Seems like China is dominating the market again with 71% of the volume?

[CryptoPanda]

According to
http://bitcoinity.org/markets/list?currency=ALL&span=24h

China has 71% of the volume for the last 24 hours

huobi is responsible for 67% and btcchina for 4%

Well huobi volume of 327,309 BTC for the last 24 hours seems way too big to be trusted?

What's the deal this time?

[howardb]

According to
http://bitcoinity.org/markets/list?currency=ALL&span=24h

China has 71% of the volume for the last 24 hours

huobi is responsible for 67% and btcchina for 4%

Well huobi volume of 327,309 BTC for the last 24 hours seems way too big to be trusted?

What's the deal this time?

You know the Chinese, probably moving BTC to Hong Kong and back to Mainland to improve their stats  

See https://bitcointalk.org/index.php?topic=500032.0

[kolev]

According to
http://bitcoinity.org/markets/list?currency=ALL&span=24h

China has 71% of the volume for the last 24 hours

huobi is responsible for 67% and btcchina for 4%

Well huobi volume of 327,309 BTC for the last 24 hours seems way too big to be trusted?

What's the deal this time?

It's way more than 71% as this doesn't include all Chinese exchanges: http://btckan.com/price

[jonald_fyookball]

China has biggest population so kinda makes sense?

[Singlebyte]

Remember, Huobi has been accused of "manipulating" their numbers/volume.  I wouldn't be surprised if they are continuing to fake their data.

[Coins4life]

Remember, Huobi has been accused of "manipulating" their numbers/volume.  I wouldn't be surprised if they are continuing to fake their data.

I wouldn't be surprised.

[CryptoPanda]

Remember, Huobi has been accused of "manipulating" their numbers/volume.  I wouldn't be surprised if they are continuing to fake their data.

I really think so at this point.
Just few months ago nobody have heard about them now they beat bitstamp 10 fold.

Yeah Chinese might be a lot of people as stated above, but internet penetration there is much lower and population much poorer on average.

[inoob]

According to
http://bitcoinity.org/markets/list?currency=ALL&span=24h

China has 71% of the volume for the last 24 hours

huobi is responsible for 67% and btcchina for 4%

Well huobi volume of 327,309 BTC for the last 24 hours seems way too big to be trusted?

What's the deal this time?

Are they buying or selling?

[CryptoPanda]

Are they buying or selling?

It takes two to tango.

However, I'm feeling obtuse this evening so... Every trade has one buyer and at least one seller.  As it is possible for any given trade to include only one buyer, but multiple sellers, then in fact there on average are more sellers than buyers.

So... I think it's 'more' correct to say they are selling.

but also there could be multiple buyers to one seller?

[jmbb28]

The volumes will be higher because there are no transaction fees, which means no cost to run a bot that buys/sells over and over.

[El Dude]

The next china bull run is just about to start with LTC hitting Huobi soon expect BTC to hit $1500 and LTC to hit $100.

[boomertoo]

Mostly milli bits by a massive population  that adds up

[CryptoPanda]

The next china bull run is just about to start with LTC hitting Huobi soon expect BTC to hit $1500 and LTC to hit $100.

yes, seems like china will be the driver of the rise again.
What's the west doing? 5 years later and USA is still not seriously in the game. With not even one serious exchange there.
Really looking forward for Circle.

[El Dude]

The next china bull run is just about to start with LTC hitting Huobi soon expect BTC to hit $1500 and LTC to hit $100.

yes, seems like china will be the driver of the rise again.
What's the west doing? 5 years later and USA is still not seriously in the game. With not even one serious exchange there.
Really looking forward for Circle.

wait for wallstreet to jump in.

[CryptoPanda]

The next china bull run is just about to start with LTC hitting Huobi soon expect BTC to hit $1500 and LTC to hit $100.

yes, seems like china will be the driver of the rise again.
What's the west doing? 5 years later and USA is still not seriously in the game. With not even one serious exchange there.
Really looking forward for Circle.

wait for wallstreet to jump in.

i'm really looking forward to that since last year, but they are kinda slow so far.

[superresistant]

The volumes will be higher because there are no transaction fees, which means no cost to run a bot that buys/sells over and over.

90% of volume is caused my bots but it is still volume...

[LiteCoinGuy]

yeah and btc china trades now Litecoin (also with zero fees) . so whats the problems ;-) ?

the rest of the world just need more time to understand it.

[virtualprofit]

Yea all exchange Chinese are lying ... But Mtgox, Bitstamp, btc-e don't 

All this exchanges are bigger than Btc-e:

-- OkCoin  298k
-- Huobi 229k
-- Chbtc 48k
-- Btctrade 21k
-- Fxbtc 24k

The reality is the market is Chinese !

[bananas]

China has biggest population so kinda makes sense?

No, does not make sense. Their economy is very small compared to i.e. the USA.

GDP per capta of USA is USD$51,704 in 2012. Total of $16,244,600 ( trillions ).

European Union is USD$32,999 for the same year. Total of $16.584,000 .
 
China is only USD$9,055. Total of $8,358,400.


Considering also cultural matters, i just don't belive the chinese volume is real.

[virtualprofit]

There are now 1 020 000 millionaires in China 

618M people have access to internet , 48.5%.
Chinese gov undervalued the yuan for better exportation and use dumping in Africa for take resources.

But yes officially , the Gdp is lowest than US.

And an important thing , Chinese love gambling . Gambling in Macau is bigger than Las Vegas