As the new year approaches we see the bitcoin price action slumping from its 20k high just a week ago and struggling to make 16k. While many crypto investors are talking about the beginning of a new bear cycle we have to look east for factors that will weigh into the new period of BTC price action.
China and India have almost 2.6 billion people and if you count SE Asia then we are looking at over 3.5 billion. China, India, Japan, Korea and several other Asian countries are beginning to see bitcoin as a digital gold standard and a safe place to store value. SE Asian has seen a huge influx of new crypto investors and the largest daily mover of BTC is Japan. With so many new Asians coming into the crypto space and specifically securing BTC as a hedge against national fiat currencies and their centralized inflation controllers it is unlikely that a long term bear cycle is possible this winter and into early 2018. Even though bitcoin is choppy with ups and downs currently there are so many people in the East who are waiting to get a hold of the new digital gold that a bull cycle is a much more likely outcome. Post your comments below and please upvote.
source-
http://www.altcointoday.com/state-bitcoin-nation-india/