Covid-19 has impacted the world globally recently. The impact has been drastic in all sectors, especially on crypto traders in Japan. As per the sources, the number of active crypto traders in March’20 is less as compared to earlier months. Let’s find out the reason for the deflated trend in crypto trading in Japan.
Identified Issues: –
Due to spike in fiat deposits, crypto trade exchange was less as compared to the previous trend
Covid-19 pandemic impacted a lot in the curve with 3695 less crypto accounts in March’20
Pattern swift in trade accounts in fewer crypto accounts
Reverse Effect in Deposit:-
Although crypto accounts were less in the month of Mar’20, still the fiat exchanges have been spotted in inflated trends. As per Yuga Hasegawa, market analyst, the deposits could not stay for a long due to the unprecedented situation of COVID-19.
We have also seen that Prime minister of Japan, Shinzo Abe has declared an emergency due to the corona pandemic. It is evident that most of the investors have withdrawn their funds from crypto exchange to get the hard cash for quick use and availability.
Don’t be surprised with the current pattern as the Japanese government is trying hard to equalize the demand and supply mechanism at their best.
Still, Interested in trading?
“Hard times comes with the opportunities”, it’s a well saying. People are still trading in cryptocurrencies with calculated risk. Indeed, the volume has gone down less in March’20, however, the Japanese are still showing interest in trading to invest & secure their funds.
Let’s see how the trend would hover in the upcoming months for Japan.
Market analysts are speculating a great shape of trade for Japanese.
Stay tuned for the latest buzz on the page.