[2016-06-13] USD Trading Volume Driving The Bitcoin Price Above $650?

[jdebunt]

The USD Bitcoin market seems to be exploding as of late, as it now takes up 31.1% of all 24-hour trading volume. This is a rather unexpected number, and far more substantial than traders have seen in quite some time. Especially Huobi is pushing the pace, albeit there are still unconfirmed allegations regarding this exchange potentially faking their volumes.

http://themerkle.com/usd-trading-volume-driving-the-bitcoin-price-above-650/

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[Kprawn]

It will be a sad day, if all these figures and volumes are manipulated by these exchanges. We know some of the Chinese exchanges have been doing this, because of internal competition between these

exchanges, but I hope this does not spill over into other exchanges. The other more regulated exchanges like Bitfinex / Bitstamp / BTC-E will not get away with that. Anyone seen any major movement

on LocalBitcoins? Whatever is happening now, will spark some major attention from speculators world wide. 

[DarkThrones]

Manipulated volume can't rise the price. How they manipulate volume is by buying and selling at the same price. If they bought for above a price then they'd still be really raising the price, not faking it...

[Barbut]

When looking at the BTC-USD chart, it becomes clear something is out of the ordinary. Over the past three days, the highest daily trading volume recorded was just over 75,000 BTC. Yesterday, on the other hand, saw 334,857.17 Bitcoin change hands where USD trading was concerned. Moreover, the volume has surpassed 115,800 Bitcoin today already, and there is still a long way to go.

From 75 K to 334 k is a very big rise in my opinion. If its manipulation, then this is one very large operation. In this article we can see " Other fiat currencies are showing similar signs of increasing volume,.. "  so its not just with dollars. Something big is going on, this halving is close and everyone wish to earn some fast money. For example buying on 650 $ and selling on over 1000 $ ( or even more, who knows ) is very good business.

Its gonna be interesting as I see.

[aso118]

The article says that Japan and Singapore too have witnessed an increase in trading.
This is actually good news. Markets across the world, and not just China, seem to have witnessed an increase in demand.