For the last few days Crypto has been on a bull run. Its an exciting time to be involved in this space and I am sure the hype will attract a lot of new followers.
- Steem was over 1 dollar today. As I write the Steem dollar is still close to 2 dollars.
@son-of-satire wrote a great post yesterday about investment returns since the beginning of the year, well worth a read if you haven't seen it,
- https://steemit.com/crypto/@son-of-satire/how-much-profit-have-cryptocurrency-investors-made-in-2017
How long will the bubble last or are we on our way to the moon?
This is the million dollar question literally!
Location of Exchanges
Just because something is traded on an exchange in a particular country does not mean the person trading is from there but I find it very interesting that all the trading in Bitcoin is coming from America, and mainly from Poloniex.
There is also notable trading on South Korea and UK exchanges but not as much trading on Japanese Exchanges as I was expecting to see, after all perceived wisdom for one of the reasons for the pump in Bitcoin has been the changes in the Bitcoin Regulations in Japan.
New Money
When I was new to Crypto I opened an account at a relatively local exchange to deposit my cash. If there was a lot of new money coming into Crypto from Japan I would expect it to be be reflected in the profile of trading volumes from that region.
The following graph shows Bitcoin volumes on exchanges around the world for today, taken from coinmarketcap.com.
Altcoins
Does this global pattern of Bitcoin volumes signal that the price pump is being driven by money sloshing around from altcoin to altcoin, rather than new money. What do you think?
Thank you for reading this. I write on Steemit about Blockchain, Cryptocurrency, Travel and lots of random topics.
All Images are from my personal library.
The fact that Japan is the 3rd largest economy in the world should ensure continued growth in bitcoin interest.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think the price rise is driven by speculation. If it was a result of the interest from Japan would you not expect to see larger volumes in Japan? I would expect new money coming into Bitcoin would be mainly via local exchanges.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Fair point! Just looked at the fiatleak.com site mentioned below, seem to verify this.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Check out fiatleak.com
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That is a pretty cool website. Thanks for the link.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It shows what the real issues are... who wants to be left holding the bag of worthless paper.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think more money needs to come into this space but there is a lot of potential. We are just beginning to see real sustainable I use cases.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Germany doesnt even appear on the list... That's because the mainstream media is publishing statements by the central bankers advising against investments in bitcoin to preserve wealth/value.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I have compiled the list of countries for the exchanges from sources I can find. Is there a German exchange? I don't have any on my list.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit