A huge part alone came from polo altcoin trading.
I would take that transaction volume with a grain of salt for sure.
Topic: Where is all this new trading volume coming from? - page 2. (Read 3809 times)
Seems Japan still have that FOMO, it can be seen on the exchanges volume. This means the new trading volume comes majorly from Japan and it is not done yet, there are still pending license application from several large company that want to venture in Bitcoin too so we are expecting another push in price of Bitcoin this coming months.
And Japan now has the largest trading volume last 24hrs with 50%. And yes, there a lot of exchanges that are going to open soon in Japan so expect the price increase to continue. Maybe the US or Canada are also putting a lot of the bitcoin tradings at a regular rate, but it is really Japan that is pumping new cash flow into the bitcoin ecosystem. We will need to note that the Chinese exchanges are going to resume the withdrawals as well. So this news will really push the price of bitcoin to go $3000 at the end of the month.
Seems Japan still have that FOMO, it can be seen on the exchanges volume. This means the new trading volume comes majorly from Japan and it is not done yet, there are still pending license application from several large company that want to venture in Bitcoin too so we are expecting another push in price of Bitcoin this coming months.
Although, like you said, the volume of Japanese exchanges isn't that high the Japanese impact could be causing the increase in price and the price causes the increase in trading. 2 things I'd like to add to the mix:
1. Japanese investors don't have to be using Japanese exchanges. Before those were established I'm quite sure many people in Japan owned BTC and traded it. Some of them probably never moved to their local exchanges.
2. There's a lot of overestimation and high hopes in the cryptocurrency world. IMO regulation in Japan had a very positive impact and caused BTC to be overvalued. People don't know how many Japanese citizens are using it and probably never been to Japan or watched local news outlets, but they think that people in there are running to the banks, taking their cash out and dumping to exchanges to get this new currency of the future. The truth is to an average Japanese nothing has changed. Most of them still aren't using BTC and aren't planning to.
So, cutting it short, both the volume and price have increased due to the influx of good news and it could increase even more when Chinese exchanges resume withdrawals.
Unfortunately, such rise usually ends with dumping.
1. Japanese investors don't have to be using Japanese exchanges. Before those were established I'm quite sure many people in Japan owned BTC and traded it. Some of them probably never moved to their local exchanges.
2. There's a lot of overestimation and high hopes in the cryptocurrency world. IMO regulation in Japan had a very positive impact and caused BTC to be overvalued. People don't know how many Japanese citizens are using it and probably never been to Japan or watched local news outlets, but they think that people in there are running to the banks, taking their cash out and dumping to exchanges to get this new currency of the future. The truth is to an average Japanese nothing has changed. Most of them still aren't using BTC and aren't planning to.
So, cutting it short, both the volume and price have increased due to the influx of good news and it could increase even more when Chinese exchanges resume withdrawals.
Unfortunately, such rise usually ends with dumping.
I think a lot of volume is coming from Japan. There are many rich investors in that country, just like in China, but they were waiting for a green light from their government and got it. Now it took them some time to sell some assets and transfer huge money to exchanges, so it didn't happen instantly.
No it is not. Why do you all keep saying that? A Korean exchange has more volume than the largest Japanese exchange. Look! Most of the volume still come from the US.
http://coinmarketcap.com/currencies/bitcoin/#markets
The largest volumes that has Bitcoin in them are from Poloniex which is very surprising for an altcoin exchange.
aTriz, are you making it all up? I have not heard back from you.
I think a lot of volume is coming from Japan. There are many rich investors in that country, just like in China, but they were waiting for a green light from their government and got it. Now it took them some time to sell some assets and transfer huge money to exchanges, so it didn't happen instantly.
uh oh! We have a pause in activity. Except bitcoin.
Well, we have heard some time ago that bitcoin is now accepted in Japan as a legal payment option.
Japanese authorities have decided to adopt it in their country, so currently if you go to japan just with access to your BTC wallet, you will be probably able to just spend this currency through the all time you are there: but I think that will happen not faster than in 3-4 years.
You need to spot a very important thing about that this goverment decided to make such a thing: the demand is now increased in there, because people will use it as a another way to pay in store or shop.
Japanese authorities have decided to adopt it in their country, so currently if you go to japan just with access to your BTC wallet, you will be probably able to just spend this currency through the all time you are there: but I think that will happen not faster than in 3-4 years.
You need to spot a very important thing about that this goverment decided to make such a thing: the demand is now increased in there, because people will use it as a another way to pay in store or shop.
What most of you do not realize is it will not make sense for people to start using Bitcoin in a store or shop that accepts CASH and CREDIT CARD. Why would they start using Bitcoin if it is not really needed? They can use CASH it is more efficient and gives less problems.
Quote
So the Japan has made a very significant difference in bitcoin market capitalization, and same with the volume: the big part of it belongs currently to the citizens of this place.
This is the 2nd time I have seen this but without any evidence that proves it is true. Post it here and show us.
Japan is a giant market for bitcoin because its population and because it´s a technology friendly country. As a example you can see some concerts in youtube recorded with smartphones that sound better than profesional recordings. Furthermore there is another little detail, the bitcon creator´s name is Satoshi Nakamoto, it sounds like a Japanese name, a small detail that, through identification, can create more sympathy for bitcoin in the country.
The point of Satoshi Nakamoto is pretty decent and also Japanese government just recently announced bitcoin as legal in Japan so the investors from Japan are being inetersted in bitcoins which is attracting more money in bitcoins and driving the price pretty high in $1800s in some japanese exchanges yesterday.
look at this board and speculation and altcoin board. you at least see 20 topics talking about altcoin market cap!
now all these altcoins have been getting dumped for the past days. all that money is exiting that "market cap" and coming into bitcoin, the only coin that has ever mattered.
and don't forget that the money that went in, is not coming out with a huge profit. for example if you invested $1000 in altcoin market now you have at least $5000 to invest in bitcoin.
aside from that there is Japanese who are investing in bitcoin since it is a legal way of making payments and because of their businesses they are stablishing all around Japan to make more profit.
also other countries such as Russia are more friendly about bitcoin and that has caused a lot more volume coming from them.
Exactly, Good insight !
https://www.cryptocoinsnews.com/altcoin-surge-ends-bitcoin-continues-to-shine/
ITS KNEELING TIME UNBELIEVERS.
now all these altcoins have been getting dumped for the past days. all that money is exiting that "market cap" and coming into bitcoin, the only coin that has ever mattered.
and don't forget that the money that went in, is not coming out with a huge profit. for example if you invested $1000 in altcoin market now you have at least $5000 to invest in bitcoin.
aside from that there is Japanese who are investing in bitcoin since it is a legal way of making payments and because of their businesses they are stablishing all around Japan to make more profit.
also other countries such as Russia are more friendly about bitcoin and that has caused a lot more volume coming from them.
Exactly, Good insight !
https://www.cryptocoinsnews.com/altcoin-surge-ends-bitcoin-continues-to-shine/
ITS KNEELING TIME UNBELIEVERS.
Well, we have heard some time ago that bitcoin is now accepted in Japan as a legal payment option.
Japanese authorities have decided to adopt it in their country, so currently if you go to japan just with access to your BTC wallet, you will be probably able to just spend this currency through the all time you are there: but I think that will happen not faster than in 3-4 years.
You need to spot a very important thing about that this goverment decided to make such a thing: the demand is now increased in there, because people will use it as a another way to pay in store or shop. So the Japan has made a very significant difference in bitcoin market capitalization, and same with the volume: the big part of it belongs currently to the citizens of this place.
Japanese authorities have decided to adopt it in their country, so currently if you go to japan just with access to your BTC wallet, you will be probably able to just spend this currency through the all time you are there: but I think that will happen not faster than in 3-4 years.
You need to spot a very important thing about that this goverment decided to make such a thing: the demand is now increased in there, because people will use it as a another way to pay in store or shop. So the Japan has made a very significant difference in bitcoin market capitalization, and same with the volume: the big part of it belongs currently to the citizens of this place.
All I know is that im trading bitcoin with 10:1 leverage and Im lovin it!
Bitcoin 24 hr volume exceeded $1 billion in 24 hrs last week (with the entire crypto market exceeded well over $2 billion). Thats like a 10 time increase over the last few months. At first I thought it was just pumpers going crazy but now it seems like an established trend.
Where is it all coming from?
What will the volume be like in 6 months?
Where is it all coming from?
What will the volume be like in 6 months?
Japan is going wild with Bitcoin, much more to come guaranteed. They will save billions of Yen only by using Bitcoin, it will give there stagnated economy a little boost.
Many here keep saying this but they fail to explain how. Once someone asks them to explain the whats and hows, they start ignoring you.
Please explain how Japan will save billions if they start using Bitcoins and in what financial sectors they should start using it.
Japan on the move.
http://www.newsbtc.com/2017/05/09/japanese-e-giant-will-launch-gmo-z-bitcoin-exchange-two-weeks/
http://www.newsbtc.com/2017/05/09/japanese-e-giant-will-launch-gmo-z-bitcoin-exchange-two-weeks/
looks like we will see $2,000 in 2 weeks time once japan exchange launches. i really need to hold my coins so i will be able to join the ride to the moon. not gonna sell even if the price drops before the exchange launch
it's just crazy ...
Japan is a giant market for bitcoin because its population and because it´s a technology friendly country. As a example you can see some concerts in youtube recorded with smartphones that sound better than profesional recordings. Furthermore there is another little detail, the bitcon creator´s name is Satoshi Nakamoto, it sounds like a Japanese name, a small detail that, through identification, can create more sympathy for bitcoin in the country.
Agreed with you this time Japan has amazing trend for bitcoin and mostly big companies are buying. It seems there is FOMO situation in Japan and we can see in local market of Japan it is trading on more high prices as compare with Western exchanges.
I was wonder the same thing. The price is going nuts right now and there has to be a reason why.
There always is.
There always is.
Japan is a giant market for bitcoin because its population and because it´s a technology friendly country. As a example you can see some concerts in youtube recorded with smartphones that sound better than profesional recordings. Furthermore there is another little detail, the bitcon creator´s name is Satoshi Nakamoto, it sounds like a Japanese name, a small detail that, through identification, can create more sympathy for bitcoin in the country.
Bitcoin 24 hr volume exceeded $1 billion in 24 hrs last week (with the entire crypto market exceeded well over $2 billion). Thats like a 10 time increase over the last few months. At first I thought it was just pumpers going crazy but now it seems like an established trend.
Where is it all coming from?
What will the volume be like in 6 months?
If this is only Japan working to cryptocurrencies, imagine when the whole world will start adopting bitcoin and other currencies Where is it all coming from?
What will the volume be like in 6 months?
this will most probably happen during next fiat crisisaha! aha! thats what im talking about!
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