Bitcoin Trading Booms, Set To Spike in Japan As Regulation Improves

The push for the next spike in Bitcoin price could come from Japan very soon. More exchange traders are joining the bandwagon and the market outlook says there has been a rise in the value amount of Bitcoin traded after the first half of this year.
Following a market research in July, BitFlyer says its virtual currency exchange has the largest Bitcoin trading volume in the first half of 2016 across Japan as it made a 200,000 registered users breakthrough in June.
It says about 7.8 million bitcoins (worth about 430 billion yen) was traded within the January and June period in Japan and touts itself as the holder of the number one spot having accounted for 37% share of the market.
Future uptake imminent
Market research firm Seed Planning estimates the Bitcoin’s annual trading volume will soar to 2 trillion yen this year.
“We have noticed a trend where investors who previously traded foreign currencies on margin take up bitcoin trading,” a company official said.

This post was published at Coin Telegraph on 2016-08-17.

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