Topic: Why is the price of BTC (and any other crypto) always higher in Asian countries? - page 3. (Read 721 times)
September 21, 2020, 10:03:20 PM
It's premium and it depends on supply/demand within particular country. For example, when India's central bank announced ban on dealing with cryptos there was huge sell pressure and cryptos were trading at far below their usd price.
September 21, 2020, 07:42:44 PM
You are comparing three things here:
1. BTC value in USD
2. BTC value in local currency
3. Local currency value in USD
There will always be discrepancies if you do that. Strength or weakness of local currencies against the USD depends on many factors that doesn't necessarily affect BTC.
1. BTC value in USD
2. BTC value in local currency
3. Local currency value in USD
There will always be discrepancies if you do that. Strength or weakness of local currencies against the USD depends on many factors that doesn't necessarily affect BTC.
September 21, 2020, 07:12:22 PM
The price of bitcoin differs from one exchange to another, and also fluctuating. The difference is what is confusing you which is as a result of trading volume on individual exchanges.
Across exchanges and P2P sites it consistently tracks the rate on US exchanges and is always 2-3% higher in Asia. Been observing since a long time.
September 21, 2020, 06:55:27 PM
For example if you multiply the USD rate of 1 BTC with the CNY rate, its 1 BTC = CNY 73,600, but exchanges there have it around CNY 75,500.
In other countries in Asia and South America also BTC is more expensive to buy in non-USD currencies than in USD.
Why is this the case?
You are getting this wrongly. The price of bitcoin differs from one exchange to another, and also fluctuating. The difference is what is confusing you which is as a result of trading volume on individual exchanges. In other countries in Asia and South America also BTC is more expensive to buy in non-USD currencies than in USD.
Why is this the case?
September 21, 2020, 06:34:21 PM
Less people trading it?
I think it's probably reasonable to assume a 2.5% fluctuation)(or 0m5%) based on exchange fees because there's just less volume and the price isn't in realtime.
If not then maybe too many people are makrrt dumping and not setting limit orders.
I think it's probably reasonable to assume a 2.5% fluctuation)(or 0m5%) based on exchange fees because there's just less volume and the price isn't in realtime.
If not then maybe too many people are makrrt dumping and not setting limit orders.
September 21, 2020, 06:24:09 PM
Its consistently higher that what the normal currency exchange rate would suggest in Asian countries.
For example if you multiply the USD rate of 1 BTC with the CNY rate, its 1 BTC = CNY 73,600, but exchanges there have it around CNY 75,500.
In other countries in Asia and South America also BTC is more expensive to buy in non-USD currencies than in USD.
Why is this the case?
For example if you multiply the USD rate of 1 BTC with the CNY rate, its 1 BTC = CNY 73,600, but exchanges there have it around CNY 75,500.
In other countries in Asia and South America also BTC is more expensive to buy in non-USD currencies than in USD.
Why is this the case?
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