3 countries that have the biggest impact on Bitcoin value

3 countries that have the biggest impact on Bitcoin value

Every country is interested to invest more in Bitcoin but the countries like USA, China and South Korea are investing more in trading of Bitcoin in the year 2017. Talking about USA and China there is rules regarding the trade of Bitcoin but in South Korea/ Japan till to date there are no rules for trading Bitcoin. It is expected to have strict rules in near Future.

1. Impact of USA on Bitcoin Value

When we talk about the leading countries that have impact on the Bitcoin value the first among them is The United States of America with leading with the percentage of participants with 32% including trade exchanges, wallets, payments and mining setups.

The researches show that there is a massive variation in the usage of Cryptocurrency across the country. The report of Boston Federal reserve has estimated that the users who own Cryptocurrency have used the Bitcoins for the transaction purposes with the span of 12 months and it was reported in 2016. Whereas the Coinbase/ ARK invest, almost 46% of users used Bitcoins as a mode of transaction at least one annually.

Mining bitcoins in USA
Mining bitcoins in USA

The Cryptocurrency is still establishing where it will complete its 10 years the next coming year in 2018. It is struggling to be made as a normal mode of transaction. But there are many markets and medium that is not accepting Cryptocurrency as a regular mode of buying and selling.

This is happening because the Cryptocurrency is volatile with the price fluctuations due to supply and demand. It is not governed by any legit or government organization that has a regular check and balance on the rate of return. The digital marketers are working on the accepting of this digital currency that can operate worldwide. Still the price of Bitcoin is determined by US Dollar.

2. Impact of China on Bitcoin Trading:

The China is the closest participant after The United States with the percentage of participants 29 percent. After that the third country is United Kingdom come with the participants 16 percent. That is the fewer amounts but definitely it is rising the percentage will increase with more participants and investors. China has the biggest impact on the trading of Bitcoin because it has more exchanges and is technologically savvy country. China is one of the leaders because it has massive miners. The wallets for the Cryptocurrency has been increasing from 5.8 million to 11.5 million that are currently active and working.

Mining bitcoins
Mining bitcoins

The China and the Bitcoin Traders

China is a country that has remarkable achievement in every field of life. It has also excelled in the field of digital trading. China has leading exchanges in which the biggest volumes of Bitcoins are being traded digitally on daily basis. The miners are the ones who gets Bitcoins by doing the transaction and China has the majority of Miners with their farms that provides security to the transaction and its validation.

Chinese traders of Bitcoin exchange have led a major impact on digital currency development, marketing and trading. There has been increased employment opportunities in Bitcoin exchanges of China which is marked a healthy sign for economic development of the country. Some employees are working as full time employees and some are working as part time workers. Mostly the workers who are working as full time belong to the Asia Pacific and followed by North America and Europe.

3. South Korea

South Korea is also one of the countries that making impact on Bitcoin value. Remittance companies are already using and mining it at a large scale that has significant impact on Bitcoin value.

Some important factors that may effect on Bitcoin Value are:

Licensing:

The license is very important in legit existence to any work especially when we talk about the money or Bitcoin exchanges. According to the different reports it is concluded that out of 100% the 52% of small exchanges have owned the government license as compared to 35% of large exchanges.

The Asia Pacific is the region where 85% of the exchanges that are not registered through the security of transactions can be questioned anytime. When we talk about the region of North America 78 percent of the exchanges are legally registered that is why this region has the most impact on the buying and selling of Bitcoin. The exchanges that are registered in Europe are 43% and while we talk about Latin America the percentage is 47%. The formal licensing of the exchange does not matter much as most of the China based exchanges are not registered much.

The Bitcoin Exchange Trading Funds will help the fund’s manager, the Bitcoin stock managers or any other person that trades Bitcoin. Now a day when a person has to buy the Bitcoins that person needs to sign up on the exchange and transfers the money from the bank account and that is how he can buy the Bitcoins. They are always worried about the transactions as there are miners and risk to security as well.

Currencies and their liquidity with Cryptocurrency

The liquidity of any currency is the major concern for any investor. The same is required for the Cryptocurrency and its value in the market. When we discuss the matter trading of a currency there is definitely a huge gap from the top currency to the low and the lowest currency exchange rate. The US dollar as The United States being the leader has the most acceptability in buying and selling of Cryptocurrency.

The British Pound and the Euro has also a lot of popularity in the trade while Chinese Renminbi has the highest exchange rate with the Bitcoin over the years from 2014 to the year 2016 that compiles the range of almost 50 percent to 90 percent. The People’s Bank of China passed strict rules in the trading of Bitcoin that has caused in the denomination of Chinese Renminbi (CYN). The local market exchanges are working in the popularity of Bitcoins so more and more people can come in the digital transaction that can make the digital media up to date and well maintained on regular basis.

But with the help of ETF, if a person wants to buy the Bitcoins, he can complete the transaction by a single click and an edge fund manager will order the Bitcoins of millions of dollars. There are two ETF are working hard to get legal approval. The new Bitcoin funds will make purchasing of Bitcoin easy and secure and will make the transactions interesting especially for investors.

The new software has unleashed the price of Bitcoins in the digital market. The software Bitcache is new software that works for the file sharing with peer to peer that is created by Kimdotcom. The users who will upload the files and share them, the software Bitcache will be using Bitcoins to compensate those users instead of fiat money.

Kim Dotcom
Kim Dotcom

Sum Up:

As the number of users of Bitcoin increases, the value of Bitcoin would be affected. This impact shouldn’t be confined to three countries. Owing to great influence of Bitcoin value in United States of America, China, South Korea, North Korea, India, Russia and many other countries, daily trade volume in exchanges of these countries are estimated in billion dollar worth of Bitcoins.

This digital currency has been trading on same foot as other currencies daily trading activities are taking place. The buying power of Bitcoin is determined as exactly the same way the buying power of dollar Euro British pound is determined through the forces of supply and demand in international liquid market operates round the clock. Hence, after few years no country would left behind without a substantial impact of Bitcoin value.

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