Asian Stock Market Profit Taking Is Positive For Bitcoin

As the Asian stocks continue their downwards descent, Bitcoin becomes all of the more appealing to consumers and investors alike. Earlier today, the Asian stocks retraced again, while the dollar has been surging. Traditional investment opportunities remain subject to massive volatility, and there is a lot of profit taking going on every single day.

To put this into perspective, there is still a lot of profit to be made when dealing with the Asian stock market. That being said, a lot of people are scalping profits at a very early stage, as they would rather take small profits compared to waiting weeks or months for a big payoff.

Traditional Investment Markets and Profit Taking

With the Nikkei losing 2.2% this week, things are looking a bit bleak in Japan. Then again, the country is seeing a surging interest in Bitcoin, which may indicate consumers and speculators are looking for alternative forms of investment. Or the could be hedging against an uncertain financial future.

China is seeing slightly better results, despite the CSI 300 index dipping today. With a 1.7% gain for the week, things are looking good. However, people

Read more ... source: LiveBitcoinNews