Bitcoin ‘Kimchi Premium’ Makes a Comeback As Euphoria Builds

South Koreans have also started to join in on the crypto rally.

Another sign of Bitcoin euphoria can be seen in the “kimchi premium” that has returned.

The positive price gap between South Korean cryptocurrency exchanges and other exchanges is the Kimchi premium which has hit two-year highs amidst the ongoing price rally.

This premium first made its presence known in December around the time Bitcoin breached its 2017 peak of $20,000. At one point this premium was above 6% in January this year.

As of writing, Bitcoin price BTC 4.05% Bitcoin / USD BTCUSD $ 35,315.36
$1,430.27 4.05%
Volume 68.8 b Change $1,430.27 Open $35,315.36 Circulating 18.59 m Market Cap 656.61 b
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is trading at $34,670 on Bitfinex, $34,685 on Coinbase, $35,621 on Upbit, $35,595 on Bithumb, and $34,834 on Binance, as per Coinmarketcap.

The last time such a difference in prices was seen was in early 2018.

“‘Player 2 has entered the game,” said Ari Paul CIO at Blocktower Capital. “The long-running trend of Asia hours being bearish may be broken as South Korea seems to have finally caught a major bid yesterday and continuing into tonight,” he added.

Korean exchanges are also seeing massive deposits. On Tuesday, 3,001 BTC worth more than $99 million was moved to Bithumb, as per data source CryptoQuant. Just this week, Bithumb Global also opened the BTC market for their KRW only market.

These premiums appear for a number of reasons which include the availability of crypto service providers, regulatory environment, fiat currency conversion ease, and economic situation.

As Bitcoin price rallies, people are getting back into crypto which can also be seen in Bitcoin trending on South Korea’s biggest search engine Naver, which happened the day the digital asset ripped past $30k. The volume on these exchanges has also started to trend up moving into 2021.

Just this week, Naver published an article about Bitcoin, gold, and real estate skyrocketing, noting how BTC surpassed 30 million won at the end of last year.

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Author: AnTy

Ethereum (ETH) Price Analysis (April 22)

• The cryptocurrency is now showing a few bullish sign above the support level.
• Ethereum looks tasty for bulls in the short-term.

ETH/USD Medium-term Trend: Bullish

• Resistance levels : $240, $250, $260
• Support levels: $85, $75, $65


ETHUSD looks bullish in its medium-term perspective. The formation of the doji candle at $170.51 in the resistance area during yesterday’s session returns the bulls within the range.
Today’s daily candle opens on a bullish note at $170.79 in the resistance area.

Price is initially up at $184.24 in the resistance above $89.66 support level.

Ethereum now trades above the two EMAs at the time of writing this article which indicates that price is in an uptrend.

However, the stochastic signal pointing down at around level 66% in the overbought region suggests that the momentum in the price of Ethereum is in a downtrend and may likely continue in the same direction in the days ahead in the medium-term.

ETH/USD Short-term Trend: Bullish


The coin is in a bullish trend zone in its short-term outlook. A bullish spinning top hammer at 170.79 opens today’s 4-hourly candle in the resistance area.

With the price initially up at $183.40 well above the two EMAs and the stochastic signal up at around level 74% in the overbought region, suggests an upward momentum in price of the coin in the short-term perspective.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Author: Ben Jordan

Money Is At Risk In Banks, Bitcoin Is Probably The Most Secure Currency Right Now: Tim Draper

  • “If we’re able to hold above $7,800, it will be a very good sign,” – Mati Greenspan
  • Venture Capitalist advises millennial’s to start building their empire by investing in bitcoin that doesn’t cost them 2.5 to 4% every time they swap their credit card
  • Unchained Capital’s Parker Lewis says bitcoin obsoletes all other money because it is “the most credible monetary properties”

Bitcoin price has come down to $8,300 level from last week’s $9,200 level. Despite bouncing off the support yesterday, it was unable to reclaim the level and made its way back toward support.

We have come to some serious resistance at the 200-day moving average, a line that Mati Greenspan, founder of Quantum Economics says played a “significant role in bitcoin’s graph over the last few years.”

According to Greenspan, “if we’re able to hold above $7,800, it will be a very good sign.”

The fact that Chinese New Year, it is possible we could finally move even lower. Currently, BTC/USD is trading at 8,314 with 24 hours loss of 1.28% while managing the daily trading volume of $631 million, as per Messari.

Tim Draper Advises Millennial’s to Invest in Bitcoin

Bitcoin price might be looking uncertain right now but billionaire Tim Draper who has predicted BTC price at $250,000 by 2022, and even called it a conservative number last year, is advising millennials to put their money in Bitcoin.

The venture capitalist said that the financial system is not working anymore for millennials which have made them more renters than buyers. Draper said:

“Things aren’t quite working for millennials. They owe a lot, and with the current salaries, they can’t pay it off. It’s a challenging moment for them, and they’ve become renters rather than buyers because they have to.”

He reiterated his views that Bitcoin is an alternative to banks and would save the investors from them. Draper is advising millennials to

“start building their empire by investing in a model that doesn’t cost them 2.5 to 4% every time they swap their credit card.”

“My money is at risk in banks. They’re hacked all the time. Bitcoin is probably the most secure of currencies right now,” Draper told FOX Business.

Bitcoin has the most credible monetary properties

Parker Lewis, an author at Unchained Capital, a Bitcoin native financial services company also feels that “Bitcoin Obsoletes All Other Money.”

In his write-up, he explains how it sounds crazy to believe that Bitcoin, a $150 billion purchasing power which is a drop in the bucket compared to $250 trillion of debt market and $8 trillion purchasing power of gold will be the dominant global currency. But he argues,

“all fiat systems is nothing more than the manifestation of gold’s failure as a monetary medium.”

And after abandoning the gold standard in 1971, the modern fiat system has only managed to survive as long they have because a solution to the problem that fiat itself created did not exist yet.

But Bitcoin he said is that solution.

Bitcoin is global and permissionless in which the more the trading partners, the greater the value each BTC provides to those holding the currency.

“New adopters of a monetary network both contribute value and realize value as a function of adoption, which is why it is not possible to be late to bitcoin, nor will bitcoin ever be too expensive.”

Bitcoin’s 21 million hard cap means no other currency can ever be as scarce as the leading digital currency and scarcity drives adoption and community of value.

Bitcoin he said “is an equal opportunity mind-bender” which obsoletes all other money because “economic systems converge on a single currency, and bitcoin has the most credible monetary properties.”

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Author: AnTy

Bitcoin Supply of Huobi & BitMEX Shot Up While Poloniex Crashed

  • The supply distribution for exchanges has become “significantly more distributed,” is a “positive sign for the health of the overall market”
  • Poloneix’s BTC supply dropped to its lowest levels since Jan. 2016

In 2018 Bitcoin price went through a brutal winter, losing 84% of its value. In the second half of 2019 as well, BTC went from $13,900 to $6,400. But despite the ups and downs in the price, the total amount of BTC held on the nine exchanges surged over the last five years.

While Gemini and Bittrex saw a large increase in early 2018 only to level off, Binance continued to grow after 2018. Bitstamp saw a sudden dip in their supply due to moving their cold storage back and forth between Xapo.

Poloniex BTC Supplies Dropped to Lowest Levels since Jan. 2016

The biggest hit was taken by Tron founder Justin Sun who invested Poloniex. Launched in 2014, Poloniex thrived in the unregulated market becoming one of the largest exchanges in the world. But coming to the end of the 2017 bull market, it suffered from scaling and support issues.

After acquired by Circle in February 2018, in less than two years, the company announced they were spinning out Poloniex. Things continued to get worse for the exchange as one month after that in Nov. 2019, it ended support for US customers. All of this sent Poloniex on-chain supplies to their lowest levels since Jan. 2016.

2019 Recorded a Surge in Exchanges’ BTC Supply

Crypto derivatives exchange BitMEX that offers leveraged trading of up to 100x has been only growing steadily over the last few years. Founded in 2014 as well, the Seychelles-registered platform increased its BTC supply during the 2018 bear market.

Despite being under investigation by the US CFTC, its “insurance fund” of BTC grew by more than 63% in 2019.

The exchange that emerged as the winner is Huobi which had moderate success over its first five years of operations. It was during the second half of 2019 that the exchange saw a large increase in both BTC and ETH supply.

Huobi was also the platform that received large quantities of BTC and ETH from China-based Ponzi scheme $3 billion PlusToken scam.

During the last five years, supply distribution for exchanges has become “significantly more distributed, which is a positive sign for the health of the overall market.”

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Author: AnTy

Altcoins Forging Fresh Highs While Bitcoin Remains Stagnant

  • A “very positive sign” that market is consolidating the gains but hasn’t retreated much
  • But “less volatility, less action, equals less excitement and less trades”
  • Altcoin index “bullish AF,” while larger-cap cryptos outperforming, smaller caps are flat

The crypto market is experiencing a green wave. Bitcoin might be in the red, hovering around $8,600 but is up just over 18% to date in 2020.

The crypto market is currently testing the highs to see as Mati Greenspan, founder of Quantum Economics in his daily newsletter explains “if this rally has enough steam to breakthrough into something bigger.”

Though the market has started to see some flecks of red, the fact that we are still consolidating the gains made last week and hasn’t retreated by much is a “very positive sign,” said Greenspan.

However, what can’t be ignored is the declining volume. Last week, Bitcoin managed the daily trading volume of over $1 billion which has now dragged down to less than $500 million on top ten exchanges with real volume.

So, while sentiment remains good exchange volumes are trailing off with “less volatility, less action, equals less excitement and less trades.”

But Greenspan notes that “while bitcoin remains stagnant, we have seen a few altcoins cautiously forging fresh highs.”

As can be seen, while Bitcoin stayed still over the weekend, altcoins like Tezos, Cardano, and Stellar Lumens made slow but steady gains.

As Greenspan questions aloud, “Is this the start of another altseason?”

Alt-Season or Not Yet?

There are still 10 days let in the first month of 2020 but altcoins are the ones leading the market.

Among the top 10 cryptocurrencies, Bitcoin SV (BSV) is at the top with 232% gains YTD that reached a new all-time high. BSV is followed by the cryptocurrency from which it was hard forked, Bitcoin Cash. BCH is up 64% in 2020 to date trading at $340.51, a bit higher than BSV’s current value of $314.60.

Other big gainers have been Dash which is up by 160.35%, Bitcoin Diamond (BCD) 114%, Bitcoin Gold (BTG) 107.7%, Ethereum Classic (ETC) by 96.62%, Zcash (ZEC) 86.67%, DigixDAO (DGD) 81.88%, Civic (CVC) 68%, Horizen (ZEN) 60%, and Augur (REP) 50.31%.

Analyst Benjamin Blunts notes, the altcoin index is “bullish AF.”

Analyst Ceteris Peribus notes 40 of the altcoins with market capitalization more than $50 million, excluding stablecoins, are up 25% on an average. In comparison, 29 altcoins are down on an average of 14%.

While larger-cap cryptocurrencies are outperforming, smaller caps are flat or underperforming. This is why the analyst is “Not close to saying alts are back yet.”

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Author: AnTy

Barry Silbert of Digital Currency Group Believes Bitcoin’s Bear Market Winter Is Ending

Barry-Silbert-of-Digital-Currency-Group-Believes-Bitcoins-Bear-Market-Winter-Is-Ending
  • Barry Silbert believes that the surge in crypto asset prices is a sign that the winter is ending.
  • Tone Vays contradictorily believes that the surge is due to inside capital and that the crypto winter will continue.

As the cryptocurrency market has evolved, it has already gone through some bearish and bullish trends. For 2018, the bear market took over, creating a “crypto winter,” but there are many people who say that the recent rallies of Bitcoin are an indication that the crypto winter is ending, like Barry Silbert. Silbert, the founder and CEO of Digital Currency Group, recently spoke with Bloomberg Technology of June 11th, expressing the cyclical nature of Bitcoin.

Explaining, Silbert told Bloomberg Technology that Bitcoin naturally experiences ups and downs in a pattern, which he believes is an indication that the crypto prices are meant to continue rising. The crypto investor discussed how the price dynamics of Bitcoin have been, in recent years, “quite a roller coaster,” considering that the price has taken an 80% to plummet four times in the last eight years, though it has reached all-time highs as well.

Considering these details, along with the surge in the market in 2019 so far, Silbert said that the current market “looks like, perhaps, we are coming out of a crypto winter and we’ve entered a crypto spring.” The executive added that there is a recent increase of institutions in the market, which shows that Bitcoin has come a long way since the bull market of 2017 after nearly reaching $20,000. Bringing attention to initiatives from traditional institutions, like Fidelity’s Bitcoin custody offering, Silbert explained that the contrast since 2017 is “really night and day.”

Earlier in 2019, Silbert said that he believes that the majority of digital tokens won’t be holding onto their value over time. He added that nearly every initial coin offering (ICO) that has been launched was

“just an attempt to raise money but there way no use for the underlying token.”

Tone Vays, a current researcher on blockchain and a former executive with JPMorgan, recently made comments that appeal skeptical that the crypto winter is over. In a stark contrast to Silbert’s opinion, Vays believes that internal capital was the primary support for the recent surge in crypto prices, which is not as confidence-inducing as the idea that external money is coming in.

According to recent data from CoinMarketCap, Bitcoin is presently priced at $8,161.73, rising by 3.72% in the last 24 hours. Most altcoins in the top 100 cryptocurrencies have seen gains in the same timeframe.

All of Today’s Bitcoin Price Analysis, Chart Forecasts and Industry News

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Author: Krystle M

Azerbaijan Government Inks a Deal with IBM to Use Blockchain Technology for Customs Processes

Azerbaijan-Government-Inks-a-Deal-with-IBM-to-Use-Blockchain-Technology-for-Customs-Processes

Azerbaijan’s State Customs Committee and IBM are set to sign a new agreement that will see blockchain technology being used in customs processes. The new deal signifies the developing cordial relationship between IBM and Azerbaijan government.

In October last year, Azerbaijan’s central bank inked an agreement with IBM which will effectively mean the bank can use blockchain technology in different areas for a period of five years. The new says that IBM will deploy its blockchain technology targeting cargo transportation.

The deal was made public by State Customs Committee chair, Safar Mehdiyev, during a press meet that was held to update the country about the ongoing IT/TI Conference and Exhibition of the World Customs Organization (WCO) that is being held in Baku, Azerbaijan.

Mehdiyev told the reporters that IBM blockchain technologies will be used to manage cargo transportation in the country and will be implemented before the end of the year. He explained that blockchain technology will permit sending of information about container shipments to the database. He explained:

“It will be possible to obtain the necessary information from the database online, without outside interference,” Mehdiyev stressed. “It will be useful for both entrepreneurs and customs authorities, as it will improve the quality of customs services provided.”

Blockchain For Seamless Custom Procedures

Majority of governments across the world are acknowledging the advantages of blockchain technology in customs processes. One of the governments implementing blockchain technology in its customs is the US which unveiled a trial scheme that is custom built on blockchain technology in August 2018.

Meanwhile, Azerbaijan looks forward in advancing blockchain technology outside its borders with an immediate target on its neighbors. Mehdiyev added that his committee was working on agreements to boost bilateral cooperation that will allow the use of the technology with different countries. The chair said that Moldova, Ukraine, and Georgia are under consideration presently.

“In this direction, we are implementing a project with Ukraine with the support of Georgia and Moldova,”

Cointelegraph quotes the chair.

Azerbaijan is proving to be friendly to blockchain based technologies with key government departments embracing the technology. Notably, Justice Ministry of Azerbaijan has also conveyed its interest in using distributed ledger technology to carrying out its day-to-day proceedings. It will be interesting to see whether other key governmental departments will embrace the technology in efforts to offer seamless services to the public.

Do you think adoption of blockchain technology by government agencies will improve service delivery? Share your views with us in the comments section.

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Author: Joseph Kibe