NYT: Virtual Currency Frenzy Most Feverish in S. Korea

Write : 2017-12-05 16:44:36 Update : 2017-12-05 17:00:40

NYT: Virtual Currency Frenzy Most Feverish in S. Korea

The New York Times say that nowhere has the public frenzy over virtual currencies been more feverish than in South Korea.
In an article titled, "In South Korea, the Virtual Currency Boom Hits Home," the Times said the boom is affecting Koreans of all ages from teenagers to retirees in their 70s.
It said that it was on South Korean exchanges that the price of Bitcoin first hit ten-thousand dollars on Monday last week, hours before traders in the U.S. reached the same level of exuberance.
The Times said that also last week, trading between the Korean currency, the won, and Ether, the most valuable Bitcoin competitor, was nearly as active as trading between the dollar and Ether — despite the fact that Korea’s population is one-sixth that of the United States. 
The report said these volumes are all the more remarkable because just a year ago virtual currency markets barely existed in Korea, unlike in the U.S. and China where virtual currency trading has grown over a number of years.
In the U.S., the price of Bitcoin has been sharply fluctuating since surpassing ten-thousand dollars on November 28th. 

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