Post
Topic
Board Bitcoin Discussion
Re: Why is the price of BTC (and any other crypto) always higher in Asian countries?
by
Ryker1
on 27/09/2020, 21:43:04 UTC
I guess it is because compared to the USA bitcoin is not used in some Asian countries a lot making the price a bit higher than the countries that are already exposed to bitcoin technology.

And maybe because the government does not really support this kind of technology yet just my opinion here in my country, they do not really hate what it is just not really support this yet so companies that want to bring this technology to the country would tend to pay high tax one thing is because it is maybe a poor country. So the tax was just high that the company needed to put the market price of bitcoin higher when converting.

So that the company is going to make its profit and at the same time it would be controlled in the country's fiat currency value.
Well, this is completely irrelevant answer among those replies above. Government and the price does not have a correlation.
The main reason is, bitcoin value was based on USD and we have USDT that back by USD value, it should be 1:1 rate. Now, --let us compared Asian country national currency to the USD. For example, the country Philippines where I am live tat part of Asian. The current value as of now is 1 USD= 48.48 Peso. 1 USD is a tiny amount for them but for us, you can buy 1 kilo of rice that enough for you to eat in a day. That is the rellevance the value of bitcoin into Asian countries.