Bitcoin Forum

Bitcoin - China

 Bitcoin worth has climbed on the key exchanges to $ 790, whereas in China its rating exceeded $ 800.
Around 02:00 UTC, the key coin run $ 790.88 on Bitstamp, up to $ 793 on Bitfinex ,$ 795 on Kraken; on BTC-e, where the norm is commonly lower, the scale, notwithstanding, did not surpass $ 780.
Simultaneously, on Yuanbao, were observed the extreme activity of dealers during the last day, Bitcoin went up to $ 806.98 (5616 CNY), was at around $ 804 at the time of publication..https://bit.news/eng/bitcoin-worth-exceeded-800-exchanges-china/

            http://s1.radikale.ru/uploads/2016/12/18/9c49e702138bdde0b73d567cc9e40fd1-full.jpg

For me, and I am sure for other people as well, it doesn't have much value when Chinese exchanges go through certain price levels in advance of the western exchanges. It will be taken seriously as soon as Bitstamp, Kraken, BTC-E, Bitfinex, etc, reach such levels. China is now around $10 ahead of the western exchanges, which means that if they go up another $10-$15 in the coming days, that we'll see exchanges globally sit at the $800 levels. If it will happen, then it happens somewhere next week, if not, then we'll most likely head down a bit, or remain around current levels till the end of this year.

China has always had a higher price compared to global exchanges, because of the higher demand and capital controls in place. The price figure should be taken with a pinch of salt, because zero-fee trading can make it easier to manipulate prices.

It can also lead to higher trade volumes, which would rather explain the Chinese price difference. I will never use their price as a main

indicator, but it usually push the price of bitcoin on other non-Chinese exchanges. How much do you want to bet, that the bitcoin price will

rise to those levels soon on the other exchanges?  ;)

This would also mean that the other exchanges will follow china's exchange. This news will mean that all other exchanges will reach $800 and probably more before the end of the year. I do hope it does continue and more people adopts bitcoin so the prices will sustain that rise. But, some say that the prices might fall because of correction.

From what I noticed the Chinese exchanges is always ~ +$10 in advance of the other exchanges which will follow it in the next hours or days
Well of course this may be not accurate and a dump / correction may happens at any moment
In my opinion the price will pass $800 in the most exchanges in the next days  :)

Not that much of a surprise as China nearly always lead when it comes to their ticker price. For them reaching $800 is not that much of an interesting achievement since they look to break ¥6000 as that is what they go for. $800 is just something we keep speculating about. I just wonder how long it will take before we finally touch $800 as people are eagerly waiting for that moment.

We almost near to make it thought the 800$ barrier in the western countries, is just a question of days or maybe weeks if the trend continues on this way. We see many threads about this discussion on the forum already on the speculation area.

Go go go bitcoin. We want you to reach 800$ USD.

Wow. Thats great. Thats because of demand of bitcoin in their country. Thats why the price is higher than other bitcoin exchange. So no doubt bitcoin price will rise and make it to $800 before the year ends. We are at $790+, so i have doubt we will reach $800 barrier soon. 2017 is more exciting.

it did climb over 800$ mark and at the time of this post is 801.26$
but there are no substantial volumes that are required for  the price to go any further up
lets wait for thursday and friday and see what happens,I think there will be massive movement up in trading volumes
so the price should move with them

But how is it possible? Aren't western people also participating on those Chinese exchanges? And if not what is preventing them from joining? Or maybe the $10 difference doesn't give you a possibility to make money on that. But still I can't understand why is there a difference.

The process you are referring to is arbitration, where you send your BTC to a Chinese account, sell it for more, get that money back to a 'western' (lower price) exchange, buy cheap BTC and repeat the cycle

But the practical problem is getting your fiat out of China... that is why more people are selling they money for BTC, to get it out of China and that is creating price pressure

And as i told you boys the bitcoin price is sitting between $807-809 in the most western exchanges and at $816 in the Chinese exchanges  ;)
Hope it will keep rising or at least don't fall under $800 again  :)