Bitcoin, Japan speculates on the upside: Deutsche Bank clarifies the latest cryptocurrency movements.
According to a recent report by Deutsche Bank, it is the Japan the main "person in charge" of the extraordinary upward pressure of the bitcoin prices.
After the China has closed bridges (or, at least, part of them) to the world of criptovalute, Japanese interest has suddenly increased, so much so that in recent times the 40% of all transactions carried out in Bitcoin have been identified in Japanese yen.
Tokyo and bitcoins
In short, with a little analytical simplification, it is perhaps not wrong to say that it is Tokyo to push the quotations of the bitcoin or, at least, to want to bet more than others, with greater insistence, on the speculative increase in its prices.
Not only: Deutsche Bank has in fact tried to trace a possible identikit of the average (retail) investor in Japan, discovering that these are men generally aged between the 30 and the 50 years and - to a partial surprise - certainly not in possession of a high financial culture, as if to confirm the fact that a segment with so many promises of performance has ended up with to bring closer to it people who probably have not well understood, with awareness, what are the dangers of a speculative trading in bitcoins.
Bitcoin could send banks into crisis
The statements of DB arrive, moreover, almost in conjunction with those of the Israeli Prime Minister Netanyahu, who went so far as to state that the cryptocurrency boom could undermine the entire system of traditional banks, considering that the blockchain could replace the presence of an intermediary actor in carrying out the transactions.
Will it really be like this? When in doubt, just a few minutes after the Israeli prime minister's declarations, Bitcoin quotations resumed their breath ...