OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
445 1 2
a month ago
The mechanic seems something like this:
1) Yuan is loosing buying power
2) Chinese buy all BTC that they can pushing up BTC/CNY            
3) When BTC/CNY             is too high they are buying dollars to buy BTC pushing up also BTC/USD
a month ago
Comment: Now, if you consider this chart from 2016-05-05, both USD/CNY and BTC/USD reached a 70% increase in value (the gap is closed).
Victor.Y.F
23 days ago
Thank you mytradersblog! This is the capital flow sequence. Renminbi to BTC and BTC to USD. The hole it is.
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