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| December 11, 2017

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N. Korea Says Kim Climbed Mountain in Dress Shoes

December 11, 2017 |

It’s a little bit like a joke with several punchlines. Kim Jong Un climbed a mountain and … didn’t so much as scuff his black leather shoes. Or … was covered by the press as being able to control the weather. Those are two of the unusual headlines to pop up after…
Newser

Bitflyer CEO Says Japan and Leverage Is Leading Bitcoin Markets Higher

December 11, 2017 |

Bitflyer CEO Says Japan and Leverage Is Leading Bitcoin Markets Higher

Bitcoin’s value is higher than ever before, and the Japanese yen has been the top currency used within bitcoin’s global trade volume over the past year. According to the CEO of the Tokyo-based trading platform Bitflyer, Yuzo Kano, the current bull run is being bolstered by market movers utilizing leverage.   

Also read: This App is Trying to Predict the Bitcoin Bubble Bursting Using AI

Bitflyer CEO Believes ‘Japan Is Leading the Market Higher’

Bitflyer CEO Says Japan and Leverage Is Leading Bitcoin Markets Higher The price of bitcoin has been on fire in 2017 gaining new all-time highs month after month. Every day global exchanges are swapping billions worth of bitcoin, but one particular exchange from Tokyo has been dominating the pack. Bitflyer created in 2014 by Yuzo Kano is one of the world’s top exchanges and usually captures the second and third position among exchanges globally. The Japanese yen has also been dominating the world’s trade volume and at times can be over 60 percent of global BTC trades. At the moment the yen is leading by 42 percent ahead of the U.S. dollar, and the euro. According to Mr. Kano, lots of Japanese traders are fuelling the market by purchasing with leverage of up to 15X based on their initial deposit.

Mr. Kano details in an interview with the Financial Times that a significant amount of demand is stemming from large holders and Chinese mining organizations.

“People who’ve owned them for a long time and have made a fortune — They have ¥10bn, and they’re selling a little,” explains Kano.

I think Japan is leading the market higher

Bitflyer CEO Says Japan and Leverage Is Leading Bitcoin Markets Higher
This week the Japanese yen is dominating bitcoin’s global trade volume by 40-48 percent. At times the currency has commanded over 60 percent.

‘No Matter How Big the Position We Can Close It Out’

Bitflyer CEO Says Japan and Leverage Is Leading Bitcoin Markets Higher
Mr. Kano the CEO and founder of Bitflyer believes Japan is leading the global demand.

Out of all the Japanese exchanges, Bitflyer captures the lion’s share of BTC volume compared to other operations within the country. According to global statistics, Bitflyer captures over 70-80 percent of the country’s share of volume at any given time. A few times this year Bitflyer and other trading platforms have also seen far higher prices than the global average. Last week when the price came close to the $ 17K range, Japanese exchange prices were $ 1,000-500 higher. Bitflyer’s options and leverage markets trade bitcoin at 75 percent in derivatives and 25 percent BTC which Mr. Kano says is fueled by frequent traders and arbitrageurs.

Even though leverage markets are dominating Mr. Kano’s explains in his interview that he doesn’t fear the risk of a significant market panic which could suck up actual liquidity.

“We have a huge amount of liquidity. No matter how big the position we can close it out. If bitcoin rose 20-fold in a day, then I don’t know. But a day with a 30 percent fall would be no problem,” Mr. Kano emphasizes.

Margin trading and leverage options have been growing increasingly popular over the past few years, and when China dominated the markets, they also dealt with a lot of leverage positions. Mr. Kano also reveals Bitflyer is aiming to cater to U.S. investors and hopes to attract them with the company’s significant liquidity. The exchange recently was approved to receive the Bitlicense in New York and will tend to U.S. customers with its latest cryptocurrency exchange venture.   

What do you think about Mr. Kano saying that bitcoin markets are being pushed higher by leverage and arbitrageurs? Let us know in the comments below.


Images via Shutterstock, and Bitflyer. 


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Bitflyer CEO Says Japan and Leverage Is Leading Bitcoin Markets Higher appeared first on Bitcoin News.

Bitcoin News

CNN

Cathay Pacific crew saw North Korean missile from plane, airline says

December 11, 2017 |

The crew of a Cathay Pacific flight from San Francisco to Hong Kong saw what they believed was a North Korean ballistic missile re-entering the Earth’s atmosphere last Wednesday, the airline said Monday.
CNN.com – RSS Channel – World

Serial Killer Says Cops Haven’t Found All His Victims

December 10, 2017 |

A South Carolina man convicted of killing seven people says he has more victims who have not been discovered. The Herald-Journal of Spartanburg reports that, in an eight-page letter, Todd Kohlhepp wrote that he tried to tell investigators and informed the FBI, but he said “it was blown off.” He…
Newser

California Governor Says Fires Are the ‘New Normal’

December 10, 2017 |

California Gov. Jerry Brown says deadly and destructive wildfires in winter are “the new normal.” Brown on Saturday toured Ventura County neighborhoods ravaged by a weeklong wildfire that killed at least one person and destroyed hundreds of homes and other buildings. At a news conference, Brown said drought and climate…
Newser

CNN

‘Time is of the essence,’ UN envoy says after visit to North Korea

December 10, 2017 |

Tensions on the Korean Peninsula are the world’s most dangerous security issue, and must be resolved fast and diplomatically to avoid war, a top United Nations envoy said after a rare visit to North Korea.
CNN.com – RSS Channel – World

Yankees set to acquire Giancarlo Stanton from Marlins, report says

December 9, 2017 |

After helping the New York Yankees to five World Series titles, Derek Jeter might help them win another.
FOX News

Kenya president says no talks with defiant opposition leader

December 9, 2017 |

Kenya’s president is ruling out dialogue with the opposition leader who boycotted the recent election and plans a mock “inauguration” next week.
FOX News

TMZ

DJ Mustard Says He Had No Clue Friend Brought Gun to LAX

December 9, 2017 |

DJ Mustard showed up at LAX Friday night with a friend who got arrested for packing a loaded gun in his carry-on, but DJ Mustard says it was all news to him.  TMZ broke the story … Mustard and his pal were both detained after TSA found a…

TMZ.com

Disney music executive charged with sexual misconduct, report says

December 9, 2017 |

A music executive at Disney was charged Wednesday for alleged sexual misconduct with a child and has been suspended from work without pay, Variety reported.
FOX News