Bitcoin has been on a rally recently, but experts are saying it’s not as overvalued as it may seem. One reason for this is the ‘Kimchi premium’, which helps explain why the cryptocurrency is not as ‘frothy’ as some may think. The Kimchi premium refers to the price difference between Bitcoin on South Korean exchanges and other global exchanges. This premium has been shrinking in recent months, indicating that there is still strong demand for Bitcoin in the market. This suggests that Bitcoin’s current rally is not just a result of speculation, but rather a reflection of its true value. So, while Bitcoin may seem to be soaring in price, the Kimchi premium helps show that it is not as inflated as it may appear.