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Bitcoin price reached $ 2,087, transactions in Japan and South Korea reached $ 2,350 / BTC

Bitcoin has set a new high of $ 2,087 yesterday after rising to its previous record of $ 2,050, with demand for Bitcoin rising from investors in the US and Japan. Korea.

At the time of writing, Bitcoin being traded in Japan and Korea were the second and third largest Bitcoin markets in the world at an incredible $ 2,350 price, higher than $ 1150. % Of global average Bitcoin price.

  Analysts including Charles Hayter, CEO of CryptoCompare explained that the Bitcoin exchange market of Japan and South Korea played an important role as a driver of Bitcoin's recent price increase. In an interview with CNBC, Hayter said,


"The competition between the currency pairs involved pulling the market up or down in line with this top market." At present, the volume on the KRW and JPY pairs dominate the market with a 48% market share".


  Tiendientu.com has previously emphasized the importance of the Japanese and Korean trading markets on the global Bitcoin market. The two markets hold more than 48.6% of the global Bitcoin market share and represent the majority of investors and organizations in Asia.



  In particular, Japan has experienced explosive growth in demand for Bitcoin as some of the most influential corporations in the country have announced the launch of electronic payments as a response to so many. Customers, with a view to facilitate the business of Fiat-to-Digital currency in a safe and transparent way.

The Altcoin market will always be bubbling (making market prices).

  A number of large investors have started to set up Altcoin bubble and are now concentrating around Ripple and NEM.

  IndieSquare co-founder and researcher Koji Higashi of Japan has stated that the legalization of electronic coins and duty free Bitcoin convinced newcomers to start.

  However, Higashi noted that most investors are pouring money into other non-Bitcoin electronic coins but do not have much knowledge and understanding about electronic money.

Higashi explained:

When I first joined the Japanese investors, I set up a bubble on this wonderful Altcoin market and money was flowing into some Altcoins. This new direction is the lack of knowledge or appreciation of the technology of many new users. "

What happens next?

   In the next few months, as Bitcoin maintains its momentum and upward trend, it is likely that Japan's electronic money exchange market will prove stable and reduce interest in electricity bills. Death altcoins replaced. If so, the demand for Bitcoin will increase over time.

 
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Published by Peter Thomson