[Bitcoin Now] Rebounds to 46 Million Won Range... Rising Despite Amazon Denying Payment Service

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Gong Byung-sun] Despite Amazon, a global IT company, denying rumors of adopting cryptocurrency payment services, the leading cryptocurrency (cryptocurrency) Bitcoin rebounded to the 46 million KRW range.

According to the US economic media Bloomberg on the 26th (local time), an Amazon spokesperson denied the rumor of introducing Bitcoin payment services through an official statement, saying, "Amazon will not accept Bitcoin as a payment method within this year." On the 23rd, rumors circulated that Amazon would launch cryptocurrency payment services after posting a job advertisement seeking digital currency and blockchain experts. The cryptocurrency market paid attention to the entry of a new global company, but the expectation seemed to fade as it was revealed to be groundless.

Nevertheless, Bitcoin rose. According to the domestic cryptocurrency exchange Upbit, as of 4:04 PM on the 28th, Bitcoin recorded 46 million KRW, up 1.30% compared to the previous day. It had fallen to 42.05 million KRW at 12:04 PM the previous day but then rebounded. On the same day, it also rose to 46.64 million KRW at 12:34 PM.

Bitcoin, which had been trapped in a box range, has recently shown a steep upward trend. At the beginning of this month, Bitcoin could not escape the 37 million to 41 million KRW range. Between the 1st and 15th of this month, Bitcoin's highest price was 41.64 million KRW, and the lowest was 37.08 million KRW. However, starting from the 23rd, it rose for six consecutive days. On the 26th, it recorded 46.8 million KRW, setting a new high for this month.

Meanwhile, domestic cryptocurrency prices have become cheaper than overseas prices for the first time in about five months. According to the cryptocurrency data site Crypprice on the 28th, the Kimchi premium recorded -0.06% on the 26th. This is the first time since February 18th that the Kimchi premium has fallen below zero. The Kimchi premium is a figure indicating the price difference between domestic and overseas cryptocurrency exchanges, and when cryptocurrencies are purchased cheaper domestically, it is called the 'reverse Kimchi premium' phenomenon.