Chinese influence on BTC price

[franta]

What are the main drivers of BTC price change in China?

What are the trends?
 

[1714751311]

1714751311

[1714751311]

1714751311

[capoeira]

What are the main drivers of BTC price change in China?

What are the trends?
 

USDCNY atm.

coiners there buy when it goes up. this takes BTCUSD with it.
always when BTCUSD goes up, look for the reason in CHina lol

[traderethereum]

What are the main drivers of BTC price change in China?

What are the trends?
 

USDCNY atm.

coiners there buy when it goes up. this takes BTCUSD with it.
always when BTCUSD goes up, look for the reason in CHina lol

china is giving the big part of bitcoin trading and of course with the price and we all know about this, anything goes with bitcoin, then we should take a look with china market exchange, its happen with up and down price. if traders from china decide to make the price is down, then the other market will be follow.

[JeffBrad12]

51% hash attack in my mind.
But the main drive still holds by Chinese miner.


The demand was increasing and which mean will boost the price of bitcoin.

 

[Idrisu]

50% of bitcoin mining is done in China and because of this bitcoin technology and advance software are developed there. I noticed, bitcoin market move in trend during Chinese trading session. Am a wise trading should take advantage of this in other to make profit on margin trade.

[mobnepal]

Along with china holding majority of mining power or atleast china based company are behind manufacturing bitcoin mining devices as well as mining farms, you can check http://fiatleak.com/ which shows most of the bitcoin trading volume comes from china (either from manual or bot trading). This is why the devaluation of yuan shows strong pump in bitcoin as well as small news regarding Chinese economy influences bitcoin market.

[streazight]

51% hash attack in my mind.
But the main drive still holds by Chinese miner.


The demand was increasing and which mean will boost the price of bitcoin.

 

As the users of bitcoin can be found in all over the world. All most all the countries of the world will be using bitcoin, so how can it be possible for a single country to manipulated the price of bitcoin so easily, I am not agree with this statement.

[capoeira]

51% hash attack in my mind.
But the main drive still holds by Chinese miner.


The demand was increasing and which mean will boost the price of bitcoin.

 

As the users of bitcoin can be found in all over the world. All most all the countries of the world will be using bitcoin, so how can it be possible for a single country to manipulated the price of bitcoin so easily, I am not agree with this statement.

the answer is volume: https://exchangewar.info/

[Wei H]

51% hash attack in my mind.
But the main drive still holds by Chinese miner.


The demand was increasing and which mean will boost the price of bitcoin.

 

As the users of bitcoin can be found in all over the world. All most all the countries of the world will be using bitcoin, so how can it be possible for a single country to manipulated the price of bitcoin so easily, I am not agree with this statement.

the answer is volume: https://exchangewar.info/

The is volume not completely true because most Chinese exchanges are using trading bot to create volume and make profit from it.

[capoeira]

51% hash attack in my mind.
But the main drive still holds by Chinese miner.


The demand was increasing and which mean will boost the price of bitcoin.

 

As the users of bitcoin can be found in all over the world. All most all the countries of the world will be using bitcoin, so how can it be possible for a single country to manipulated the price of bitcoin so easily, I am not agree with this statement.

the answer is volume: https://exchangewar.info/

The is volume not completely true because most Chinese exchanges are using trading bot to create volume and make profit from it.

sure but still we can safly say that way over 50% of volume is in China.

[alexsandria]

What are the main drivers of BTC price change in China?

What are the trends?
 

USDCNY atm.

coiners there buy when it goes up. this takes BTCUSD with it.
always when BTCUSD goes up, look for the reason in CHina lol

china is giving the big part of bitcoin trading and of course with the price and we all know about this, anything goes with bitcoin, then we should take a look with china market exchange, its happen with up and down price. if traders from china decide to make the price is down, then the other market will be follow.

I agree on that. Most bitcoin holders are chinese. Since in their country all of people them dream not to be a employee but to be a businessman, they would invest on a business that they know they would earn. I like to mindset of their country, sooner they could be the most influenced country in terms of trading.

[Slark]

I still think that main factor is fact tht Chinese citizens have no faith in their own currency yuan renminbi.
This FIAT is totally controlled and steered to always have low value compared to USD.
They do this to make sure export will always be profitable even at cost of undermining their own FIAT.
That is why Chinese speculators/investors/normal people buy large amounts of bitcoin.

Here is old news presenting this situation: http://www.zerohedge.com/news/2015-11-02/bitcoin-more-doubles-2015-lows-chinese-ignore-easing-capital-controls

[capoeira]

It's not that they have no faith in their currency. I'm no China expert, but they generaly love their semi-dictatorship. this includes that they trust in it. it's just that they see advantage in buying BTC when USDCNY goes down. They are not like westerns who see those moves of their currency as bad. they just react. and we talk about those "few" Chineses who can speculate. "few" in this case are many many....but few in the sense of the whole population,

[pooya87]

51% hash attack in my mind.
But the main drive still holds by Chinese miner.


The demand was increasing and which mean will boost the price of bitcoin.

 

As the users of bitcoin can be found in all over the world. All most all the countries of the world will be using bitcoin, so how can it be possible for a single country to manipulated the price of bitcoin so easily, I am not agree with this statement.

the answer is volume: https://exchangewar.info/

The is volume not completely true because most Chinese exchanges are using trading bot to create volume and make profit from it.

sure but still we can safly say that way over 50% of volume is in China.

you are forgetting about the 0 fees on their biggest exchange platform. that is why the volume is through the roof there. because simply put you can make profit even with 1 CNY change in price because there is absolutely no fees there to trade.

[densuj]

What are the main drivers of BTC price change in China?

What are the trends?
 

Mostly people of China are traders, enterpreneur or businessman, in my opinion they make investment into bitcoins for long term strategy and the price on there always more higher than other markets. And The trend is goes up of course, they can be control price of bitcoin.

[capoeira]

51% hash attack in my mind.
But the main drive still holds by Chinese miner.


The demand was increasing and which mean will boost the price of bitcoin.

 

As the users of bitcoin can be found in all over the world. All most all the countries of the world will be using bitcoin, so how can it be possible for a single country to manipulated the price of bitcoin so easily, I am not agree with this statement.

the answer is volume: https://exchangewar.info/

The is volume not completely true because most Chinese exchanges are using trading bot to create volume and make profit from it.

sure but still we can safly say that way over 50% of volume is in China.

you are forgetting about the 0 fees on their biggest exchange platform. that is why the volume is through the roof there. because simply put you can make profit even with 1 CNY change in price because there is absolutely no fees there to trade.

Look at Huobi's volume. It has trading fees. The "0 fee explains all"-theory is an excuse of western Bitcoiners who don't want to realize that BTC is in China's hands

[Bitsane]

Billions of dollars of daily volume on Chinese exchanges (vs) Millions on european ones. Feel the difference!

[hurain]

to me i think it cannot be so. as bitcoin is a decentralized universal crypto currency and not a regional, therefore it is really difficult to manipulate the price of bitcoin by a single country.

[Jasad]

What are the main drivers of BTC price change in China?

What are the trends?
 

Mostly people of China are traders, enterpreneur or businessman, in my opinion they make investment into bitcoins for long term strategy and the price on there always more higher than other markets. And The trend is goes up of course, they can be control price of bitcoin.

you just make a random speculation right?
but based on my limited knowledge china have a big impact on the world economy ,
there a lot of ways for china to have a big influence on global economy ,
inlcude bitcoin where there a lot of mining farm owned by chinese bitcoin miner more than any other bitcoin miner arond the world.

[Deep In The Mines LLC]

Its hard to tell how much volume/infulence china is actually affecting the markets, but if I had to take a guess, they have very large volume.

Seems USD/CNY is currently the biggest driver for Bitcoin Price.

The trends seem to also be attached to psychological monetary walls (E.G -- 5000 CNY, 6000CNY) in a similiar manner to USD (700) (800) USD, when such a wall is broken the majority of the time there is a large dump (if falling) or a large pump (if breaking the wall upwards rather than downwards).