Selling Pressure from Asian Investors Reaches An All-Time High

Recently, selling pressure from bitcoin investors coming from Asia has become significantly higher, especially compared with European and American investors.  Glassnode researcher, Johannes Hofmann, who has revealed on his Twitter that there is “an unprecedented amount of selling from Asia”, has provided information regarding this topic. 

 It has also been shown, from recent data, that bitcoin in Asia has been experiencing decrease.  The prices of Asian trading time and hours have most recently went down to $45,800 on December 13, according to Coin Metrics. 

 The times during which selling pressure from Asia has especially increased were during the months of November and December.  This pressure became even more pronounced when looking at price differences between American and European business hours. From the year up until now, each gain made by bitcoin has come from America (at a rate of approximately 60%), and come during the American hours of 8:00 am to 6:00 pm American Eastern time.

 Recently, many different Chinese exchanges have nearly given up, suggesting that their customers take out funds before services become entirely inaccessible throughout China.

 Samson Mow, Chief Strategy Officer at bitcoin development firm Blockstream, has confirmed that selling pressure has indeed been coming from Asian investors.  But he also relayed that he believed that this pressure would come to a close very soon.  “Sell pressure from China should ease up after year end,” Mow tweeted this past Monday.

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