Topic: Do Bitcoin and Chinese Yuan Values Correlate? - page 2. (Read 1197 times)
As the huge transactions were taking place in China, its sure that the usage of bitcoin is also high in China. For this reason when people starts using more and more devaluation of Yuan happens. So from the base correlation takes place.
Some shades in the same question asked of usd/btc values. Correlation is fairly easy to achieve with simple manipulation of data.
Perhaps more information will surface if comparing btc/usd vs usd/yuan price charts.
Perhaps more information will surface if comparing btc/usd vs usd/yuan price charts.
big volume transaction bitcoin trade is dominate yuan is comapre USD
you can see static in coinmarketcap, so effect yuan to price bitcoin is above to USD
trendsetter and leading bitcoin price still dominate in china exchanger and pair yuan, huobi, okcoin and btcc
Relation between Yuan and bitcoin values is set mainly because of chinese miner dominating the mining power as well as chinese try to actively trade bitcoin to hedge against their currency devaluation. However this relation may not be calculated directly using some mathematical calculation only as bitcoin price may get affected by other factors simultaneously along with Yuan price changes.
Some shades in the same question asked of usd/btc values. Correlation is fairly easy to achieve with simple manipulation of data.
Perhaps more information will surface if comparing btc/usd vs usd/yuan price charts.
Perhaps more information will surface if comparing btc/usd vs usd/yuan price charts.
Of course it is. Currently. Simply because Chinese control the btc price. They have the means of production in mining. They have cornered the market in terms of how many actual coins they own. They got our balls in their grubby hands and they know how to squeeze.
As written in the article: Correlation is Not Causation
After reading still don't know about why they are correlated.
Maybe because both are valuating recently, for different reasons?
After reading still don't know about why they are correlated.
Maybe because both are valuating recently, for different reasons?
Do Bitcoin and Chinese Yuan Values Correlate?
https://news.bitcoin.com/bitcoin-chinese-yuan-correlate/
What do you think about this?
https://news.bitcoin.com/bitcoin-chinese-yuan-correlate/
What do you think about this?
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