Bitcoin's Price Is Behaving Sticky

[2double0]

Price won't drop because of the fact that International investors didn't give a damn to China's decision over withdrawing their participation from everything related to Bitcoins. It is stuck at a level which used to be a mid-level or Resistance 1 but has now changed to Pivot point itself. 4000 has now been the main point which needs not to be broken down as the gradual price hike will help it to relieve itself from all the previous dumps and the cycle of pumps and dumps may end (in my serious belief) once it reaches a value from which selling it would become hard.

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[hasmukh_rawal]

Yeah even i was surprise to see that Big nation like china has no Manipulation control on Bitcoin for now after the Ban. It is a great sign for us and i think everyone who is trading should make a note of it for future purposes Because china's ban didn't create any impact on bitcoin prices. You should be alert and you should be prepared for situations like this, so that you can make a huge benefit from this situations. But i hope china will plan to use bitcoin after strong rules and regulations are formed. But in anyways if they started bitcoin again then it can really boost the bitcoin price with new record highs soon. Now you just need to focus on bitcoin and try to invest some part of your capital as there is high volume of trading expected from all the countries.

[affigne]

BTC volume in euro is at 4.85%?

I guess most Europeans must be trading BTC in USD?

Wonder if there's any advantage in doing so...

None that I know of.

I guess it's mostly a mix of a) BTC/USD being the most widely available crypto/fiat trading pair and b) people whose native currencies isn't traded as much falling back to USD rather than to EUR.

Or maybe Americans are more likely to day-trade

I'd agree. Trading in USD is much more widespread across exchanges than EUR so potentially easier to use USD. Then when you take into account countries that use neither currency natively, USD just seems more logical.

Guess that makes sense...

[FrueGreads]

Interesting stats:

http://www.investopedia.com/news/bitcoins-price-behaving-sticky/

Currently, the Japanese yen accounts for 47.3% of BTC volume by currency, followed by the U.S. Dollar with 32.52%, which adds up to almost 80%. China's share, which was hovering around 90% levels a year ago, is now condensed to 4.54%. While the South Korean won and euro are at 7.34% and 4.85% respectively, according to cryptocompare.

In terms of exchanges, Bitfinex (BTC/USD) commands 11.57% of trading volume, followed by bitFlyer (BTC/JPY) at 4.48%, Bithumb (BTC/KRW) at 3.97%, Bitstamp (BTC/USD) at 3.84% and Bittrex (NEO/BTC) at 3.64%, according to coinmarketcap.

The prices of cryptocurrencies have corrected due to the China crackdown. This in some ways has brought confidence in the markets as it lowered the perceived importance of the country to some extent. However, the range-bound movement in the markets is indicative that investors and traders are still looking for some clues before making the next move.

BTC volume in China went from 90% to 4.5%.  I'm surprised that BTC price hasn't dropped more.

I think these are great news for the community. I still think the trading value should be more dispersed, so that way it will be harder for a single country to disrupt it's price like it happened with the China ban on ICOs and the suspension of exchanges. It's still a bit condensed on the Japan side, but at least they already have regulation, so they are not in the "grey area", which should be able to attract more investors.

[Hoganye]

I think there is a political scenario when china say banned ICO, then the price dropped drastically, but then japan and the price holders Bitcoin mengamakan its until now the price is slightly strengthened ..

i am thinking the same like you because we know that ICO giving much revenue for the dev but the government can not involve with the project so they prevent this by banned every ico in china. and we can see that after china gone, korea and japan will be the next big market in asia because they open their mind about bitcoin and now they are ready to be the leader in asia.

And final, not is Korea or Japan, that is HongKong haha. Almost exchange banned by the Chinese government has been transfered to new server and complete procedure change to HongKong. I am sure China has gives up its chance to HongKong

[Skieleton]

Interesting stats:

http://www.investopedia.com/news/bitcoins-price-behaving-sticky/

Currently, the Japanese yen accounts for 47.3% of BTC volume by currency, followed by the U.S. Dollar with 32.52%, which adds up to almost 80%. China's share, which was hovering around 90% levels a year ago, is now condensed to 4.54%. While the South Korean won and euro are at 7.34% and 4.85% respectively, according to cryptocompare.

In terms of exchanges, Bitfinex (BTC/USD) commands 11.57% of trading volume, followed by bitFlyer (BTC/JPY) at 4.48%, Bithumb (BTC/KRW) at 3.97%, Bitstamp (BTC/USD) at 3.84% and Bittrex (NEO/BTC) at 3.64%, according to coinmarketcap.

The prices of cryptocurrencies have corrected due to the China crackdown. This in some ways has brought confidence in the markets as it lowered the perceived importance of the country to some extent. However, the range-bound movement in the markets is indicative that investors and traders are still looking for some clues before making the next move.

BTC volume in China went from 90% to 4.5%.  I'm surprised that BTC price hasn't dropped more.

This whole situation is disturbing. I'm afraid of locking ISO. There will be less altcoins. You will get paid to earn BTC. Everything will be known after September 30.