blockchain technology asia

Cryptocurrency has become one of the hottest investments in the past several years, with prices jumping in the hundreds of percents. Regulators in the Asia Pacific have become increasingly uneasy with all these gains, and have begun to put regulation on cryptocurrencies such as bitcoin. The latest warning came from the Governor of the Bank of Japan, Haruhiko Kuroda, who stated that the surge in bitcoin price is abnormal.

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The comments he made are echoed throughout the rest of Asia and the region altogether. The worries from these countries are not unfounded either, there is probable cause to be unsure about such a new and tricky industry. Towards the end of November, Japan, South Korea and Vietnam all contributed more than 80% of the global trading activity for bitcoin. This is an incredibly large amount, so any disruption to this market could mean a disruption to the cryptocurrency market altogether. In recent times, prices of cryptocurrency have been marked by extreme amounts of volatility. The price of bitcoin has gone up as much as 1,500% this year, but prices quickly declined from this level.

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Many economists fear that any deep plunge in the cryptocurrency world may disrupt other financial markets as well. This seems to be one of the main reasons that so many are paying attention to the price action with eh various cryptocurrencies. Despite all of this, several of the largest players in the world financial market such as Goldman Sachs, and the CME Group, have begun to offer products relating to the cryptocurrency market. This ultimately should help prop the market up on some level of legitimacy, but since it is such a new industry, only time will tell. The hopes are high that the market can begin to stabilize throughout the end of this year, and for the years to come.


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