The price of bitcoin has exceeded 1,000,000 yen

The price of bitcoin has exceeded 1,000,000 yen

Yesterday, the price of bitcoin has set a new record and are very close to the level of $ 10,000.

For most markets is a serious psychological barrier. However, in Japan, whose market share is approximately 60% of the world total, yesterday was a no less significant event. The price of bitcoin for the first time exceeded 1 000 000 yen. And this, in General it is quite logical if to consider that in Japan, the growth in price of bitcoin.

The price of the cryptocurrency the number one growing steadily since the fall of 2016, but in April the news that Japan has officially recognized bitcoin as a legal means of payment will definitely help bitcoin to break new price records. After the abolition of the 8% consumption tax for transactions with bitcoin, Japan has made the cryptocurrency the number one more popular.

Growth

The increase in the price of bitcoin is due to the growing popularity and integration in the main financial markets. Japan is no exception – here too, more and more companies and financial conglomerates begin to somehow use bitcoin.

In fact, the ban of China on the cryptocurrency exchanges made Japan a world leader in bitcoin market. Starting in September and continuing to date, the majority of trading on bitcoin was denominated in Japanese yen. At the time of publication of article 59.6% of all bitcoin transactions globally have been committed with the participation of the Japanese yen.

China dominates the bitcoin trade for many years, but now it is obvious that the leadership belongs to Japan. What is happening in the Japanese markets, has a strong influence on all other markets. The continued growth of prices in Japan, as evidenced by the current price of $ 1 084 000 yen, deleteroute 10,000 dollars in Western markets is almost inevitable.

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