Chinese Bitcoin Exchanges: Litecoin Price Volatility Driving Bitcoin Gains, Not Chinese Stock Market
Over the past several days, investors have witnessed sudden gains in volume and extreme price volatility for litecoin. In the last week litecoin has gained over 79 percent against bitcoin, 88 percent against the U. S. dollar and 90 percent against the euro and the yuan. Much of the rapid increase in volume around litecoin trading was coming from Chinese....
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One also has to keep in mind how the US$800 mark is quite important, even more so for the Chinese. China has always been the driving force behind the Bitcoin price. Interestingly enough, it is the Chinese exchanges pushing the price well above the all-important US$800 threshold. It is up to the rest of the markets around the world to follow this lead. Them again, it is not certain the US market will get to US$800 anytime soon, as it is a major point of resistance. Many people woke up to can exciting surprise, as Chinese Bitcoin exchanges are trading at US$800 and above. Compared to the....
After yesterday’s success Litecoin turned as red as a beet and slowly slide down. The Litecoin price correction is likely to continue during this weekend and on Monday. So, if the price range of $3.50—$3.70 has been a tough row to hoe for Litecoin, the question is if we are going to see it in the $3.20—$3.50 soon. Well, not sure. The upper border of the price corridor occurs at the level $3.50, but its lower edge is still unclear. The key factor dragging Litecoin down is China. Its cryptocurrency market depends heavily on the country’s stock market. As China’s stock exchanges revive,....
In the long run, suppressing volatility and speculation will be positive for the bitcoin market. Bitcoin trading volume has been plummeting across all major Chinese exchanges. That is not entirely unexpected, considering these platforms have removed most of their margin trading options. Moreover, trading fees have been reinstated across Chinese exchanges, which will heavily impact trading activities. For the time being, this has not impacted the Bitcoin price all that much, though. The one-hour trading volumes across most major Chinese bitcoin exchanges took a big hit. Earlier tonight,....
Bitcoin prices experienced significant volatility for much of this week, calming down during the last few sessions. Amid these fluctuations, the digital currency’s price rose to as much as $942.06 on 8th January and declined to $752.11 on 11th January before trading between reasonably tight ranges for most of the week’s remainder, according to the CoinDesk USD Bitcoin Price Index (BPI). Market analysts cited ongoing Chinese regulatory developments – and the resulting suspense they have been creating for market observers – as driving this week’s bitcoin price movements. Rik Willard, founder....
Chinese shares experienced their worst ever start to a year after Chinese stock markets plunged 7% in their opening session of 2016 on Monday. It began with an initial halt of CSI-300 Futures (Chinese Securities Index) for 15-minutes at a 5 percent level, a move that failed to stop the retreat. When the market re-opened following the temporary suspension, shares began extending their losses. As the stock market tumbled to 7%, China’s new “circuit breaker” measures were triggered, a mechanism enforced by the securities regulator to automatically prevent further volatility and losses in the....