Topic: Bitcoin's Price Is Behaving Sticky - page 3. (Read 913 times)
They're basically switching from one platform to another... That'll be their lifesaver 'till the government ban that webpage.
The exchanges are closing very soon so keeping them will only mean that you want them to take your bitcoins so It's very normal to see less volume. I could be wrong but just because the trading volume went down doesn't mean that it vanished. If bitcoin was profitable for them, they wouldn't just leave and If you see the charts here: https://coin.dance/volume/localbitcoins/CNY you will how P2P trading using Localbitcoins skyrocketed in China, and it will definitely continue to.
China now officially now has very little influence on the price. ha ha. Just goes to show you can not stop a decentralized currency. you can barley slow it down.
Interesting stats:
http://www.investopedia.com/news/bitcoins-price-behaving-sticky/
BTC volume in China went from 90% to 4.5%. I'm surprised that BTC price hasn't dropped more.
http://www.investopedia.com/news/bitcoins-price-behaving-sticky/
Quote
Currently, the Japanese yen accounts for 47.3% of BTC volume by currency, followed by the U.S. Dollar with 32.52%, which adds up to almost 80%. China's share, which was hovering around 90% levels a year ago, is now condensed to 4.54%. While the South Korean won and euro are at 7.34% and 4.85% respectively, according to cryptocompare.
In terms of exchanges, Bitfinex (BTC/USD) commands 11.57% of trading volume, followed by bitFlyer (BTC/JPY) at 4.48%, Bithumb (BTC/KRW) at 3.97%, Bitstamp (BTC/USD) at 3.84% and Bittrex (NEO/BTC) at 3.64%, according to coinmarketcap.
In terms of exchanges, Bitfinex (BTC/USD) commands 11.57% of trading volume, followed by bitFlyer (BTC/JPY) at 4.48%, Bithumb (BTC/KRW) at 3.97%, Bitstamp (BTC/USD) at 3.84% and Bittrex (NEO/BTC) at 3.64%, according to coinmarketcap.
Quote
The prices of cryptocurrencies have corrected due to the China crackdown. This in some ways has brought confidence in the markets as it lowered the perceived importance of the country to some extent. However, the range-bound movement in the markets is indicative that investors and traders are still looking for some clues before making the next move.
BTC volume in China went from 90% to 4.5%. I'm surprised that BTC price hasn't dropped more.
This is great news. No more china manipulation, bright future for btc
Yea even I am surprised to see the prices aren't going any down that is actually better for us. Seems the prices won't fall down anymore.good to see that bitcoin prices are gaining momentum once again. But let us see when would the prices again reach 4700-4800 dollars like it was before the whole China scenario happened. 1 Btc is something 3900$ when I checked a while ago.Hope it skyrockets again.
Interesting stats:
http://www.investopedia.com/news/bitcoins-price-behaving-sticky/
BTC volume in China went from 90% to 4.5%. I'm surprised that BTC price hasn't dropped more.
http://www.investopedia.com/news/bitcoins-price-behaving-sticky/
Quote
Currently, the Japanese yen accounts for 47.3% of BTC volume by currency, followed by the U.S. Dollar with 32.52%, which adds up to almost 80%. China's share, which was hovering around 90% levels a year ago, is now condensed to 4.54%. While the South Korean won and euro are at 7.34% and 4.85% respectively, according to cryptocompare.
In terms of exchanges, Bitfinex (BTC/USD) commands 11.57% of trading volume, followed by bitFlyer (BTC/JPY) at 4.48%, Bithumb (BTC/KRW) at 3.97%, Bitstamp (BTC/USD) at 3.84% and Bittrex (NEO/BTC) at 3.64%, according to coinmarketcap.
In terms of exchanges, Bitfinex (BTC/USD) commands 11.57% of trading volume, followed by bitFlyer (BTC/JPY) at 4.48%, Bithumb (BTC/KRW) at 3.97%, Bitstamp (BTC/USD) at 3.84% and Bittrex (NEO/BTC) at 3.64%, according to coinmarketcap.
Quote
The prices of cryptocurrencies have corrected due to the China crackdown. This in some ways has brought confidence in the markets as it lowered the perceived importance of the country to some extent. However, the range-bound movement in the markets is indicative that investors and traders are still looking for some clues before making the next move.
BTC volume in China went from 90% to 4.5%. I'm surprised that BTC price hasn't dropped more.
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