Bitcoin's Brutal Week Is Even Worse in South Korea

The deepening selloff in cryptocurrencies has just claimed another victim: Bitcoin’s kimchi premium. Prices for the virtual currency in South Korea have tumbled back in line with those on overseas exchanges for the first time in seven weeks, erasing a gap that had swelled to 51 percent in early January. The premium had been so persistent -- and so unique among major markets -- that traders named it after Korea’s staple side dish.

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