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Dvian (OP)
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March 02, 2017, 06:19:31 PM
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Sory, but can't find last news about it!
Why BTC/CNY now cheaper than BTC/USD?
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Dvian (OP)
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March 10, 2017, 12:55:11 PM
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anybody knows?
peterpanda
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March 10, 2017, 01:05:13 PM
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Because, exchangers in China was temporally banded from withdraw coin. So, the CNY price now is just the price of futures of BTC, with unknown time delay
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March 10, 2017, 01:54:12 PM
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I don't know this for sure. but in my opinion the price BTC-CNY is cheaper because there is already a lot of people who use the bitcoin or indeed the currency much cheaper compared to the USD. as you may know that when compared with the financial, CNY is far cheaper and weighted compared to the USD. So, maybe these things that make the price BTC-CNY with BTC-Different USD
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March 10, 2017, 03:37:22 PM
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Quote from: Dvian on March 02, 2017, 06:19:31 PM
Sory, but can't find last news about it!
Why BTC/CNY now cheaper than BTC/USD?


it isn't really that cheap. you are converting CNY to USD and using a rather different price for CNY/USD pair that is why there is a difference.

also, there is always going to be some difference between prices of bitcoin in different currencies.

on top of that, as it was mentioned these Chinese exchanges are having some troubles these days (which i think was finished recently) that is why Chinese people are trading elsewhere. if you check the localbitcoins price for example you can see the CNY price for bitcoin is much higher now.
There is a FOMO brewing...
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March 10, 2017, 10:12:42 PM
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Quote from: peterpanda on March 10, 2017, 01:05:13 PM
Because, exchangers in China was temporally banded from withdraw coin. So, the CNY price now is just the price of futures of BTC, with unknown time delay
agree with this opinion,i just read the news about it.maybe this policy that keeps the price low in china
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March 10, 2017, 10:54:49 PM
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Quote from: Dvian on March 02, 2017, 06:19:31 PM
Sory, but can't find last news about it!
Why BTC/CNY now cheaper than BTC/USD?


this now after SEC rejected bitcoin, BTC/CNY is same price BTC/USD
is same time SEC rejected, china exchanger open withdraw again
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March 11, 2017, 12:21:45 AM
 #8
Quote from: Dvian on March 02, 2017, 06:19:31 PM
Sory, but can't find last news about it!
Why BTC/CNY now cheaper than BTC/USD?

http://www.coindesk.com/chinas-bitcoin-exchange-freeze-may-be-likely-to-continue/

I think the PBOC will continue to block the withdrawal service by the exchange site and it makes the chinese pair is so weak.
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