Banned in China, Bitcoin 'Fleeing' to Japan
Chinese authorities banned all transactions related to Bitcoin began in October 2017. The virtual currency alias cryptocurency it eventually 'run' to neighboring countries, namely Japan.
Sakura's now become the largest market with a share of 50.75% Bitcoin from all over the world Bitcoin transactions. Analysts once BitFury Commissioner, George Kikvadze, stating that unusual Bitcoin traders to trade in China are now moving to Japan.
As quoted by Reuters on Monday (9/18/2017), last week China's two largest Bitcoin market resign operational from the end of September 2017.
Shortly after the news, the exchange rate of the virtual currency fell to around US $ 2,900 or USD 38 millions. And this happens in just 3 days.
After that, the Chinese authorities finally menginzinkan OKCoin and Bitcoin transactions Huobi to serve until the end of October 2017.
This news was a positive response by the users of Bitcoin that its value back up to the range of US $ 3,850 or approximately USD 50 million.
Last week China still controls 24% of the world Bitcoin transactions. Now this market share fell to just 6.4% just ahead of a total ban next month.
This is good news for BTC. Hopefully, this will lead to less volatility every time China comes out with negative news...although if you are wise, you take advantage and buy during the dips.