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Apr 9, 2021 15:36 GMTCrypto News
Bitcoin adoption takes off as institutions continue to jump on the digital currency bandwagon.
PayPal co-founder Peter Thiel labels BTC as China’s “Financial Weapon” against the U.S. dollar.
Bitcoin price could be due for a massive move as key on-chain metrics reset and others turn bullish.
Bitcoin’s mainstream adoption has soared over the last couple of months, with institutions like Visa, Goldman Sachs, Morgan Stanley, and others dipping their toes in the BTC markets. Likewise, prices look primed to advance further despite the ongoing consolidation phase.
Eastern markets in the spotlight
The “kimchi premium” refers to the difference between the BTC/KRW and the BTC/USD trading pairs. Different factors like domestic capital controls, limitations of Korean exchanges, and retail demand tend to affect the price of Bitcoin against the South Korean won relative to other fiat currencies.