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A report published by Mosaic noted that the Asian region is exerting a major influence within the cryptosphere, despite China's continued repression of digital asset platforms. The study finds that Asian news events have a significant effect on the price volatility of BTC and underlines the growing number of cryptocurrency exchanges targeting Asian traders.
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Asian news events exert a significant influence on price
<img class = "alignright size-medium wp-image-264607″ title=”Report: Asian news headlines have a significant impact on cryptocurrency prices” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_726356515-300×200.jpg” alt=”Report: Asian news headlines have a significant impact on cryptocurrency prices "width =" 300 "height =" 200 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_726356515 -300×200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_726356515-768×513.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018 / 12 / shutterstock_726356515 -696×465.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_726356515-629×420.jpg 629w, https://news.bitcoin.com/wp-content / uploads / 2018 /12/shutterstock_726356515.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>The report states that the main Asian news events have a significant effect on the price fluctuations of BTC, estimating that since 2013 "11 major titles of the Asian region have been responsible for [BTC] price movements ".
The price changes that took place within 10 calendar days of these news events ranged from 0.5% to 57.5%, with an average price fluctuation of around 18.5%. At present, the average daily volatility of BTC has been around 5.5% over the last 30 days and 3.5% over the last 252 days.
The report also underlines the influence of Asian countries in the mining sector, stating that Asia is home to about two-thirds of the world's largest hahrate of BTC and 11 of the 17 largest oilfields in the mining sector. 39; hashrate.
A third of new exchanges in 2018 are based in Asia
<img class = "alignright size-medium wp-image-264618″ title=”Report: Asian news headlines have a significant impact on cryptocurrency prices” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1110634118-300×200.jpg” alt=”Report: Asian news headlines have a significant impact on cryptocurrency prices "width =" 300 "height =" 200 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1110634118 -300×200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1110634118-768×512.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018 / 12 / shutterstock_1110634118 -696×464.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1110634118-630×420.jpg 630w, https://news.bitcoin.com/wp-content / uploads / 2018 /12/shutterstock_1110634118.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>According to the report, of the 37 grants launched in 2017, 20 were recorded in Asian countries. The most sought-after jurisdiction was Singapore with eight new crypto exchanges, followed by Hong Kong with four, and South Korea and mainland China with two each.
However, the Mosaic notes that the proliferation of new trade in the Asian region may have been boosted by the Chinese crackdown on virtual currency exchange platforms, highlighting a slowdown in the number of new Asian exchanges during the first half of 2018. Of the nine grants identified by the report that was launched in 2018, only three registered in Asia, with mainland China, Hong Kong and Singapore hosting a single new bag each.
Mandarin is the second most supported language through cryptographic exchanges
<img class = "alignright size-medium wp-image-264612″ title=”Report: Asian news headlines have a significant impact on cryptocurrency prices” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1014478300-300×169.jpg” alt=”Report: Asian news headlines have a significant impact on cryptocurrency prices "width =" 300 "height =" 169 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1014478300 -300×169.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1014478300-768×432.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018 / 12 / shutterstock_1014478300 -696×392.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1014478300-746×420.jpg 746w, https://news.bitcoin.com/wp-content / uploads / 2018 /12/shutterstock_1014478300.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>The report states that at the end of July 2018, there were 86 exchanges of cryptocurrencies hosting live BTC pairings. They have been found to support 24 different languages, nine of which are Asian – including Mandarin, Korean, Japanese, Cantonese, Vietnamese, Thai, Hindi, Indonesian and Malay.
Mandarin proved to be the second most supported language, with 65% of the exchanges supporting Mandarin as the default or secondary language on their platform. English was the most commonly supported language among trades, with 97%. The Korean was the third most supported with 33%, followed by the Russian with 30% and the Japanese with 23%.
Do you think that Asia is the region with the greatest influence and impact on cryptocurrency? Share your thoughts in the comments section below!
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