The Bitcoin and the market for crypto-currencies have experienced a meteoric rise in the year 2017. Various countries have caught the fever of the digital currency, but the lion’s share of the demand in crypto-currencies from the areas located in Asia. It emerges from the various recorded data throughout the year as countries such as Japan, South Korea or Singapore have dominated the market of digital currencies.
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The dynasty of crypto-currencies and its relationship with Asia
The price of Bitcoin was less than $ 1,000 in January 2017. Almost twelve months later, the value of this crypto-currency has reached a historical high of 19 600$. In addition to this, many other digital currencies have also seen their prices increase exponentially. Currently, the price of Bitcoin has been on a slight decline, falling to around 15 000 $ and other digital currencies have also lost value.
In addition, most of the major crypto-currencies are still up more than 1,200 % this year, and a large part of the demand comes from Asia.
China loses its leading position
China was once the country where the investors realized the biggest transactions of crypto-currencies. This year, it’s changed a lot. The people’s Bank of China has stopped most of its trade in Bitcoin. The PBOC has kept the business exchanges of digital currencies, such as Huobi, Okcoin and BTCC to negotiate crypto-currencies.
However, since the implementation of this measure, the markets of Bitcoin have grown strongly in other countries such as Japan. South Korea is still in the process of studying the implementation of regulations designed to regulate this market.
Source : NewsBitcoin