Bitcoin Beats XRP for the First Time in Japan
The Japanese crypto trade association found that the yen values of Bitcoin holdings on national stock exchanges for the first time exceeded those of XRP. This result shows that the strength that Bitcoin gained in the cryptocurrency market during this year has made it better known worldwide, even in Asia. As a result, there has been an increase in the volume of BTC investments in the continent.
When Bitcoin reached $14,000 this year, investors in Japan began paying more attention to the asset. Therefore, the volume of negotiations with cryptocurrencies was increasing in the country. On the other hand, XRP, which was a high-trade altcoin in Asia, was left in the background until it reached the BTC domain framework.
Many analysts have noted that the level of Bitcoin dominance in the Asian market has steadily increased. Historically, the value of XRP had exceeded that of BTC in Japan in December 2018, with a subsequent domain period of eight months. Now, the entire market has been paying attention to recent asset movements, which remain in a very optimistic perspective, especially for this month.
XRP continues to accumulate in Japan, and still shows that it has enough strength in the country as a cryptocurrency. With the recent insertion of Bitcoin securities in Japan, there is a possibility that the asset can grow even more globally, especially with the support of the Asian market. It is important to keep in mind that BTC dominates cryptography with a large percentage, and any momentum in its favor reveals interesting perspectives worldwide.
In the case of Japan, the highest peak of Bitcoin values in the country was in June. However, with this recent scenario it may indicate a change in asset prices in the country already in the short term. Within the global context, BTC has very interesting perspectives for this month. If they materialize, a significant new momentum is expected for cryptocurrency worldwide, which should also be reflected in Asia.
Since the beginning of this week, Bitcoin has been showing an image of instability, and a devaluation chart below five digits is imminent. At this time, the asset is falling, struggling to stay in the $10,000 range. However, what many analysts estimate is that in the next few hours the BTC is expected to have a price drop that could reach $ 9,750. XRP is in the top 5 crypto in 2019, and its growth projection is going well.
Get the latest in Asian Bitcoin news here at Coin News Asia.