In shock after news of Korea's end of War

Image source: CNN.com - Read here for the full report

I am in shock after the news, seeing Korean leaders Kim Jong-Un and Moon Jae-In holding hands on national television. Previously when that happened, it did not go as well as expected. It is a jaw-dropping moment as I have been worried that North Korea could be launching a war anytime soon. Unexpectedly, the military demarcation lines between North and South Korea is demilitarized. While I am here to discuss how this news could impact the cryptocurrency market, please allow me this outsider to talk about this political change in the most neutral way possible.

To many who are unfamiliar with the Korean War in 1950 - 1953, do find out your world history. I remembered studying about the Korean War in my high school briefly, and over the years have seen footage of the poverty in North Korea. I have also watched Koreans separated from their families in the North and South for more than 50 years, some of them who have reconciled only recently. Having all these information in my mind, I could only feel a sense of relief that a peace agreement would be established soon in Korea.

It is a mixed feeling you get when your enemy becomes your friend. One day he is making bombs, and the next day he is shaking hands with you. How long will it take before trust can be fully built between the two nations?

"A new history begins now. At the starting point of history and the era of peace," Kim wrote, adding his name and the date below the message.
Image and text source: AFP & Asiaone.com

How does this change impact cryptocurrencies?
Global events can change circumstances. Definitely, this news has impacted the future of cryptocurrencies albeit slightly or slowly. Before the release of this news, I have strongly believed that the US financial crisis might come sooner or later. I have also taken into consideration that North Korea could start a war with US, which may drastically affect the economies. Now that the "denuclearization of Korea" is about to take place, I see less threat towards the US economy.

Although that said, the balance of power across nations have to occur. Someone has to take the fall. But which country would it be? With the knowledge from https://www.coinhills.com/market/currency/ that Japan, US and Korea are the Top 3 national currencies for trading Bitcoin, political stability of the nations could spur growth in Bitcoin markets. With China also entering the cryptocurrency market (once again), we would expect more growth as well as competition and selection forces to drive the best cryptos up to the Number 1 position.

If nuclear talks were to fail, we might see more unprecedented news to come, affecting the future of cryptocurrencies overall. As for now, I am still bullish about the crypto market. Signing off, and let me take in this historical moment to believe that our world has a chance of achieving world peace in the years to come. :)

-tysler

Image source: Wikimedia Commons - Pyongyang Naengmyeon