All users are wondering the answer to the question why prices are different in domestic and foreign cryptocurrency exchanges. To give an example, values of currencies like US dollar, Euro and Sterling vary according to factors such as supply and demand. Likewise, the price of Bitcoin fluctuates according to supply and demand. In addition, global developments also have a big impact.
In general, if the number of buyers in the stock exchanges is high, the price increases. If the sellers outnumber the buyers, the price decreases. Briefly, the more is the demand, the more is the price increase.
In some countries, BTC is sold at a price of 20-30% more than in other countries. This situation arises from the abnormal demand in that country. Thereby, high demand to crypto exchanges causes price increases.
Leaving aside Bitcoin, we see that some altcoins are much more commonly used in certain countries. These coins, used in daily life, are valued at higher prices compared to other exchanges, as they are also used in trade and shopping. Countries such as South Korea have been removed from some crypto analysis websites due to the heavy demand in the South Korea crypto markets. As a result of this, altcoins such as Ripple (XRP) lost value. In the South Korean markets, such altcoins were priced at high volumes.
When we take a look at the exchanges in the Turkish market, we can see that prices are often variable. As an example, there were big price differences when Bitcoin was on the rise. As a result of this, buyers in Turkey showed intense demand for Bitcoin. Since they do not sell but hold their existing digital assets, price differences occur.
In a market with excessive purchases and stagnant sales, the value increases upward if purchases exceed sales. Contrarily, the price will show a downward trend when sales increase.
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