The Bitcoin price and value continue to rise and this week has seen Bitcoin drive past the $5000 level, a new all time high. Interesting to note that Japan leads the current 24-hour ranking.
#1 Japanese Yen – 54.54%
#2 U.S. Dollar – 26.64%
#3 Chinese Yuan – 8.23%
#4 South Korean Won – 6.11%
#5 Euro – 3.01%
In 2016, reporting showed that most of the trading was coming from China, however, since the People’s Bank of China imposed strict regulations on the crypto exchanges in the country, the percentage of traded volume using the Yuan dropped significantly.
In contrast to China, the Government of Japan passed a law legalizing Bitcoin as a payment system. Bitcoin adoption in the country has rapidly escalated as the merchant, consumer, institutions have embraced this bold move.
Brisk trading with the South Korean Won continues with one of the possible reasons being the Geo Political Risk the country finds itself in.
Currently, Global Bitcoin traded volume being lead by the Far East. Learn more about what drives the Bitcoin price – Top 10 Drivers
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