Total market volume has fallen from the 14 million Bitcoin range during the first week of the year to about 200k over the weekend. Bitcoin gained almost $50 on Tuesday alone, which is over 5% in value. bitFlyer, Japan’s leading exchange, now controls the largest share of Bitcoin trading volume. The top Bitcoin exchange isn’t even in China anymore. Today, not only are the not the top three traders anymore, but none of them are even in the Top 5 exchanges! There’s a New Sheriff in Town At the start of the year, they handled about 96 out of every 100 Bitcoin trades, worldwide. In January, the entire Bitcoin trading system has been altered by regulatory actions in China against Huobi, BTCC and OKCoin exchanges. Dollar, and Bitcoin is a common hedge during economic turmoil, so that could be a factor in Tuesday’s movement. One issue that did come to light on Tuesday is Iran says they will dump the U.S. Reasons for this sudden shot of Bitcoin power are not immediately clear.
0 Comments
Leave a Reply. |