Published on September 17th, 2017 | by bitcoin0
Traders Leaving China As Japan Takes over as the Largest Bitcoin Market
Japan has once again become the largest Bitcoin exchange market with 50.75 percent market share of the global Bitcoin exchange market.
Analysts including BitFury Vice Chairman George Kikvadze attributed the surge in the trading volume of the Japanese Bitcoin exchange market to the exit of Bitcoin traders in China.
China less than 7% pic.twitter.com/t7YRaL5jv3
— Joseph Young (@iamjosephyoung) September 17, 2017
US market benefits
Prior to the nationwide Bitcoin exchange ban by China, the US exchange market had consistently secured its position as the largest market in the world.
I hear the Decred Project team has something cooking that helps with that.”
As Lee emphasized, the exit of the Chinese Bitcoin exchange market should really only have affected around 10 to 15 percent of traders in the global Bitcoin exchange market.
It is likely that as Lee and Draper noted, the closure of the Chinese Bitcoin exchange market could lead to the stabilization of the global Bitcoin exchange market, which may be beneficial for Bitcoin in the long run.