Why Is Asia The Driving Force For Crypto Fever?


This Wednesday evening, above a shop near the financial district of Tokyo, a meeting room quickly filled up with traders of cryptocurrency or people interested in the prospects. Some of these were salarymen who were just out of office, there was a grungy student and several suburb housewives were present too.

All of them were a bit-curious and they were there for one of dozens of educational seminars that were being held across Japan each week for educating people about Bitcoin and various other cryptocurrencies. The audience mainly were people who were tempted, baffled or just skeptical of the crazy rise in the cryptocurrency market.

Similar booms are establishing the dominance of Asia in the cryptocurrency theme all across the continent. These seminars and trading meetups are whipping up aspirations in investors and some analysts also say that they are producing measurable effects on the actual mainstream markets as well.

There have been attempts of curbing this enthusiasm like the ban on cryptocurrency exchanges by China in September but the craze is still on the up and up. Chinese devotees have either moved their business offshore or shifted to a peer to peer network option.

Many people like CEO of Gatecoin, a bitcoin and ethereum exchange in Hong Kong, Aurelien Menant have praised the adaptable nature of Asian cryptocurrency trading. He said that as the price in South Korea and Japan is higher due to local demand, people from those countries are coming to Hong Kong to get a better price for bitcoin.

There is still a lot of concern about the functionality and futures of bitcoin and other cryptocurrencies and the fact that it is an unregulated currency. Even with those concerns, people haven’t stopped investing in this highly volatile market and earned loads. It seems most of them are from Asian countries which is why it is safe to say that Asia is the driving force.

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