Japan is not leading the rally

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I like being pedantic 🙂

I've read multiple claims in news articles and even on this sub that this rally is being led by Japan, here's the latest:

https://www.cryptocoinsnews.com/bitcoin-price-hits-1567-new-time-high-led-japan-us/

It isn't.

They all say this because Japan's exchanges show a very high % of the bitcoin trading volume. This is because bitflyer, the main Japanese exchange, doesn't charge fees on their trades.

People and bots trade loads of times back and forth for free which leads to skewed results.

This happened on the Chinese exchanges until their government forces them to get rid of the no fee for trading model and volumes fell significantly.

So Japan is not leading the rally.

submitted by /u/htrgrtr
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1 Bitcoins

Bitcoin News and Search

1 News - 247 News - 247 Bitcoin - 1 Search


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