Japanese people, here they come

[Casdinyard]

Bitcoin not Safu haven, but People Seem to not Mind that

Not to promote this source bitbank, but according to them, the bloodbath or the recent bitcoin decline seem to be an opportunity for Japanese people to accumulate or buy more bitcoins. That is based from the number of people registering new accounts on the Japanese crypto exchange which is the bitbank.

Imagine, a 40 percent spike for the number of people is quite huge and KYC doesn't restrict that to happen. What does that mean?

For me, I know Japanese people's actions are so absolute and precise, they have huge discipline in many aspects that they take  and with regards to the recent market decline, I believe that they know what they are doing, and with that, accumulation of huge amount of cyptocurrency would be advisable for us to consider.

[Lucius]

Although BTC has not proven resilient to the current global crisis, most investors still know that the time is right to buy when the blood is on the streets. Many saw the opportunity to invest in BTC at an extremely good price (under $4000), probably assuming that the upcoming halving would still have a positive impact on the price increase. Looking at the short term, they have all already profited from the current price, and it is not at all unrealistic that they will profit in the long run.

However, perhaps the reason for investing in BTC by the Japanese should also be seen in the fact that BTC is completely legal in that country, and that there are many shops, restaurants, cafes that accept it as a means of payment. Therefore, it is possible for some to buy it only in the short term to get more for their money by paying for goods and services. This may be even more important if we know that crypto taxes in Japan go as high as 55%, which is definitely not at all attractive to large investors.

[Twinkledoe]

If the stats are true, it will create more demand for bitcoin. I like Japanese people, the discipline, their way of life. The movement may be owed largely to our current pandemic situation. They don't care if they are required to undergo KYC because I believe they are one of the honest people on earth. Just my opinion. Because I remember reading their history, if someone did wrong, he will commit harakiri. So this is good news in crypto, more users, more demand, hence, increase in price.

[gentlemand]

If Japanese people were going to run in and save us they would've done it several years ago as they've had the opportunity all along.

I have genuinely never in my life seen any trader anywhere mention JPY volume or pay any attention to it. That says enough about adoption and interest there.

They love their cash above all. It's also revealing that I remember Roger Ver saying that everywhere he went and told locals about BTC they were intrigued, the only exception was Japan where the majority decided it sounded scary.

Japan will get there in the end alongside everywhere else but if it was going to lead it would be doing it already. It has tools and options few others places do.

[bhabygrim]

So it is the reason why the price of Bitcoin goes up recently I though that most of the people who panic sell their holding are buying it back.
I think it is a good sign for Bitcoin. The question now is if this would continue and Japan would make a big move towards crypto or Bitcoin.

[figmentofmyass]

I have genuinely never in my life seen any trader anywhere mention JPY volume or pay any attention to it. That says enough about adoption and interest there.

in 2017, japan was a big deal. i always had a tab open for bitflyer BTC/JPY, and so did other traders i know of. at one point BTC/JPY even represented 60% of all reported trading volume: https://www.cnbc.com/2018/06/22/bitcoin-tumbles-after-japan-watchdog-orders-exchanges-to-review-business-practices.html

after strict crypto regulations were passed, japanese exchange volume plummeted and japan fell off the radar. most of it was fake to begin with i'm sure, but fake volume can have a powerful effect. before 2017, we used to follow chinese exchanges for the same reason.

[gentlemand]

after strict crypto regulations were passed, japanese exchange volume plummeted and japan fell off the radar. most of it was fake to begin with i'm sure, but fake volume can have a powerful effect. before 2017, we used to follow chinese exchanges for the same reason.

That's a very good point. You've reminded me the biggest Japanese exchanges had zero fee trading just like China. That makes whatever impact Japan had at the time doubly irrelevant. They're well ahead in terms of retail adoption compared to most places. I'd be very intrigued to know if it's anywhere above negligible.

[Cryptoreflector_666]

So it is the reason why the price of Bitcoin goes up recently I though that most of the people who panic sell their holding are buying it back.
I think it is a good sign for Bitcoin. The question now is if this would continue and Japan would make a big move towards crypto or Bitcoin.

In my opinion, bitcoin will recover very quickly. A couple of months and we will see steady growth again. What do you think influences growth very much? Of course, the crisis! And now is the most favorable time for bitcoin.

[Ryutaro]

Would we expect less from Japanese lol? Wise people will know that this can be a perfect chance to have a nice investment since the price is very affordable and can't really get much lower than it is now. People are panicking and cashing their money to save it home, mostly thinking that the crisis will have a huge influence on money liquidity, we're all seeing what this worldwide panic has done, people are acting without any proper thinking and Japanese got enough gray matter to make the correct choice lol.

I have genuinely never in my life seen any trader anywhere mention JPY volume or pay any attention to it. That says enough about adoption and interest there.

reports measuring the volume by countries always state China, Korea and Japan in the first places also we can't except a large adoption there, by the end, it's a small island compared to china.

[gentlemand]

reports measuring the volume by countries always state China, Korea and Japan in the first places also we can't except a large adoption there, by the end, it's a small island compared to china.

It has 125 million people earning around ten times more than Chinese people. You're hard to please.

China is long gone. Korea burnt itself out, is also a closed market so no foreign money can get in and out, and it has been another one with zero fees which makes volume meaningless.

[stompix]

Yeah right:

The number of weekly registration at bitbank jumped 40% above average a week after the Mar. 12th BTC price crash.
Volume and changes in the number of accounts shows retail investors are buying the dip.
The current situation vastly differs from the pre-Crypto Winter of 2019.

Author:
By Yuya Hasegawa, a Market Analyst at bitbank, inc

Definitely going to trust those numbers.
If a company reports an increase in clients it's normal to think that the whole country is doing this, Japanese people are withdrawing every yen and putting all in Bitcoin.

But lets' look at the facts:
https://app.bitbank.cc/trade
Hmm, is that line going up or down, cause to me it sure looks like it goes downhill (volume at the bottom, not the price)

[Oasisman]

Bitcoin not Safu haven, but People Seem to not Mind that

That is based from the number of people registering new accounts on the Japanese crypto exchange which is the bitbank.

This maybe because people in some areas of Japan has been prohibited to go out so their government can easily contain the virus, thus most people have the luxury of time to read about cryptocurrency, monitor the price, and invest in the most convenient price.
So, I guess this explains why Bitcoin seems to be gradually recovering after it fell as low as $4,000 level.
Nevertheless, crypto enthusiast would always find the recent blood bath an opportunity of a multiple profit.

[BlackFor3st]

Bitcoin not Safu haven, but People Seem to not Mind that

Not to promote this source bitbank, but according to them, the bloodbath or the recent bitcoin decline seem to be an opportunity for Japanese people to accumulate or buy more bitcoins. That is based from the number of people registering new accounts on the Japanese crypto exchange which is the bitbank.

Imagine, a 40 percent spike for the number of people is quite huge and KYC doesn't restrict that to happen. What does that mean?

For me, I know Japanese people's actions are so absolute and precise, they have huge discipline in many aspects that they take  and with regards to the recent market decline, I believe that they know what they are doing, and with that, accumulation of huge amount of cyptocurrency would be advisable for us to consider.

If there is a chance for Japanese people to earn then they will surely grab it especially if they are sure that they can profit to what they are doing. Right now the market is still low so it is still good for buying then hold for a long term one and I am sure that Japanese people are up for it.

Because trading is not that easy to engage especially if the investors are still newbie therefore there option if there are many people who are registering a new accounts to bitbank exchange is to buy low and sell high which is a long term investment.

[Sadlife]

Looks like japanese people are smart because most people in various country would sell their positions especially my country where even if a short term correction occurs they would panic and sell thinking that Bitcoin might go to zero value, cause they have this concept about Bitcoin that its a scam because they're not properly educated about how Bitcoin works and its capabilities.

[sunsilk]

Yes, they know what they're doing and aware of the situation of the market. They are wise and known to be one of the most high-tech country in the world, knowing that the huge contribution in the technology comes from them.

If all the people does have the mindset of the Japanese people, they'll earn from it someday. It may not be as quick as the beginners think but this is all about the long term.

[Mpamaegbu]

So it is the reason why the price of Bitcoin goes up recently I though that most of the people who panic sell their holding are buying it back.
I think it is a good sign for Bitcoin. The question now is if this would continue and Japan would make a big move towards crypto or Bitcoin.

In ventilating my opinion, Bitcoin will continue to rise from now despite the Coronavirus scourge till Bitcoin halving in May. It may not be a steady rise but the price won't crash what we already have seen. And if the remedy to this pandemic is found before halving that means Bitcoin price will be to the sky. I think speculators and investors are buying now on this belief.

[senin]

Bitcoin not Safu haven, but People Seem to not Mind that

Not to promote this source bitbank, but according to them, the bloodbath or the recent bitcoin decline seem to be an opportunity for Japanese people to accumulate or buy more bitcoins. That is based from the number of people registering new accounts on the Japanese crypto exchange which is the bitbank.

Imagine, a 40 percent spike for the number of people is quite huge and KYC doesn't restrict that to happen. What does that mean?

For me, I know Japanese people's actions are so absolute and precise, they have huge discipline in many aspects that they take  and with regards to the recent market decline, I believe that they know what they are doing, and with that, accumulation of huge amount of cyptocurrency would be advisable for us to consider.

This is good news, which indicates that the recent fall of the cryptocurrency market was not a panic, but only the need to withdraw funds by many people in order to prepare for quarantine in the context of the spread of coronavirus. When the price of cryptocurrency has fallen, visionary Japanese use this moment to be able to make a profit in the future. After all, no one has yet canceled the reduction of remuneration to miners in May, life will continue and the cryptocurrency market will work.

[davis196]

Bitcoin not Safu haven, but People Seem to not Mind that

Not to promote this source bitbank, but according to them, the bloodbath or the recent bitcoin decline seem to be an opportunity for Japanese people to accumulate or buy more bitcoins. That is based from the number of people registering new accounts on the Japanese crypto exchange which is the bitbank.

Imagine, a 40 percent spike for the number of people is quite huge and KYC doesn't restrict that to happen. What does that mean?

For me, I know Japanese people's actions are so absolute and precise, they have huge discipline in many aspects that they take  and with regards to the recent market decline, I believe that they know what they are doing, and with that, accumulation of huge amount of cyptocurrency would be advisable for us to consider.

It's good to know that many Japanese people continue to believe in the power of Bitcoin,despite the crisis.
Perhaps the Bitcoin price recovered from 5K USD to 6,6K USD mostly because of the buyers from Japan.
We can't say the same thing about westerners.They keep BTC as long as they have profits.If the profits are gone,the westerners are gone too.The eastern mentality is more patient and resilient.
Anyway,I think that this article is advertising Bitbank.I've never heard anything about this exchange,so use it with caution.

[Twentyonepaylots]

Bitcoin not Safu haven, but People Seem to not Mind that

Not to promote this source bitbank, but according to them, the bloodbath or the recent bitcoin decline seem to be an opportunity for Japanese people to accumulate or buy more bitcoins. That is based from the number of people registering new accounts on the Japanese crypto exchange which is the bitbank.

Imagine, a 40 percent spike for the number of people is quite huge and KYC doesn't restrict that to happen. What does that mean?

For me, I know Japanese people's actions are so absolute and precise, they have huge discipline in many aspects that they take  and with regards to the recent market decline, I believe that they know what they are doing, and with that, accumulation of huge amount of cyptocurrency would be advisable for us to consider.

It's good to know that many Japanese people continue to believe in the power of Bitcoin,despite the crisis.
Perhaps the Bitcoin price recovered from 5K USD to 6,6K USD mostly because of the buyers from Japan.
We can't say the same thing about westerners.They keep BTC as long as they have profits.If the profits are gone,the westerners are gone too.The eastern mentality is more patient and resilient.
Anyway,I think that this article is advertising Bitbank.I've never heard anything about this exchange,so use it with caution.

For so many years, Japanese is known to be a respectful and discipline people they are really love what they are doing. The high percentage of new users in the bitbank exchange might be a panic, a panic that could trigger the bullish market. Just think of this, we are all sitting in front of the computer/smartphone feeling the possibility of a price hike in bitcoin then if these huge number of people starts to buy bitcoin then it might pull the bull out right? Although I'm skeptical about the KYC policy that they are having with it.

[Artemis3]

Bitcoin not Safu haven, but People Seem to not Mind that

Not to promote this source, but according to them, the bloodbath or the recent bitcoin decline seem to be an opportunity for Japanese people to accumulate or buy more bitcoins. That is based from the number of people registering new accounts on the Japanese crypto exchange which is the bitbank.

Imagine, a 40 percent spike for the number of people is quite huge and KYC doesn't restrict that to happen. What does that mean?

For me, I know Japanese people's actions are so absolute and precise, they have huge discipline in many aspects that they take  and with regards to the recent market decline, I believe that they know what they are doing, and with that, accumulation of huge amount of cyptocurrency would be advisable for us to consider.

You don't have to be Japanese to know that this is a great moment to buy bitcoin, ever since it went under 6k. I know i would have, i i had any fiat money to begin with...

In addition, Japan is one of the few countries that correctly stopped the virus, so for them like China that situation pretty much over (at least inside their country). Not taking this opportunity to buy things this cheap would be stupid to say the least.

As for KYC, Japan has had long those strict regulations in place, so its not like they haven't already done it, they simply didn't see the opportunity to get in, but now they do.

I have said so before: Even a global economic crisis, will NOT hurt bitcoin. Price fluctuation does not mean getting hurt. While the economies that are backing most fiat currencies may actually fail (ie. the rapidly USD losing value), bitcoin's purchasing power will not fall with them, they are not pegged unlike the "stable coins" who will follow fiat to the death. Bitcoin may have temporarily lost some value, but thats where it ends. It is fundamentally different to fiat and therefore unchained to the global economy crisis.

Anyway just because Japan does this, or does that, should not be an indicator of anything. Some of them were also fooling around with ripple before so they can make mistakes...