CandleFocus Bitcoin's South Korea Discount Hits Highest Since October 2023
2024-09-25
Author: Content Editor
Bitcoin is currently trading at a steep discount on Korean exchanges, reaching its lowest point since October 2023. This is likely due to a shift in trading activity towards alternative cryptocurrencies (altcoins). Traders in South Korea have been moving away from bitcoin and towards high-beta altcoins, following optimistic predictions from analysts after the recent U.S. interest-rate cut. This trend is not limited to Korean exchanges, as traders elsewhere are also focusing on altcoins in anticipation of further rate cuts by the Federal Reserve in the future. These traders are taking advantage of the opportunity to accumulate undervalued altcoins, expecting a strong rally in the fourth quarter.
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