Bitcoin Forum

Bitcoin 24 hr volume exceeded $1 billion in 24 hrs last week (with the entire crypto market exceeded well over $2 billion). Thats like a 10 time increase over the last few months. At first I thought it was just pumpers going crazy but now it seems like an established trend.

Where is it all coming from?

What will the volume be like in 6 months?

It was probably from what i heard massive spam attack when one address were sending money to itself over and over again.
It wasn't confirmed so he doesnt lost money on transaction fees but it created fake volume probably.

You can check if this volume will last for more weeks to come it will tell the truth.

It must be the effect of Bitcoin's recognition as a means of payment in Japan. There is a great movement now in the country, there is talk of 260000 stores that will accept bitcoin, the creation of a lot of exchange houses, even a banking group, SBI Holdings, will open one, and this must be generating a very high demand for cryptos and that´s why this large amount of liquidity is entering the markets.

Its at $1.4 billion for 24 hours now on CMC!

https://coinmarketcap.com/all/views/all/
 
If this trend keeps up I can retire in like 2 or 3 days! ;)

I do not think he means transaction volume in the network. He is talking about total trading volume in all of the exchanges.

What btcforall777 failed to post is the volume of Bitcoin. http://coinmarketcap.com/currencies/bitcoin/#markets

I do not check that often but it was shocking to see that a once upon a time small exchange like Poloniex is the one carrying the majority of volume in Bitcoin.

Japan is going wild with Bitcoin, much more to come guaranteed. They will save billions of Yen only by using Bitcoin, it will give there stagnated economy a little boost.

As there is a sudden increase in the market usage once after the legalized bitcoin acceptance the bitcoin circulation might have increased in a large scale. Further the usage might have increased on price​ uptrend. So this might be the reason why bitcoin trading volume had peaked high than the past days.

People reading crypto news already understand that the trading volume that is pushing the value of Bitcoin (and even altcoins too) to the max is no other than the Japanese market. Japanese surely love the earning potential of Bitcoin and this is just the tip of the iceberg as more and more Japanese are looking for ways to earn money from their savings.

Japan wants to take advantage of the many opportunities that blockchain can bring to their country and we should expect other countries to follow soon. This can be the start of the big growth for the cryptocurrency market.

I think it's coming from the country who recently legalized it.
I think it's coming from the institutional investors in japan like large organization such as banks, pension fund, labor union or insurance company.
that may be the reason with the recent $5 billion price pump in bitcoin.

Can you imagine what will happen if India also take advantage of this opportunity and legalize Bitcoin like Japan did now? We have seen a massive influx of new capital investments from Japan and it made a significant impact on the price, and this is a relative small country compared to India and Russia. < Yes, there might be more poor people in India and Russia, but the numbers will make a significant difference in small quantities >

Now we just need to sort out the scaling nonsense. ^grrrrrrr^

Trading volume for the yen has increased significantly recently.

Interest rates in Japan are terrible and people there have a lot of savings as well as usually being quite welcoming to new technology, so the pieces all add up for an increase in wealthy citizens and institutional investors putting money into Bitcoin.

Its just money moving from bitcoin to altcoins and now it is moving back to bitcoin, alts are in blood bath while bitcoin is on bull trend.
1-2 billion USD trading volume is just a normal volume for bitcoin as it has more than $20 billion marketcap and bitcoin trading is available for 24 hour.

look at this board and speculation and altcoin board. you at least see 20 topics talking about altcoin market cap!

now all these altcoins have been getting dumped for the past days. all that money is exiting that "market cap" and coming into bitcoin, the only coin that has ever mattered.

and don't forget that the money that went in, is not coming out with a huge profit. for example if you invested $1000 in altcoin market now you have at least $5000 to invest in bitcoin.

aside from that there is Japanese who are investing in bitcoin since it is a legal way of making payments and because of their businesses they are stablishing all around Japan to make more profit.

also other countries such as Russia are more friendly about bitcoin and that has caused a lot more volume coming from them.

whenever price is going up, or even whenever it is going down, there is always going to be an increased volume. and this is the main reason in my opinion.
in both cases traders are going to make new trades to buy in the rising market to not miss out on anything. and when it is dropping, they sell their positions in order to prevent loss (like stop loss) and as the size of this price change grows, the amount of volume grows with it.

apart from that, it is the adoption combined with some FOMO.
with Japan news, many people started to see bitcoin as a more viable cryptocurrency that is also legit and good for investment. so they obviously started buying. >> increased volume.

South Korean market is growing pretty fast as well by the way.
Both are very tech savvy nations with great internet infrastructure and smart youth.
BTC's price on Korbit trades for over $1980 at this moment!!

made my day. cheers mate! you deserve it!

hodlers are king.  8)

Europe is dying and people are parking money, and since BTC is on the constant rise for like 2 years now it attracts more and more people. Just wait when the euro shit hits the fan.

I think it is all from the country of Japan because a lot of people there are new to bitcoin so i think the new volume for the bitcoin market is coming from the Japanese investors and i think it will continue to rise because i just read a new article that says bitcoin can reach up to 4000 USD per 1 bitcoin in the near future and that is very expensive price so i think it's still good to buy now just like the Japanese people doing.

Bleed altcoins bleed.

https://media2.giphy.com/media/26xBDEXKOMSvwYV1u/200w.gif

If this is only Japan working to cryptocurrencies, imagine when the whole world will start adopting bitcoin and other currencies :) this will most probably happen during next fiat crisis

Balance of the World.

Good.
Logic.
Safe.

Not like the FIAT shitty printer 200Billions per month system ...

aha! aha! thats what im talking about!

Japan is a giant market for bitcoin because its population and because it´s a technology friendly country. As a example you can see some concerts in youtube recorded with smartphones that sound better than profesional recordings. Furthermore there is another little detail, the bitcon creator´s name is Satoshi Nakamoto, it sounds like a Japanese name, a small detail that, through identification, can create more sympathy for bitcoin in the country.

I was wonder the same thing. The price is going nuts right now and there has to be a reason why.
There always is. :(

Agreed with you this time Japan has amazing trend for bitcoin and mostly big companies are buying. It seems there is FOMO situation in Japan and we can see in local market of Japan it is trading on more high prices as compare with Western exchanges.

it's just crazy ...

Japan on the move.

http://www.newsbtc.com/2017/05/09/japanese-e-giant-will-launch-gmo-z-bitcoin-exchange-two-weeks/

looks like we will see $2,000 in 2 weeks time once japan exchange launches. i really need to hold my coins so i will be able to join the ride to the moon. not gonna sell even if the price drops before the exchange launch

Many here keep saying this but they fail to explain how. Once someone asks them to explain the whats and hows, they start ignoring you.

Please explain how Japan will save billions if they start using Bitcoins and in what financial sectors they should start using it.

All I know is that im trading bitcoin with 10:1 leverage and Im lovin it!

Well, we have heard some time ago that bitcoin is now accepted in Japan as a legal payment option.
Japanese authorities have decided to adopt it in their country, so currently if you go to japan just with access to your BTC wallet, you will be probably able to just spend this currency through the all time you are there: but I think that will happen not faster than in 3-4 years.

You need to spot a very important thing about that this goverment decided to make such a thing: the demand is now increased in there, because people will use it as a another way to pay in store or shop. So the Japan has made a very significant difference in bitcoin market capitalization, and same with the volume: the big part of it belongs currently to the citizens of this place.

look at this board and speculation and altcoin board. you at least see 20 topics talking about altcoin market cap!

now all these altcoins have been getting dumped for the past days. all that money is exiting that "market cap" and coming into bitcoin, the only coin that has ever mattered.

and don't forget that the money that went in, is not coming out with a huge profit. for example if you invested $1000 in altcoin market now you have at least $5000 to invest in bitcoin.

aside from that there is Japanese who are investing in bitcoin since it is a legal way of making payments and because of their businesses they are stablishing all around Japan to make more profit.

also other countries such as Russia are more friendly about bitcoin and that has caused a lot more volume coming from them.


Exactly, Good insight !

https://www.cryptocoinsnews.com/altcoin-surge-ends-bitcoin-continues-to-shine/

ITS KNEELING TIME UNBELIEVERS.

https://media.giphy.com/media/LukAHGCMfxMbK/giphy.gif

The point of Satoshi Nakamoto is pretty decent and also Japanese government just recently announced bitcoin as legal in Japan so the investors from Japan are being inetersted in bitcoins which is attracting more money in bitcoins and driving the price pretty high in $1800s in some japanese exchanges yesterday.

What most of you do not realize is it will not make sense for people to start using Bitcoin in a store or shop that accepts CASH and CREDIT CARD. Why would they start using Bitcoin if it is not really needed? They can use CASH it is more efficient and gives less problems.


This is the 2nd time I have seen this but without any evidence that proves it is true. Post it here and show us.

uh oh! We have a pause in activity. Except bitcoin.

I think a lot of volume is coming from Japan. There are many rich investors in that country, just like in China, but they were waiting for a green light from their government and got it. Now it took them some time to sell some assets and transfer huge money to exchanges, so it didn't happen instantly.

No it is not. Why do you all keep saying that? A Korean exchange has more volume than the largest Japanese exchange. Look!  Most of the volume still come from the US.

http://coinmarketcap.com/currencies/bitcoin/#markets

The largest volumes that has Bitcoin in them are from Poloniex which is very surprising for an altcoin exchange. 

aTriz, are you making it all up? I have not heard back from you.

Although, like you said, the volume of Japanese exchanges isn't that high the Japanese impact could be causing the increase in price and the price causes the increase in trading. 2 things I'd like to add to the mix:
1. Japanese investors don't have to be using Japanese exchanges. Before those were established I'm quite sure many people in Japan owned BTC and traded it. Some of them probably never moved to their local exchanges.
2. There's a lot of overestimation and high hopes in the cryptocurrency world. IMO regulation in Japan had a very positive impact and caused BTC to be overvalued. People don't know how many Japanese citizens are using it and probably never been to Japan or watched local news outlets, but they think that people in there are running to the banks, taking their cash out and dumping to exchanges to get this new currency of the future. The truth is to an average Japanese nothing has changed. Most of them still aren't using BTC and aren't planning to.

So, cutting it short, both the volume and price have increased due to the influx of good news and it could increase even more when Chinese exchanges resume withdrawals.
Unfortunately, such rise usually ends with dumping.

Seems Japan still have that FOMO, it can  be seen on the exchanges volume.  This means the new trading volume comes majorly from Japan and it is not done yet, there are still pending license application from several large company that want to venture in Bitcoin too so we are expecting another push in price of Bitcoin this coming months.

And Japan now has the largest trading volume last 24hrs with 50%. And yes, there a lot of exchanges that are going to open soon in Japan so expect the price increase to continue. Maybe the US or Canada are also putting a lot of the bitcoin tradings at a regular rate, but it is really Japan that is pumping new cash flow into the bitcoin ecosystem. We will need to note that the Chinese exchanges are going to resume the withdrawals as well. So this news will really push the price of bitcoin to go $3000 at the end of the month.

A huge part alone came from polo altcoin trading.
I would take that transaction volume with a grain of salt for sure.

It will unless the block size issue messes things up. Price is up about 50% in 1 month.

I might be missing something. Where did you get that data? Can you post he website here?


The Chinese are known to be the biggest dumpers of Bitcoin in the market after a decent rise in price. If they were around an the PBOC did not intervene I do not believe Bitcoin would have reached $1800. It is better if they are not around.

And the major mining farms are Chinese and if the price goes up too much other companies in other parts of the world might consider investing in bitcoin mining, which would mean that Chinese miners would have more competition.

I have theory but it is just theory that it can be some speculative capital,sometimes it is possible to see that on emerging countrys stocks,thay are coming pumping indexes and going away,it can be also related to very fast growning ICO tokens markes,some ICO are generating heavy milions of dollars

Well, if an ICO only accept cryptocurrency then it maybe one  the reason why there is new trading volume  since fresh funds is coming in to cryptocurrency economy.  Another reason is the sudden change of heart of a certain government towards bitcoin or strenthening its support to the currency like removing consumption taxes and other things just to make it easy for the user to buy or sell cryptocurrencies.  This will definitely cause peopel to buy more.

Rich investors building capital in the ecosystem and also positions in all altcoins
Basically buying a basket for future development maybe some funds have private investors who are looking at this field before the ETF or other assets are approved.

Just like China, there are many rich investors in that country. They were waiting for a go green light from the administration and got it. I think a lot of volume is coming from Japan. It took them sometime to sell some assets and transferhuge amount of money to exchange. So, it doesn't happens instantly.

You only thought about this now? You have been in the forum for a long time, and it is very funny that you have not noticed it. Bitcoin itself is also manipulated by whales and speculative investors if you did not notice.

japanese increased the volume by accepting btc? thats quite an impact. hopefully whatever it is helps btc and doesn't end up hurting it.
lets see if it will keep increasing it would be amazing to watch what happens when (if) ever russia decides to follow into bitcoin acceptance after japan and maybe well even see my country start to widely accept it. which is the usa. who knows maybe a miracle will happen.

I keep asking where the information about Japan gaining major volume of Bitcoin interest but I do not have one reply from any of the people here.

Poloniex, which is an American exchange still has the majority of volume in Bitcoin trading as shown in this link http://coinmarketcap.com/currencies/bitcoin/#markets

 

You will have to look at fiat-BTC trading volumes. You can't base your arguments on which country the Bitcoin exchange is situated in.
You can have a look at this CNBC article
http://www.cnbc.com/2017/05/11/bitcoin-rides-japanese-demand-to-record-1800.html

Is that really the source of all the excitement about Japan? That article is based on what one analyst "believes". There are no facts and no numbers backing up his claim and yet I see everyone here trying to repeat what is said over and over again like it was really true.

It comes from japan in my opinion, japan has always been interest in the technology but after Mt Gox they seem to lost enthusiasm, but it seems they are ready to be back in the game and with the Japanese government recognizing bitcoin then the chances this is true growth is very big.

But what if I say that I do not believe you and that your opinion does not matter? Can you provide all the data and the numbers to prove that you are right? If you say yes then it would be good to provide them. A lot of people here say Japan is having a big impact. Show us the data.

Well yeah we know that there are many investors involved in the speculation of the Bitcoin market. This is nothing new to any market of investment, it usually happens and even in SEC it happens more than the bitcoin market. We have to realize that the whales are here and anything can happen.

It's government(s) getting in on the action, I'm telling you.  I don't know how they're buying it, but they are.  And probably all of Wall Street, too.  Just look at the enormous gains we've had in just a few weeks!  You think Wall Street firms are going to miss out on shit like that?  Hell.  No.  So my guess is that some--perhaps a good proportion--of the trading volume and the huge rise in price--is due to Wall Street and the government(s).  And I'm nowhere near being a conspiracy theorist, but I'm not silly enough to think that trading firms are going to not invest in something that's tripled in a year.

Well no doubt it was a true growth and it still is the Japanese government has announced that the bitcoin can be traded as a mean of payment in Japan. What really doesn’t want the Bitcoin to grow more and develop is the SEC. It is all the game of the SEC to secure itself with the help of the governments who have more interest in the SEC than that of the Bitcoin.

I'm not a specialist in Japan however I got the impression that people there are quite conservative, no immigration, no children, work a lot, and buy a lot of their government debt, even though it's almost worthless and doesn't give any significant return.

It's very strange then to hear that Japanese people are buying BTC, it's counterintuitive.

It's not Japan or someone specific, when you feel yourself confident that you'll make a big Profiting through something surely you'll invest at least a small amount. The same is happening with the Japan people as the government itself has shown them the green signal. There is nothing strange Japan people buying BTC.

The real deal here is not only japan but the rest of the countries that accept bitcoin, we can not know where this pump exactly is from, but one things for sure there is someone or something that is pumping up the volume of bitcoin and If it will be great to bitcoin then I will humbly accept it, and the impending july 1 Australia will definitely join the force of pumping up the market cap.