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HomeStocks News“Spain is the fourth country in Europe with more confidence in criptomonedas”

“Spain is the fourth country in Europe with more confidence in criptomonedas”

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The criptomonedas are in the focus of many investors in these times of pandemic. Some have come to this universe to seek shelter in their portfolio, others to find the profitability that is lately not found in assets that traditionally were.

With the bitcoin very close to their historical highs, the co-chair and director of operations of the platform bitFlyer Europe, Andy Bryantspeaks with Invertia on the future and challenges of the sector. The evolution of the firm, which is a leader in trading with the criptomoneda queen in the japanese market that was born in 2008.

The uk argues that “regulation is fundamental to the future of the industry” and expected that steps in this direction contribute to their consolidation and diffusion. With the goal of becoming the world leader in blockchainthe platform features its own private network and proprietary: Miyabi.

– What has changed the global market for criptomonedas during the pandemic?

In march, there was a great impact reactionary initial in the market of criptomonedas, but since then things have gone to better. Unlike fiat currency, the criptomoneda is not linked to any government, company or organization specific.

The current recession has been like a light switch has been turned off, life can return to normal relatively quickly

In this sense, specifically, bitcoin is rare, because it has a total amount to be finite. Therefore, in times of destabilization, could be seen as a sure thing.

– Have you sensed a greater interest in these assets in the past few months?

As the coronavirus continues to prevail, it is possible that we may see a strong trend in the purchase continues of bitcoins for those looking for something outside of infrastructure controlled by the state, now unstable.

The bitcoin remains the criptomoneda most popular on the platform bitFlyer. This is not surprising, since that is the most well known.

– Did that come in now are looking for more trading opportunities or a refuge for the investment?

It is evident that the current recession has not been caused by a loss of productivity during a period of time gradual. Rather, it has been like a light switch has been turned off. With luck, once we move beyond the wave principal of the pandemic, life can return to normal relatively quickly.

The uncertainty in the world in general causes the market trends are more difficult to predict

In this intermediate phase in which we find ourselves, where the uncertainty is high, the fact that the criptomoneda is not directly linked to the state governments or central banks means that to a large extent disconnected from the socio-economic challenges today. This has generated a strong trend of buying bitcoin, as we are in a phase in which the purchase as a form of hedging.

– What is the situation of Spain compared to other european markets in the adoption of criptomonedas?

Spain is the fourth country in Europe with more confidence in the criptomonedas. The Confidence Index Cryptographic bitFlyer, which we estimate every year, shows a strong confidence that will continue to be in use within ten years. 68% of the respondents thinks so.

– In what sense is appealing to a european investor operating in the pair bitcoin/yen that recently offered by your platform?

To be able to do trading with the payment of bitcoin/yen (BTC/JPY) removes the barriers between the second fiat largest and the market of bitcoin to fiat most liquid in the world. Approximately, 20% of the volume of operations global bitcoin-to-fiat trades against the japanese yen.

The co-chair of bitFlyer Europe, Andy Bryant, near their offices.

The co-chair of bitFlyer Europe, Andy Bryant, near their offices.

This improves the chances of trading in a way that was not possible before. And with bitFlyer this is all done at the same time it is still using a regulated platform in Europe and a european account.

– What are the implications of the draft law approved by the Council of Ministers in these cross-border operations?

This has no impact on the ability of our customers to use our services. However, it is possible that the clients have to do their tax returns about criptomonedas if it enters into force. As a regulated financial institution, in bitFlyer we have always made a major effort to comply with all regulatory obligations in both your country of origin as in the other markets in which it operates.

That said, if there is any additional obligation to that bitFlyer to continue offering their services to the residents of Spain, will make all reasonable efforts to meet such requirements. Constantly investigate and monitor the situation.

– What is the portfolio average of their customers?

In Europe, the bitcoin is the criptomoneda that has the most userspurchased with euros. The bitcoin will follow the ethereumbut we have many customers who are doing trading with multiple altcoins (alternative currencies) different and we see this as a very positive trend.

– Are there differences between countries in what are the criptomonedas more negotiated?

Not really. The bitcoin is dominant in all the nations of Europe. Not the case that a given alternate currency to be more popular in a nation.

20% of the volume of operations global bitcoin-to-fiat trades against the japanese yen

– What forecasts handle for the price of the bitcoin?

We don’t usually give forecasts. We are a platform of trading that supports the market in any direction in which it is located. However, the investment adviser personal japanese Sho Koyama has recently written an analysis of the market for us in which he states very good expectations about the potential of bitcoin in 2020. However, the uncertainty in the world in general causes the market trends are more difficult to predict.

Regardless of how to evolve the market, bitFlyer will be to the height to ensure that our users can operate with confidence.

– What impact has had the last halving the bitcoin?

The halving of the new supply of bitcoin indirectly affects the demand, whenever people are competing to acquire an asset that they know will be more scarce. Therefore, after a halving, should we expect price increases to the extent that it reduces the offerbut in normal circumstances, the demand does not diminish.

However, there are many other factors that could influence the price, such as the levels of exaggeration (hype levels) before a halving and when this is the default, values that could take this into account beforehand. In the end, this process increases the volatility.

– With this scenario, in what countries is expected higher growth bitFlyer and with what products?

Currently, we cannot give any prediction in this regard.

Ryan Helton
Ryan Heltonhttps://etrendystock.com/
A Stock enthusiast since childhood, Ryan is known for his impeccable knowledge in the technology and gadgets niche. He has been working with eTrendy Stock as a contributor for most stock category and his articles are always well-researched and accurate.

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