered":"Bitcoin (BTC) Korea Premium Index Hits a One-Year High of 11.97%"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>The Bitcoin Korea Premium Index has just hit a one-year high of 11.97$%<\/strong><\/li>\n<li><strong>Also known as Kimchi Premium, it tracks Bitcoin&#8217;s value on S. Korean exchanges relative to others<\/strong><\/li>\n<li><strong>The index is known to sometimes foreshadow a major Bitcoin price move<\/strong><\/li>\n<li><strong>Bitcoin conquering $60k will open the doors to $64k and beyond<\/strong><\/li>\n<\/ul>\n<p>The <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-bitcoin-btc-news\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Bitcoin (BTC)<\/a> Korea Premium Index has just hit a one-year high of 11.97%. This is according to data by the team at CryptoQuant.com shared through the following tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$BTC<\/a> Korea premium index hit a year high. <a href=\"https:\/\/t.co\/2tFjIu9S2r\" rel=\"nofollow\">pic.twitter.com\/2tFjIu9S2r<\/a><\/p>\n<p>&mdash; CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/1378584161980608513?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">April 4, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>What Exactly is the Bitcoin Korea Premium Index?<\/h2>\n<p>Also known as the &#8216;Kimchi Index&#8217;, the Bitcoin Korea Premium tracks the price of BTC on South Korean exchanges relative to other global exchanges in Europe and the United States. The term &#8216;Kimchi&#8217; is in reference to the popular South Korean dish of fermented cabbage.<\/p>\n<p>When it has a positive value, it means that Bitcoin is trading at a higher price on the South Korean exchanges compared to other crypto exchanges. A positive value is also used to gauge the bullishness of traders and in this case, a high premium could be indicative of a major move by Bitcoin to levels <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-has-an-18-5-chance-of-hitting-100k-by-end-of-year\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">above $60k<\/a>.<\/p>\n<h2>Bitcoin Conquering $60k Will Open the Doors to $64k and Beyond<\/h2>\n<p>At the time of writing, Bitcoin is trading at $57,600 after a brief dip to $56,500 earlier today. This is after Bitcoin posted <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-closes-6th-straight-green-month-trading-30-days-above-50k\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">a local high of $60,200<\/a> on Friday thus providing more reason <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-sets-its-eyes-on-62k-as-paypal-increases-crypto-adoption\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">to be bullish on Bitcoin<\/a> with the new month of April and the beginning of Q2 2021.<\/p>\n<p>If the King of Crypto can succeed in conquering the $60k price area as support, it would open the doors to higher levels <a href=\"https:\/\/crypterium.com\/news\/post\/crypto-daily-bitcoin-grew-to-60-000-again\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">as explained below<\/a> by the team at Crypterium Analytics.<\/p>\n<blockquote><p>It is possible that the [Bitcoin] chart could go up to $64,000. If during this growth, it turns out to collect stop-losses of the shortists, then the price can fly up to $66,000 \u2014 $67,000.<\/p>\n<p>It should also be noted that March was positive for Bitcoin. During this period, its price increased from $45,000 to $58,000, which is 30% per month. This is 6 months of growth in a row. Bitcoin had similar a result only once in history \u2014 in 2012-2013. Then, after rapid growth, the price fell by 33%. We know that history repeats itself, so we advise you to trade Bitcoin very carefully now.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: The Bitcoin Korea Premium Index has just hit a one-year high of 11.97$% Also known as Kimchi Premium, it tracks Bitcoin&#8217;s value on S. Korean exchanges relative to others The index is known to sometimes foreshadow a major Bitcoin price move Bitcoin conquering $60k will open the doors to $64k and beyond The Bitcoin (BTC) Korea Premium Index has just hit a one-year high of 11.97%. This is according to data by the team at CryptoQuant.com shared through [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":565690,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[1233,6961,108098],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566339"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=566339"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566339\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/565690"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=566339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=566339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=566339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}