Countries with large amounts of virtual currency transactions such as China, Japan, Korean and India with the increasing trend of many brands continuing to expand their payment operations in Bitcoin, this currency will rise to a peak of $ 20,000 in 2017.
However, recent bad news from Asian countries Bitcoin price is going down very fast. Yesterday bitcoin price continues to fall deep down to 8,200$ and possibly more.
In particular, China and India have a great influence on the BTC currency because the number of bitcoin traders is huge
The decline in bitcoin prices due to news from China happens quite often. This can be a constant source of unrest and frustration for people holding bitcoin in the long run. News from other countries also has an impact on bitcoin prices. One of the most notable examples is the destruction of Mt Gox ... It is used as one of the largest bitcoin exchanges in the world operating from Japan, there are many factors that play a role, but most importantly most of the trading volume and bitcoin power mining are concentrated in China. Bitcoin, as a technology, is designed to operate in a decentralized way. That means that no central authority can make decisions on behalf of all network users.