I don't think bitcoin goes up until the Chinese markets start to operate in a more open and fair manner.
While they were never confirmed there were reports of Chinese exchanges trading for their own account with bitcoins they did not have. This move down fits that hypothesis as Chinese New Year is coming up, good time to have some RMB.
So just like any other country, ethical markets welcome, scammers stay out.
Topic: Chinese Exchange Markets Welcome ! (Read 798 times)
Well according to the trading figures the VOLUME of trading is what make the markets move and if you look at the volume in china that is real and without them we would all be sitting on 100.00 or less BTC right now or lower.. The US and Euro markets according to the data is not large enough to make a difference.
I really don't know what to make of the Chinese markets and exchanges these days. A year ago they supposedly received ban-notices weekly and the second bubble of 2013 got popped forcefully multiple times. Crazy times. What happens there seems to be some kind of high-frequency trading, but I really don't see them leading the price these days. The real buying/selling seems to happen on Stamp, margin trading and speculation on Finex.
With the comments and attitude going this direction so far I can see we are never going to get anywhere welcoming the Chinese markets.. We could learn so much from them but instead we drive them away from any meaningful conversation. Just think if we had a thread dedicated to conversation and input - When the markets close here they open in china. That FRIEND would be a amazing source of DATA from the inside..
I'ts no doubt that chinese exchanges are the market leader, are they gonna pump BTC up again? or we gonna see sub300 this time around ?
I would not personally trust the chinese markets. They operate in a very sketchy fashion, give their customers to keep their money there long term and are rumored to be operating on less then 100% reserves.
Don't you know that Chinese exchanges use bots to fake the volume and manipulate the spread?
Where did you get that data from?
Im thinking if we welcome more Chinese markets - Post - It would be better to get the opinion from those that are supporting and making a real difference in the Price and Volatility and help us all
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