China accounted for about 85% of all bitcoin transactions

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The biggest problem with restrictions by other countries is that they can become an obstacle for bitcoin and cryptocurrencies. How bitcoin responds to state restrictions and whether we should worry about them On September 4, 2017, it was reported in the media that China had banned ICO (initial cryptocurrency offering), leaving the possibility for individuals to continue carrying out any operation with the cryptocurrency. A year ago, , but after a series of restrictive measures, its volume dropped to less than 15%. Traders reacted with indolence to China's decision, the quotes temporarily fell from the level of 4800 to the level of 4200 and close to reaching the August lows. LiteFinance: How fundamental factors influence the cryptocurrency exchange rate |  Litefinance The most influential traders reacted to the interruption of operations of the Chinese cryptocurrency exchange ВТСС on September 14-15.

This can also be seen in the graph. A similar situation occurred on July 25, when one of the world's largest exchanges VTCS stopped working. Then bitcoin lost about 20% of its value. This indicates that traders react more to practical problems with trading and transactions than to any restrictions. LiteFinance: How fundamental factors influence the cryptocurrency exchange rate |  Litefinance With the tightening of policy by Peru Mobile Number List  the Chinese authorities, bitcoin trading volume shifted to Japan and South Korea. South Korea accounted for about 30% of the cryptocurrency's trading volume, ranking third in this indicator. Already at the end of September, traders were waiting for the next blow, the ICO ban in South Korea. Although the country remains loyal to bitcoin, a ban is imposed on the emergence of new cryptocurrencies, as well as all types of loans in digital currencies. South Korea's decision on September 29 was almost ignored by traders, bitcoin's decline of 4% compared to subsequent growth is not serious.



Where the most active traders saw the news that Japan would legalize the cryptocurrency exchange and show loyalty to control over cryptocurrency trading. In April, Japan became the first country to equate bitcoin with fiat money. In the last week, bitcoin has grown exclusively in anticipation of the November fork. LiteFinance: How fundamental factors influence the cryptocurrency exchange rate |  Litefinance It is not far behind the countries of Asia and Russia. On October 24, Vladimir Putin ordered the government and the Central Bank to establish the requirements for the organization of cryptocurrency mining, and in the future to organize the registration of subjects engaged in mining. Previously, the Central Bank had already considered the possibility of taking the issuance and circulation of cryptocurrency in the country under its control. The cryptocurrency exchange rate did not react to this message.