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Demand for cryptocurrency in Asia just got less mysterious - #CryptoTrading

It might be inventing random reasons, but there is some general truth in people searching for uncorrelated assets.
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  .  Published  · By KarlVonBahnhof

North Korea has fired a missile that flew over northern Japan before crashing into the sea, the Japanese government says.

BBC News

North Korea has launched a ballistic missile that overflew Japan, an aggressive step the country has not taken in almost 20 years and which will undermine protracted US efforts to bring the nuclear aspirant to the negotiating table.

FT

As soon as the news was out, BTCUSD shot up, gold got what the cryptocurrency traders would call a green dildo, and USDJPY got what cryptocurrency traders call rekt.

As someone on Reddit noted, To me this makes Bitcoin’s sudden popularity in South Korea and Japan much less mysterious. I really didn’t understand it before.

It’s of course not only Bitcoin: There was a whole ETH frenzy at one point and more recently, South Korean exchange Bithumb listed XMR just the other day which coincided with its massive bull run.

About the author

Written by KarlVonBahnhof

KarlVonBahnhof also on Reddit, Chris belongs to the crypto trader class of 2013. Located in the Americas most of the time, you're most likely to meet at r/BitcoinMarkets though.

 

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