South Korean Political Events Trigger Cryptocurrency Growth

15 hours ago

Rapid political events in South Korea have significantly impacted the cryptocurrency market, affecting the price of Bitcoin and other assets.

Cryptocurrency Decline Due to Political Events

Initial cryptocurrency losses occurred after the declaration of martial law in South Korea, leading to a drop in BTC price from 132,000 to 90,000 in the KRW pair.

The South Korean National Assembly accepted the decision to lift martial law. Following the acceptance, it was stated that martial law is now invalid.

Price Recovery

Following the lifting of martial law, cryptocurrencies like XRP and others with high trading volumes began to recover. Altcoins also started showing positive growth.

President Yoon announced 'MARTIAL LAW', due to being accused of corruption involving him and his wife, causing a political stalemate.

Further Comments from Political Leaders

Ruling party chairman Dong-Hun Han made a statement opposing the president: "The President’s statement is incorrect. We will stand with the people."

With martial law lifted in South Korea, the cryptocurrency market has begun to recover, highlighting the influence of political events on the global economy.

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