At press time, bitcoin has recovered to $8,100 after trading between $7,900 and $8,000 24 hours ago. One of the primary reasons for yesterday’s $400 drop may be Kraken’s recent announcement that it was pulling out of Japan. The San Francisco-based cryptocurrency exchange previously entered the country’s digital currency arena to assist Mt. Gox, the infamous trading platform that declared bankruptcy after losing nearly half-a-billion dollars in BTC. Kraken officials have stated that operations within Japan’s borders are too expensive, and are pulling the plug on its business ventures there. Japan serves as one of the world’s largest bitcoin andPowered by WPeMatico
