Bitcoin prices are getting more expensive in South Korea than overseas. The Kimchi Premium reemerged after more than one year.
The Bitcoin price was traded at $5,300 Monday, $100 more expensive or 1.6 percent higher than the price quoted overseas, according to the Upbit Exchange.
In 2017, the Kimchi Premium was as high as 30 percent. Last year, the Kimchi Discount prevailed, as Bitcoin price was lower in South Korea than in foreign markets.
The reemergence of the Kimchi Premium indicates that frozen investor sentiment has been recovered
Bitcoin was the most-searched word in the nation’s largest portal site Naver sometime on April 1.