Foreign media: traders fought in Japan, Japan or the world’s largest bit market

nnRecently, with the Chinese regulators to further halt the Chinese special currency exchange business, a large number of Chinese traders into the Japanese special currency trading market, prompting the Japanese exchange trading volume in the short term usher in a new round of surge. Japan once again surpassed the United States to become the world’s largest Bitcoin exchange market, accounting for 50.75% of the global market share. At the same time, the daily trading volume of China’s Bitcoin Exchange was halved in three days, from 15% to less than 7%. Industry experts and analysts have said that China’s exit from the spot market may push the global market for the spot market to stabilize, which is beneficial in the long run.n
nTranslation: Clovern
Japan has once again become the largest bit currency exchange market, accounting for 50.75% of the global market share of Bitcoin Exchange. BitFury Vice President George Kikvadze and other analysts believe that the Japanese spot market trading volume surge from the Chinese bit as the currency traders out of the Chinese market.n
Earlier in the day, the Chinese government, local authorities and financial regulators formally demanded that China’s special currency exchange and trading platform stop service by the end of September. Considering that China’s two major exchanges – the OKCO and the coinage network in the past did not participate in any form of the first digital tokens (ICO), the two deals were allowed to have some roundabout time and could operate until 30 October Then
But it seems that traders are reluctant to have any chances of strict regulation of the Chinese government and its unpredictability. China’s daily trading volume on the spot was halved in three days, falling from 15% to less than 7%.n
According to CryptoCompare data from different trusted Bitco data providers, the Chinese market accounted for only 6.4% of the global market for Bitcoins at the time of submission.n
nCryptoCompare data show that the Japanese market accounted for more than 50% of all # bit currency transactions. Chinese traders have turned to the Japanese market. China market accounted for less than 7%
– Joseph Young (@iamjosephyoung) September 17, 2017n
US market advantagen
The US exchange market has maintained its position as the world’s largest bit-denominated exchange market before China shuts down the spot currency exchange.n
However, traders will immediately turn to the Japanese spot market after the three major foreign currency exchanges – Bitcoin China, coins and OKCoin announcements will gradually stop trading. Chinese traders suddenly moved to Japan on a large scale to lead to a short-term surge in Japanese trading volume, so that the country’s market beyond the United States, accounting for global market share of more than 20% of the market share of more than 20%.n
Contrary to many negative reports, well-known developers, analysts, researchers, experts, and co-founder Charlie Lee and billionaire investor Tim Draper, both in the field of encrypted currency and block chain, The exchange of the exchange market is optimistic. Lee said that the Chinese government’s manipulation of the market since 2013 will cease to exist.n
Lee said:n
n”It’s good news that China will no longer be able to compete in the market by banning Bitcoin. The encrypted currency will not be stifled by any country. One of the solutions to the centralized exchange is to go to the center of the exchange. I heard that the Decred project team is brewing projects that will help this solution. “n
Bitcoin stabilizedn
As Lee emphasized, the withdrawal of the Chinese currency market will only affect about 10% to 15% of the global spot market. However, the Chinese government shut down the exchange or to promote speculators and impaired traders launched a large-scale sell-off, resulting in a significant adjustment in the price of Bitcoin.n
In the next few weeks, as the Chinese market traders moved to Japan and South Korea, the two pairs of encrypted currency exchanges and users have developed more effective laws and regulations, industry standards and policies of the market, the global Bitcoin exchange market Will gradually stabilize.n
As pointed out by Lee and Draper, the closure of the market in China’s foreign currency market may lead to a stabilization of the global market for the spot market, which is beneficial in the long run.n

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