I can’t believe what I am seeing right now but there’s a huge spread between BTCJPY and BTCUSD.
Earlier this morning JST time around 5AM, Japanese with Chinese were attacking short whales and made the price of bitcoin to break through 2000USD mark by force. As a result, they succeeded but left this huge spread for us. I know some of the people will say it’s the JPY less valuable than it is in the forex market due to liquidity issues, such as the difficulty of sending money back to where you live. But every time the price premium goes high, it drops at some point very soon after that and I assume no exception for this time. Imagine making 300$ US dollars for each bitcoin and all you have to do is to simply send it to Japanese exchange and sell.
And here comes the question, some of you would ask that how am I supposed to transfer it back? I’ve got to have a bank account in Japan right? Well in fact, you can make money without it. HOW??
The answer is simply wait for this premium to go away, but in my experience, the premium will not go away completely, it usually drops to 1% to 3% depending on the circumstances. For most of you, this is not an infinite loop, but just think about this, there will be opportunities like this in the future as long as the trading goes on for bitcoin. Once the premium goes away, send it back to your home country and wait for the next.
Thank you for reading
