Reasons and Trends: Japan or the main driver of the recent rebound in Bitcoin prices


nnnIn recent times, many analysts and financial news networks have pointed out that Japan is the main driver of the rebound in Bitcoin prices. In the past few months, the Japanese special currency industry in the entire Asian special currency exchange market in the growing importance. With the growing demand of Japanese institutional investors and retail investors, Japan is still the second largest encrypted currency exchange market after the United States. And the necessary infrastructure for the Japanese exchange market has been gradually ready, and the mainstream of Bitcoins has grown significantly under the leadership of major corporations and financial institutions.n
nnTranslation: Clovern
nOver the past few months, Cointelegraph has highlighted the importance of the Japanese Bitcoit sector in the entire Asian Bitcoin Exchange market in a series of previous reports.n
nEarlier this week, many analysts and financial news networks, including CNBC, pointed out that Japan has become the main driver of the recent rebound in Bitcoin prices.n
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nJapan and Bitcoin’s love and haten
nAs Cointelegraph previously reported, in the past two weeks, the Japanese spot market showed a rapid growth momentum, the daily trading volume successfully catch up with the US-American currency market.n
nAlthough Japan has only briefly become the world’s largest bit currency exchange market, but because of institutional investors and retail investors growing demand, it is still following the United States after the second largest market.n
nEarlier this year, the Japanese government officially recognized Bitco as the official currency and the value of the means of storage of legal status. Since then, the Japanese special currency exchange market has attracted a wide range of investors and traders.n
nCointelegraph also disclosed that Bitday’s trading volume accounted for 46% of the world’s total trading volume, while the United States accounted for only 25%.n
nJapan is still one of the few countries that use Bitcoin as a digital currency. Large companies and groups, including retail giants Bic Camera and Peach Airlines, have already received Bitcoin as an official means of payment, and in the coming months, hundreds of thousands of businesses, restaurants, bars, Cafes and shops will be integrated with Bitcoin.n
nMore importantly, BitFlyer and other major Japanese special currency exchanges and GMO Group and other billions of dollars of assets of the technology group has begun to provide high liquidity and investment regulatory channels to try to attract institutional investors and retail investors.n
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nAsian Bit Coin Trader, an important market for institutional investorsn
nIn the United States, Coinbase and Gemini began offering services to institutional investors in August. Coinbase received $ 100 million in financing to create more efficient infrastructure for institutional investors, while Gemini worked with CBOE (the largest US option exchange) to increase liquidity for large Bitcoin investors and traders.n
nAs Gemini founder and chief executive officer Tyler Winklevoss said:n
nn”Gemini’s key issues in encrypted monetary ecosystems have always been security, compliance and regulatory oversight, and by working with CBOE teams, we will help retail and institutional investment cards more easily with Bitcoin and other currencies. “n
nnIn the Japanese Bitcoin and Encrypted Money Market, institutional and retail investors also showed interest in digital money as early as 2016. As the necessary infrastructure is in place, the mainstream of Bitcoins grows under the leadership of major corporations and financial institutions.n
nHowever, due to zero charge policy, the Japanese market in the past to disperse the analysts and traders. Analysts said Japan and China are almost the same, has confirmed the existence of false, manipulated trading volume. At the end of 2016, the central bank banned the continuation of the zero-fee policy to prevent market manipulation, counterfeiting or fabricating transactions. At present, the Japanese exchange does not charge any fees for orders and transactions.n
nJapan Bit Coin Exchange market trading volume is not accurate This matter of course can be done. However, due to its efficient and cost-effective trading infrastructure, Japan has attracted investors from China and South Korea, making it an important market for Asian Bitmate traders and institutional investors.n

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