Bitcoin exchange BTC China experiences all-time price high
Chinese bitcoin exchange BTC China hit its all-time high at the weekend, trading bitcoin at ¥1,978 each. The record surpasses the previous Chinese high of ¥1,944 back in April this year, which, although Western media generally quotes the Mt. Gox high of $265, was actually equivalent to approximately $308. It seems the Chinese are willing to pay premium prices for their bitcoins, as exemplified by this recent breakout, with reports that much of the recent surge in the value of bitcoin can be attributed to the enthusiasm of Chinese traders. The thirst of Chinese traders. BTC China CEO Bobby....
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Bitcoin triumphantly rises once more, reaching an all-time high today at around 2PM London time in one of the most liquid exchanges: BTC China. Proclaimed dead or worthless so often by so many, the currency has been turning heads in the past few weeks when a two years long bull market accelerated around December the 20th, increasing bitcoin’s price from around $800 to almost $1,100 in just two weeks, while at BTCChina it reached an all-time high of just under $1,150 (7,990 CNY according to BitcoinWisdom) higher by almost 400 points than its previous all-time high of 7,588 CNY reached on....
Around mid to late 2013, the bitcoin world started waking up to an interesting realization: bitcoin growth wasn't being driven by the typical finance and tech centers of New York, London or Silicon Valley. In fact, China was playing the more significant role. At that time, exchange BTC China had already posted the record-high bitcoin price of $308 (CNY equivalent) in April 2013 and was surpassing Mt Gox in trade volumes. Chinese factories were cranking out mining machines and the country's residents were downloading more bitcoin wallets than anyone else in the world. In November, China was....
Bitcoin has hit its all-time high price on pioneering Chinese exchange BTCC (formerly BTC China), reaching almost 7,700 yuan. Chinese Investors Push Bitcoin to New All-Time High. As of 21.30 PST January 3, the price of a coin reached 7,658.19 yuan, beating a 2014 high of 7,588.88. The CEO of China’s oldest Bitcoin exchange BTCC Bobby Lee marked the occasion tweeting, The spike comes in light of widely-expected renewed efforts by Chinese authorities to stem capital outflow from the country’s slowing economy. As of July 2017, “banks and other financial institutions in China will have to....
Following China-related reports that caused investors to panic and bring the price of bitcoin down to $340 at the Bitstamp exchange, we're seeing a nice jump back up to the $430 range at the time of this writing. The price is up over 7 percent in the past day or so, reaching a high of $432 (so far). News this morning that the People's Bank of China Governor said that China has no intentions of banning the use of bitcoin are likely the reason for the climb. The bitcoin price took a beating this week when various exchanges announced some of their banking partners were closing accounts in....
Leading analysts state that the Chinese foreign exchange reserves have likely fallen between the range of $80 to 100 bln in October. Considering the value, experts state that the devaluation of the yuan is presumed and thus, the demand for Bitcoin will most likely surge again. Jens Nordvig, founder and CEO at Exante Data, a prominent proprietary data and innovative analytical solutions provider, recently stated in an open letter to its clients that the foreign exchange market of China may be in trouble. Nordvig wrote: “Last week, our proprietary real-time indicators detected intervention....