BrewMaster
Legendary
 Offline
Activity: 2114
Merit: 1292
There is trouble abrewing
|
 |
May 14, 2018, 03:10:12 PM |
|
if that was true then bitcoin price would have already been at least $100k by now because the demand for bitcoin is increasing every second in Japan and with that a lot more money is being invested in bitcoin.
if anything the rest of the world (like the US market) is bringing down the price and the price that Japan sets.
|
There is a FOMO brewing...
|
|
|
|
|
|
|
|
|
|
|
|
Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
KorakPawon
Member
Offline
Activity: 350
Merit: 11
|
|
May 14, 2018, 03:18:48 PM |
|
it can happen because Japan is one of the big countries that legalize bitcoin and big investors are there. Therefore Japan has a big share in price movements.
|
|
|
|
|
|
Cacingkemi
|
|
May 14, 2018, 03:31:28 PM |
|
It could happen if seen in the direction of japan has indeed strengthened BTC by legalizing crypto there,but it can't be ascertained that Japan can control the movement of BTC value cause all countries participate in the market along with mutually multiply demand.
|
|
|
|
|
BillCoin
|
|
May 14, 2018, 04:53:13 PM |
|
It's not the Japanese controls the price of bitcoin, it's a very small group of people controlling the price .
It's proved that there is a small group of people that own million of bitcoins, those bitcoins are easy to be liquidated and they can just sell off/buy them off based on their willing to decrease/increase the price of single bitcoin, we should learn how to ride the waves, as can't really fight them.
|
|
|
|
|
|
Hell-raiser
|
|
May 14, 2018, 05:07:01 PM |
|
The only exchanges that matter are GDAX, Bitfinex, Gemini and Bitstamp. All foreign trading volumes do contribute somewhat, but they mainly affect their own market. I remember when South Korean exchanges were trading $5000 above western exchanges, which is beyond insane, but the western markets didn't give one single damn. Later on South Korean premiums vanished and became just a few hundred instead of thousands -- this perfectly indicates that continents have different demand standards and don't necessarily steer the other side up or down with it. That's the benefit of having different exchanges all operating different order books.  The price discrepancies between exchanges have more to do with peculiarities and issues like withdrawal and deposit fees on fiat transfers rather than "continents having different demand standards". If everyone were able to both flawlessly withdraw and deposit fiat (and sometimes crypto as was the issue with Chinese exchanges in the first half of 2017), the arbitrageurs would quickly jump at the opportunity to make easy money and level out prices. If there were equal conditions at every exchange out there, the prices would be pretty much the same everywhere in the neighborhood. Things like withdrawal and deposit fees, limits on withdrawal amounts, times to withdraw and deposit, etc explain such big differences in prices on various exchanges. |
|
|
|
|
superstarbtc
Jr. Member
Offline
Activity: 378
Merit: 3
|
|
May 14, 2018, 07:58:31 PM |
|
even though Japan hodl most of bitcoin market and price superiority we cant completely say they only manipulate the price it is global news affects the bitcoin price
|
|
|
|
|
|
Clement Kaliyar
|
|
May 14, 2018, 09:09:09 PM |
|
If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!
The price of bitcoin went below $8800 this time around and it did not turn ugly, expect the market to go down in the short period of time, as an investor i do not bother about these short term corrections, the main reason might be because of the sell off by Mt Gox team and they will keep on selling the coins but the price will recover. Japan is not having the entire volume and the price is not dependent on their volume alone. |
|
|
|
|
|
TTITA
|
|
May 14, 2018, 10:52:52 PM |
|
If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!
The price of bitcoin went below $8800 this time around and it did not turn ugly, expect the market to go down in the short period of time, as an investor i do not bother about these short term corrections, the main reason might be because of the sell off by Mt Gox team and they will keep on selling the coins but the price will recover. Japan is not having the entire volume and the price is not dependent on their volume alone. I think he want to mention that Japan has dominates Asian market volume, but the market that has a big influence in the world of crypto trading is still in the USA, so I'm not sure japan run the whole BTC price. |
|
|
|
|
Semaj123
Member
Offline
Activity: 434
Merit: 10
|
|
May 14, 2018, 11:04:49 PM |
|
If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!
The price of bitcoin went below $8800 this time around and it did not turn ugly, expect the market to go down in the short period of time, as an investor i do not bother about these short term corrections, the main reason might be because of the sell off by Mt Gox team and they will keep on selling the coins but the price will recover. Japan is not having the entire volume and the price is not dependent on their volume alone. I think he want to mention that Japan has dominates Asian market volume, but the market that has a big influence in the world of crypto trading is still in the USA, so I'm not sure japan run the whole BTC price. You may have a point, we can't conclude that Japan controlled the price of Bitcoin because still nobody knows who controlled its value. Japan totally accepted cryptos and it's good that they totally make used of the technology and I think they contributed a lot in terms of making the crypto to be more popular. But still, Bitcoin is decentralized and data are being spread globally so it is not the Japan who controlled the price but the people who uses it IMO. |
|
|
|
|
|
noah tall
|
|
May 16, 2018, 01:02:44 PM |
|
I was thinking before that Chinese run the market and that is why news from that region do affects bitcoin in the most negative or positive ways. Japanese also have some influence but I don't think that they control the market as there are many factors that determine price.
Big countries decisions effect price of bitcoin because people think that if they are making decisions about bitcoin certainly they thoroughly investigate it and finally gave their decision. My country has banned bitcoin and I know it is for the time being but it will take long time that the government legalizes bitcoin in my country. China has banned bitcoin two times but now they allow their people to trade and invest in bitcoin. |
|
|
|
iv4n
Legendary
Offline
Activity: 3122
Merit: 1171
|
|
May 16, 2018, 04:25:59 PM |
|
I was thinking before that Chinese run the market and that is why news from that region do affects bitcoin in the most negative or positive ways. Japanese also have some influence but I don't think that they control the market as there are many factors that determine price.
Big countries decisions effect price of bitcoin because people think that if they are making decisions about bitcoin certainly they thoroughly investigate it and finally gave their decision. My country has banned bitcoin and I know it is for the time being but it will take long time that the government legalizes bitcoin in my country. China has banned bitcoin two times but now they allow their people to trade and invest in bitcoin. In the end all news from China were fake, to much noise about nothing. In your country bitcoin is banned maybe but you are still here, they can't stop you from using crypto. Bitcoin is a world stage, I'm sure there are strong groups in every country, and individuals, they affect price with their actions but wellbeing of bitcoin is mutual for all. In big countries lives a lot of people, positive or negative news from big countries governments affect big masses, later their decisions affect price. Bitcoin is still decentralized, nobody can fully control it, until bitcoin is decentralized we will not need to worry about who controls it. |
|
|
|
vickybitcoin
Newbie
Offline
Activity: 149
Merit: 0
|
|
May 16, 2018, 05:21:57 PM |
|
If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!
I dont think so, this is just a slight drop and this is normal. We have been constanly rising in the past weeks and now the drop is just normal and expected by seasoned traders and investors. I know it will be recovered soon! |
|
|
|
|
|
krampus854
|
|
May 16, 2018, 06:02:30 PM |
|
If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!
Japanese are not the most users and investors in bitcoin they are just supporting bitcoin from the acceptance of many countries in the world. Yen is just another currency that is being used by people in japan. Bitcoin's price will increase in just matter of time. |
|
|
|
|
|
