I see so many artcles on the web regarding the Kimchi Premium but gosh give me a break! Korean investors are not that stupid to purchase something at 40% premium when they can get something at a more reasonable price abroad. This premium phenomenon was temporary. Regulators and government trying to crack down on speculative trading is nonsense. The exchange has been around years before and there has always been the fx restrictions. Regulation made it somewhat difficult to take foreign currency abroad so that was why prior to all the media there was ONLY 4 to 5% premium. My assumption is as follows:
- If Crypto mivement is untraceable and as we all know this has the risk of being used for money laundering. If this is the case can we assume that the a government was involved in funding North Korea to ease the tension on the Korean Peninsula? Pay then to participate in the Winter Olympics? History has proved that the right and left governments has paid off North Korea multiple times.
UN sanctions and beneath the table talks started and we can witness the sudden spike in orice movement.
- Order from above and those executing the orders do not look at global prices. They just have to meet the deadline. The ones executing does not know crypto. Say they were to pay 1000 dollars and they buy without looking at what they are doing and crunched to deadline. They bid up the market. We have ordinary investors buying thinking there is something without looking at the permium. Report is made that they have only been able to buy 700 not the 1000. And no way to buy given that market is bid up. So regulators without knowing what they can do provide random lip service to reduce the premium. As the exchanges revolt they name individual from FSS having traded crypto and things go haywire as government thought that there records were safe. But no long are they free from being un noticed. So they crack down on the exchanges in efforts to delete their record.
- New Year comes payment is made things look fine and Missile Boy needs to cash out so we see a major corrdction i. Crypto. Of course there were news if the block chain technology. But can it cause a coi to gain in value at such a rate? What other methods are available around the sanctions?
Woukd be interesting to see if anyone agrees with my assumption
