Bitcoin’s value is higher than ever before, and the Japanese yen has been the top currency used within bitcoin’s global trade volume over the past year. According to the CEO of the Tokyo-based trading platform Bitflyer, Yuzo Kano, the current bull run is being bolstered by market movers utilizing leverage.The price of bitcoin has been on fire in 2017 gaining new all-time highs month after month. Every day global exchanges are swapping billions worth of bitcoin, but one particular exchange from Tokyo has been dominating the pack. Bitflyer created in 2014 by Yuzo Kano is one of the world’s top exchanges and usually captures the second and third position among exchanges globally. The Japanese yen has also been dominating the world’s trade volume and at times can be over 60 percent of global BTC trades. At the moment the yen is leading by 42 percent ahead of the U.S. dollar, and the euro. According to Mr. Kano, lots of Japanese traders are fuelling the market by purchasing with leverage of up to 15X based on their initial deposit.
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