There is strong volatility in Bitcoin price around the world. It changes from one country to another. There are reasons for that.
For example, if you buy Bitcoin in Zimbabwe, you have to pay nearly 80 percent more than what you pay in Japan. There is a strong reason behind the high price of the most well-recognized cryptocurrency in the world. Zimbabwe has its hyperinflation to blame. Most of its citizens do not trust their own currency at the moment. So, they are banking more on major cryptocurrencies like Bitcoin.
Bitcoin price is high is South Korea as well. In January, it took around $18,200 to buy one Bitcoin in the Asian country. According to Bitcoin News, South Korea charges a certain premium that goes as high as 50 percent at times.
There are times when the value of a cryptocurrency goes up or down, when it is sent to another country. But, it’s not only about countries. Crypto rates differ from one exchange to another as well. Crypto traders often take advantage of this arbitrage and make profits.
So, the difference in Bitcoin prices can actually be a good thing for traders, if they know how to profit from it.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]