With events like SEC approval for Bitcoin ETFs and the introduction of cryptocurrency derivatives, it is easy to imagine the market being driven by news out of the United States. However, new research suggests that Asia, and not the West, is the dominant driver of Bitcoin price and cryptocurrency markets.
ASIA DOMINATES MINING AND CRYPTOCURRENCY EXCHANGE
To start with, Asia dominates both the mining and exchange landscape. Even with the crackdown by China, other places like Singapore, Hong Kong, Japan are hotspots for numerous cryptocurrency exchange platforms and related businesses.