American Traders Triumph Over Their Asian Counterparts On This Year’s Bitcoin Bull Market
Recent data and reports suggest that Asian traders are not as bullish as their American mates.
With Bitcoin currently going at a price of 9362.70 USD at the time of writing, competition among traders is only but going to be stiffer worldwide. However, as reports indicate is that in the recent months, Asian bitcoin trading has been on the low as compared to American trading. Indications from this year’s bull market suggest that apart from a short stint in April this year when Bitcoin saw its prices spike up during Asian trading hours, at no other point in time this year have their prices been higher than those of the Americans. Asian trading has with no doubt been lagging behind in the game.
In the graph below comparing changes in the daily Bitcoin price, it can evidently be seen that Asian trading has mostly seen its prices falling. It is notable that the Bitcoin price gains together with major Asian bounce backs took place during American trading hours. If we could for example geographically compare the daily percentage price gains of different time zones globally, it is very noticeable that during the Asian trading hours, Bitcoin has not really made a big impact except during American trading hours.
In conclusion, Bitcoin is an asset whose global prices are always changing every other day and this is due to its ever-growing demand from the crypto enthusiast community. The pricing mechanism used however is far much determined by the geographical location. By means of personal accounts, it evidently seems that the Asian traders have rather gone ahead and taken the back seat watching their aggressive American counterparts run the show. The Americans are much quicker in buying.