South Koreans appetite for cryptocurrencies on the rise: Defies crypto bear market


  • The regular investor in South Korea has $6,100 worth of digital assets.
  • Most of the investors in the country are in their 40s and 50s.

The crypto community in South Korea appetite for digital assets is on the rise in spite of the down trending market. A report that took account of the last 12 months indicates that the residents of the nation have not slowed down and keep buying the dip.

The report also adds that the number of investors rose from 6.4% to 7.4% in South Korea. Investment went higher by 64.2% all through the last 12 months. The average amount put into the cryptocurrency market by the regular investor was put at $6,100 representing a double growth from the levels recorded in 2018. The report said that most of the investors in the country are in their 40s and 50s.

The study was carried out across the six largest cities in South Korea and focused on investors between 25 and 64 years old. However, there has been a decrease in the number of investors from 2017. At the time, close to 30% of all salaried workers had bought into cryptocurrencies where most made gains in the excess of 400%.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD range-bound as CME’s futures option catch momentum

Following the failed attempt to correct above $9,200, Bitcoin suffered a devastating correction that sent it back to the support at $8,500. While the bulls acted quickly and pushed BTC above $87,600.

More Bitcoin News

Cardano Price Rises Above The 50 SMA: Ouroborous BFT consensus to launch mid-February

The crypto market is mixed and green. Among the digital assets in the green is Cardano (ADA). The last 24 hours have seen Cardano grow 7.33% from lows around $0.0420.

More Cardano News

BCH/USD spotted falling triangle hints imminent breakout

Bitcoin Cash is among the many cryptocurrencies struggling to stay afloat above key support areas. The tag pf war started on Monday when Sunday’s recovery hit rocks across the board.

More Bitcoin Cash News

Litecoin may undergo a soft fork to enhance security

Litecoin, the 7th largest digital coin with the current market value of $3.6 billion, has stayed mostly unchanged in recent 24 hours.  At the time of writing, LTC/USD is changing hands at $57.25, off the recent high registered at $63.17 on January 17. 

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls piggy-back on altcoins rally

This week was marked by a strong altcoins rally on the cryptocurrency markets. Bitcoin SV (BSV) and Dash experienced the sharpest price increase over 100% in recent seven days...

Read the weekly forecast

BTC

ETH

XRP