Bitcoin Price Rises: How U.S. Trading Activity May Be Countering China
The bitcoin has encountered a small rise. Standing at $610 at press time, evidence suggests that America’s favorite coin is pulling itself out of the gutter and redressing itself in stronger threads. In fact, some analysts think the recent stability could be due to American trading neutralizing volume from the normally-dominant China. Bitcoin: America vs China. The sentiment among most analysts is that a bull run is about to strike. One source explains: “Bitcoin price finally begins advance after a long wait and sideways crawl… The primary target, for now, is the previous high near $628.....
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Chinese experts have urged BRICS countries, namely Brazil, Russia, India, China and South Africa, to counter the dollar’s global dominance which is now being abused by the United States government, a report....
OKEx withdrawal suspension sends bitcoin lower, China becomes hotbed of DeFi development, Filecoin first-day trading leaves market cap above $800M.
The world’s largest bitcoin market saw a steep fall in trading volumes on the day in which exchanges began charging trading fees at a flat 0.2 percent from midday (Beijing time). In a 1-hour trading period after bitcoin exchanges introduced trading fees, trading volume at BTC China fell over 80%. Huobi and OkCoin, the two other exchanges that were investigated and saw discussions held with the People’s Bank of China saw declines of over 90 percent and 80 percent respectively. The drop in trading volume can be attributed to the lack of automated bitcoin trading, previously making up for a....
Bitcoin hype has never been quite the same since 2019, according to this metric. Since its drop below $4,000 in March 2020, Bitcoin (BTC) has ridden a bullish trend all the way past its 2017 all-time high, recently hitting almost $42,000. During that time, however, Bitcoin’s Twitter activity has underperformed in comparison to its price. Looking at information from crypto data outfit The TIE indicates that Bitcoin’s price is traveling above its Hype-To-Activity Ratio — a metric which shows tweet volume against asset trading volume — since 2019. “Hype-To-Activity Ratio measures the number....
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....