Participants from the West are purchasing the same dump that Asians are selling of cryptocurrencies.
Ever since the introduction of Bitcoin, the first cryptocurrency, more and more ventures have rapidly emerged, each offering investors unique benefits or purposes. While some alternative coins advertise unmatched transaction speeds, others assert to have the lowest costs.
Other coins, such as the privacy-focused altcoin Monero (XMR), provide complete secrecy and airtight security. For consumers who have serious concerns about cybersecurity, Monero is a great coin because XMR transactions done through a specially encrypted Monero wallet are purportedly entirely anonymous and untraceable.
Fuel is being given to one specific speculation during fund switching: Asians are selling crypto, yet Western investors have been buying the same dump during the eastern trading hours.
According to Metrics, the best times to invest in cryptocurrencies on the Bitcoin Network are during European and American business hours. It is believed that American investors use the services in the morning, whereas European investors hold off until later in the day.
Analysts have noted a decrease in the proportion of activity that occurs during Asian hours. The apparent decline in Bitcoin adoption in Asian markets began about a year ago, coinciding with China’s crackdown on cryptocurrency mining.